Concepta (AIM:CPT) is gearing up for a rollout of the group’s home-use fertility tracking and pregnancy self-testing system, myLotus®, in the second half of 2020.
The UK-based healthcare company said it has made ‘substantial improvements’ to its operational structure to position the business to ensure the commercial success of myLotus®.
This has included significant cost savings, the group said, while manufacturing has been outsourced, enabling existing funds to be re-assigned to digital marketing and commercial sales efforts.
The group recently told investors that proceeds from a £1.9m placing would be used to support increased commercial activities as it aims to increase consumer awareness of its flagship self-test fertility monitor.
The company said that while it remains in the early stages of commercial roll-out, it continues to build on listings with retailers including www.boots.com and Amazon.
Shares in Concepta were trading flat at 1.35p on Tuesday morning.
A ‘repositioned’ myLotus will emerge from June 2020, the group said, with a fully optimised digital campaign, followed by a new App which is expected to be available for those using myLotus in Q4 2020.
Since the first myLotus birth in October 2019, Concepta has seen over 26 women share their stories of successfully conceiving and giving birth as a result of the self-testing system.
"We have been working hard on the marketing effort for myLotus this year so that we are ready to optimise our reach and connect directly with our target end users,” said Penny McCormick, CEO of Concepta.
“Our team has been strengthened with the appointment of key marketing, digital and customer care roles, and we are gearing up for a rollout in the second half of 2020,” she added.
Concepta also noted its recently announced exclusive global licence with Abingdon Health Limited for the use of its App Dx IP for human pregnancy and fertility.
The group said feasibility work on the new product has commenced and, subject to a successful development, it is expected to be launch-ready in 2021.
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