REG - Spectral MD Holdings - Share Dealing and Exercise of Options

Spectral MD HoldingsAnnouncement

23/12/2021 15:15

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RNS Number : 6765W  Spectral MD Holdings, Ltd.  23 December 2021

23 December 2021

Spectral MD Holdings, Ltd.

("Spectral MD" or the "Company" or the "Group")

Share Dealing and Exercise of Options

LONDON, U.K. AND DALLAS, TX, U.S. Spectral MD Holdings, Ltd. (AIM: SMD), a
predictive analytics company that develops proprietary AI algorithms and
optical technology for faster and more accurate treatment decisions in wound
care, announces the exercise of options by an employee of the Company.

An employee has exercised options over 20,000 shares of common stock of
US$0.001 each in the Company ("Common Stock") with an exercise price of $00.21
per Share.  Accordingly the employee will be issued 20,000 shares of Common
Stock in the Company.

The Shares will be restricted securities as defined in Rule 144 of the US
Securities Act of 1933 and have been issued pursuant to an exemption from
registration under Section 904 of Regulation S under the US Securities Act of
1933, as amended.

The Company will apply for 20,000 Shares to be admitted to trading on AIM,
with admission expected to take place at 8:00 a.m. on or around 31 December
2021 ("Admission"). The Shares will rank pari passu in all respects with the
Common Stock. There is no Common Stock held in treasury.

Following Admission, the total number of shares of Common Stock in issue will
be 136,097,064, with one voting right per share of Common Stock.  Therefore,
the total number of voting rights in the Company will be 136,097,064

Consequently, the above figure may be used by shareholders in the Company as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest in, the
share capital of the Company under the Company's Certificate of Incorporation.

 For further information, please contact:

 Spectral MD Holdings, Ltd.                                                                          https://investors.spectralmd.com/ (https://investors.spectralmd.com/)
 Wensheng Fan, Chief Executive Officer                                                               via Walbrook PR

 Nils Windler, Chief Financial Officer

 SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)                                 +44 (0) 20 3470 0470
 Stuart Gledhill/Caroline Rowe (Corporate Finance)

 Vadim Alexandre/Rob Rees (Sales and Corporate Broking)
 Stifel Nicolaus Europe Limited (Joint Broker)                                                       +44 (0) 20 7710 7600
 Charles Hoare / Ben Maddison / Will Palmer-Brown

 Walbrook PR Ltd (Media & Investor Relations)      +44 (0)20 7933 8780 or spectralMD@walbrookpr.com
 Paul McManus/Sam Allen                                                     +44 (0)79 8054 1893/ +44 (0)75 0255 8258

 Alice Woodings                                                             +44 (0)74 0780 4654

About Spectral MD

 

Using its DeepView(®) Wound Imaging Solution, an internally developed AI
technology and multispectral imaging solution that has received FDA
Breakthrough Designation for the burn indication, Spectral MD is able to
distinguish between non-healing and healing human tissue invisible to the
naked eye. In its ongoing clinical trials, Spectral MD is studying its ability
to provide 'Day One' healing assessments for burn wounds and diabetic foot
ulcers with other applications being explored.

 

Spectral MD has to date received substantial support from the U.S. government
with contracts from institutions such as Biomedical Advanced Research and
Development Authority, National Science Foundation, National Institute of
Health and Defense Health Agency in support of the burn application for its
DeepView(®) solution, with total grant funding received to date from all
these organizations of over $93 million, including $40.5 million received in
2021.  This grant funding is non-dilutive to our shareholders and the Company
believes it validates the important nature of our mission and technology. The
Company leverages this funding to support R&D efforts that are applicable
to burn, DFU and potentially other indications where DeepView can play an
important role in Day 1 wound healing assessment.

 

The Company has two principal trading subsidiaries, Spectral MD, Inc. and
Spectral MD UK Limited.

 

DeepView(®)

DeepView(®) is a predictive analytics platform that integrates proprietary AI
algorithms and advanced optical technology for wound healing predictions. It
is non-invasive, non-radiation, non-laser and does not require the use of
injectable dye. This integration can be characterised into four distinct
components: DeepView(®) imaging, data extraction, AI model building and AI
wound healing prediction.

 

·    The DeepView(®) imaging technology consists of patented,
proprietary, multi-spectral optics and sensors that can classify wound tissue
physiology and capture the viability of various biomarkers within the skin.
The imaging technology extracts appropriate clinical data, processes the
image, and displays a comparison of the original image next to an image with a
colour overlay of the non-healing portions of the wound. The image acquisition
takes 0.2 seconds, and the output takes approximately 20 to 25 seconds.

·    The DeepView(®) data extraction consists of proprietary optics that
are able to collect millions of data points from each raw image. This
information is then used to build and continually improve the AI model, which
is trained and tested against a proprietary database of more than 66.7 billion
pixels with an ever-growing input of clinically validated data points.

·    The AI algorithm then produces a predictive wound healing assessment
in the form of an objective, accurate, and immediate binary wound healing
prediction. This prediction is graphically represented to the clinician
through a coloured overlay of the original image that annotates the
non-healing portion of the wound.

 

DeepView(®) is designed to allow clinicians to make a more accurate, timely
and informed decision regarding the treatment of the patient's wound. In the
case of DFUs, a non-healing assessment would provide the clinician with the
appropriate justification to use an advanced wound care therapy on 'Day One'
as opposed to waiting 30 days and potentially losing the patient to lack of
patient follow-up or risking patient noncompliance with standard wound
therapy. For burn wounds, the clinician can make an immediate and objective
determination to identify appropriate candidates for surgery as well as
determining what specific areas of the burn wound will require skin grafting.
In clinical research to date, DeepView(®)'s accuracy for determining the
healing potential of burn wounds has been 92  percent in adults and 88
percent in children, compared with current physician accuracy of 50 to 70
percent. The current clinical accuracy of DeepView(®) is 83 percent for DFUs.
Both of these accuracy percentages are expected to increase with additional
R&D efforts, including clinical studies.

 

Spectral MD's products are currently in the research and development phase.
The safety and efficacy of Spectral MD's products have not yet been evaluated
by the applicable regulatory authorities and are not at this time approved,
cleared, marketed, or available for sale or reimbursement in any market.

 

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