The Polish Financial Supervision Authority (KNF) today approved the Issuing Prospectus of BRASTER S.A. in relation to the initial Public Offering of shares and the planned transfer of its listing to the main Warsaw Stock Exchange (WSE) market. BRASTER S.A. is the owner of a revolutionary technology for breast cancer diagnostics. The issuing prospectus will be published on May 5th.
The press conference presenting the planned offering will be streamed live online at http://platforma.livingmedia.pl/live/150504001/
In January, BRASTER filed a request to the Polish Financial Supervision Authority for the renewal of proceedings on the approval of the issuing prospectus. The Company plans to move from NewConnect to the main market of the WSE and conduct the public offering of up to 2.6 million series F shares. Ipopema Securities will be the offeror in the transaction.
"Within just a few months we managed to significantly update our issuing prospectus. It was necessary to introduce a new strategy which projects that the Braster device will be addressed directly to women and will be available for sale in the second half of 2016" – says Marcin Halicki, President of the Board of BRASTER S.A.
According to the strategy for 2015–2021, published in November 2014, the Braster device will be available for sale in the second half of 2016. It will first be available on the Polish market. In 2017, its distribution in Germany and the United Kingdom is projected to begin. A year later the device will be placed on the markets of, among others, other European Union countries and the United States.
BRASTER is cooperating on the project development with the Warsaw University of Technology and the Jagiellonian University, among others. Researchers from the Faculty of Electronics and Information Technology at the Warsaw University of Technology are working on the system that will automatically interpret thermographic examinations received from the Braster device. This will be a milestone in the process of preparing the device for commercialization, since the automatic interpretation of examinations constitutes one of the pillars of the Company’s strategy. Specialists from the Collegium Medicum at the Jagiellonian University will conduct a trial under the INNOMED project which will cover over 2,000 women. The study will enable the comparison of the Braster device’s efficacy (with a new algorithm) in diagnostics and differentiation of lesions in women’s breasts against standard diagnostic methods. The project has been co-financed by the National Center for Research and Development to the tune of PLN 9.1 million (its total cost will amount to PLN 10.2 million).