Bactiguard (BACTI) Strategy Update summary

Updated Strategic and Financial Targets

• 2030 targets include at least 10 application areas in exclusivity or license partnerships, revenues of at least SEK 600 million, and EBITDA of at least SEK 200 million.

• Two-thirds of 2030 revenue is expected from existing businesses, primarily urology with BD and wound management, with one-third from new partnerships.

• Targets are revised downward from previous goals, reflecting a more realistic and data-driven approach after comprehensive market and internal review.

• Profitable growth in wound management, led by Hydrocyn Aqua, is integrated into overall financial targets and continues to deliver double-digit growth.

• Significant operational leverage and EBITDA expansion are anticipated beyond 2030 as new partnerships mature.

Strategic Focus and Business Transformation

• Shifted from production and sales to a partnership and business development model, leveraging differentiated infection prevention technology.

• Five key therapeutic areas prioritized: orthopedics, vascular access, cardiology, neurology, and urology, with high unmet medical needs and large addressable markets.

• Learnings from the Zimmer Biomet partnership termination informed the updated targets and deeper understanding of regulatory requirements.

• Board expertise in surgery and cardiology supports realistic assessment of market potential and business development.

• Comprehensive market and partnership analysis guided the updated focus and goals.

Partnership Development and Go-to-Market Timelines

• Partnership journey from early-stage testing to commercialization typically takes 5 years for Class 2 and 7 years for Class 3 devices.

• Early feasibility and performance testing are conducted under material transfer agreements before exclusivity or licensing is announced.

• New partnerships and application areas are expected to drive future growth, with milestone fees and exclusivity revenues contributing by 2030.

• Regular updates on partnership progress will be provided, with confidentiality maintained in early phases.

• Regulatory expertise is being strengthened internally to better support U.S. market approvals and partner collaborations.