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Magnasense AB Announces Termination of Agreement with Digital Health Solutions, LLC

MAR

Magnasense AB today announced the mutual termination of its agreement with Digital Health Solutions, LLC (DHS). As part of the termination, DHS has agreed to waive the 9,500,000 free-of-charge warrants of series 2024/2025 previously announced on the 25 August 2024. This means that an extraordinary general meeting regarding the directed issue of warrants of series 2024/2025 will not be announced.

This decision follows the conclusion of Magnasense's involvement in the RADx® project, allowing both parties flexibility to explore future collaboration opportunities.

Under the original agreement, Magnasense paid DHS USD 200,000 for completed work under WP1 of the RADx® project. Magnasense will reimburse DHS for incurred unreimbursed expenses in the amount of USD 80,000. However, the remaining work valued at USD 620,000 has been cancelled.

Magnasense expresses its sincere appreciation for DHS's contributions to the RADx® project, noting their expertise was instrumental in advancing the company’s technology and achieving key milestones.

Looking ahead, Magnasense remains committed to driving innovation in healthcare solutions and is actively seeking new opportunities aligned with its strategic goals.

For additional information, please contact:
Marco Witteveen, CEO, Magnasense AB
Email: ir@magnasense.com
The Company’s Certified Adviser is Eminova Fondkommission AB | adviser@eminova.se

About Magnasense AB
Magnasense is a Swedish diagnostics company founded in 2019 to offer tests to monitor and optimize the dosage of biological drugs via its unique patented technology platform. In June 2020, Magnasense was listed on the Nasdaq First North Growth Market. The company's ambition is, in addition to bringing innovative diagnostic technology to the market, to make diagnostics more accessible, easier to use and to provide accurate and easily transferable results. For more information, see Magnasense's website www.magnasense.com.

This information is information that Magnasense is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-01-28 19:30 CET.

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Magnasense AB Announces Termination of Agreement with Digital Health Solutions, LLC

Datum 2025-01-28, kl 19:30
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Magnasense AB Announces Termination of Agreement with Digital Health Solutions, LLC
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