Brain+ (BRAINP) Investor Update summary

Business and product strategy

• Focused on health tech solutions for dementia, leveraging software-aided cognitive training and memory testing technologies.

• CST Assistant, a tool for therapists, addresses major pain points in dementia therapy delivery, including preparation time and standardization.

• Endorsed by leading experts and supported by strong clinical evidence, CST is the only non-drug therapy recommended by NICE and the World Alzheimer's Association.

• Usability trials in the UK confirm significant time savings and positive feedback, de-risking market entry.

Go-to-market and regulatory plan

• UK is the primary target market, with a bottom-up approach via partnerships with charities like Age UK and a top-down approach targeting NHS trusts.

• CST Assistant version 2 launches in Denmark in Q2, followed by UK launch as a Class I medical device in Q3, meeting all regulatory and GDPR requirements.

• Early adopter NHS trusts identified with the help of Quiddity Health, focusing on those experienced in CST and digital health adoption.

• Sales model aligns with NHS budget cycles, aiming for annual recurring contracts and UK market break-even in 2025.

Commercial and financial outlook

• Regional reimbursement through Integrated Care Systems could lead to contracts up to GBP 500,000.

• Quiddity Health drives sales outreach, leveraging proven strategies from other digital health successes like SilverCloud.

• UK dementia care costs exceed GBP 25 billion annually, highlighting market potential.

• Projected EUR 20 million in sales could yield a market cap of EUR 80–100 million, a significant increase from current valuation.