Announcements

Zurich, 23 May 2023: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) is providing an update on its financial and operational condition.

The Company reports that it is over-indebted according to article 725b of the Swiss Code of Obligations, and the Company has received a court order regarding its solvency, and to deliver books and records within 10 days.  Additionally, the Company’s auditor, Grant Thornton, has resigned.

“We regret the situation, and we’ve been battling it hard to make it work between an Indonesian commercial opportunity and a Swiss company and this is as far as it goes,” said Mr Steven Goh, CEO of Achiko AG.  “We believe that there’s a valuable combination of assets within the Group, and hope there may yet be an opportunity for our long suffering shareholders and creditors.”

ABOUT ACHIKO AG

Achiko AG (SIX: ACHI.SW;  www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport.  AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.  

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world. 

Media contacts:

ACHIKO AG
Investor Relations
E: ir@achiko.com

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

• The Company reports that it is over-indebted according to article 725b of the Swiss Code of Obligations, and the Company has been referred to the Court
• Successfully filed a Patent in Europe, Australia, USA, China, Taiwan and Indonesia
• Currently reorganising production in Indonesia

Zurich, 18 May 2023: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG(SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) is providing an update on its financial and operational condition.

The Company reports that it is still yet to complete its consolidated accounts, and that the parent company is indebted with over CHF 9m in debts.  The majority is comprised of convertible loans which are unconverted and may possibly convert to about 46m shares.  Additionally, the debts also include about CHF 2.8m in trade debts where over CHF 1.4m is staff and employee related.

Operational results in Indonesia and elsewhere, whilst encouraging remain relatively unchanged.  The Company has successfully completed a production test with an alternative facility, however has yet to complete commercial arrangements.  It continues to see confirmatory data supporting the accuracy of its test and has successfully filed a Patent now in Europe, China, Taiwan, Indonesia, Australia, and the USA.

“It’s a shame we’ve not been able to solve production issues in time in Indonesia”, said Steven Goh, CEO and Cofounder of Achiko AG.  “Whilst the Covid-19 pandemic has ebbed and we are now living with Covid-19, the proof point of the technology and its applicability to a wide range of other pathogens we believe still presents opportunity.  If the pandemic has shown us anything, it’s the inadequacy of accurate, abundantly accessible and available diagnostics.  If it’s Covid-19 or other infectious diseases, microbial, oncological, or others, I remain optimistic about the opportunity and the technology here to solve it.”

“Over the last few months, the Company has been working towards a number of restructure options, however has yet to mature any in the timeline needed to meet capital requirements and at this time is unlikely to do so.”

ABOUT ACHIKO AG

Achiko AG (SIX: ACHI.SW;  www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport.  AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.  

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world. 

Media contacts:

ACHIKO AG
Investor Relations
E: ir@achiko.com

Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Zurich, 2 May 2023: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) announces that Achiko will publish its annual report and its annual financial statements for the year 2022 on 31 May 2023 at the latest. As a company listed on SIX, Achiko is required to publish its annual report, together with the annual financial statements, within four months of the balance sheet date.

The Company continues to be challenged by both opportunities presented by outstanding results, and last mile manufacturing issues which have cascaded to affect operations, which includes financial operations.  As a result, the publication of the annual report 2022, together with the annual financial statements and the audit report, will occur by 31 May 2023. Achiko filed an exemption request with SIX Exchange Regulation (SER) regarding the publication of the annual report and the annual financial statements 2022. On 28 April 2023, SER granted Achiko the requested extension. 

As required by SER, Achiko hereby reprints para. I of SER’s respective decision:

“The exemption application of Achiko (Issuer) dated 28 April 2023 requesting an extension of the deadline to publish its 2022 annual report and to file such report with SIX Exchange Regulation AG until 31 May 2023 at the latest is granted with the following reservation (lit. b and c):

a. SIX Exchange Regulation AG reserves the right to suspend trading of the registered shares of the Issuer in case its 2022 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange Regulation AG until Wednesday, 31 May 2023, 11.59 pm CET, at the latest.

b. Achiko is required to publish a notice in accordance with the provisions on ad hoc publicity (Art. 53 LR in connection with the DAH) concerning this decision until Tuesday, 02 May 2023, 7.30 am CET, at the latest. The notice must contain:
– the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
-the reasons for the application of the Issuer requesting an extension of the deadline to publish its 2022 annual report and to file such report with SIX Exchange Regulation AG.

c. Achiko is required to publish a notice in accordance with the provisions on ad hoc publicity (Art. 53 LR in connection with the DAH) concerning this decision until Monday, 15 May 2023, 7.30 am CET, at the latest. The notice must contain:
-the unaudited key figures such as net revenues, EBITDA, EBIT, profit/loss, balance sheet total, equity etc. for the annual results 2022.”

ABOUT ACHIKO AG

Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport.  AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.  

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.

Media contacts:  

ACHIKO AG

Investor Relations
E: ir@achiko.com

Switzerland & Global

Marcus Balogh
Farner Consulting Ltd
E: achiko@farner.ch
T: +41 44 266 67 67

Disclaimer 

This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In consequence, no undue reliance should be placed on these forward-looking statements by investors. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Zurich, 19 April 2023: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; ISIN CH0522213468) (“Achiko”, the “Company”) is pleased to provide updates on production and sales.

The Company continues to obtain intermittent results confirming the performance of the product and customer acceptance, however it continues to struggle to connect production to sales in Indonesia.  Whilst production and supply out of Taiwan, Spain, Singapore, and parts of Indonesia are of a commercial grade, last mile issues in Indonesia continue to be a challenge.  The Company has been working to reorganise production and distribution arrangements in Indonesia and look to other markets.

“With the time that this has taken and some unusual behaviour by some former staff, the Company has reached a point where its solvency and regulatory obligations are challenged”, said Steven Goh, CEO of Achiko AG.  “The Board is actively working towards a solution and hopes to be able to present this to shareholders in the near future.”

ABOUT ACHIKO AG

Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport.  AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.  

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.

Media contacts:  

ACHIKO AG

Investor Relations
E: ir@achiko.com

Switzerland & Global

Marcus Balogh
Farner Consulting Ltd
E: achiko@farner.ch
T: +41 44 266 67 67

Disclaimer 

This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In consequence, no undue reliance should be placed on these forward-looking statements by investors. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

• AptameX™ Gen 2 Covid-19 rapid calibration outperforms Abbott Pan Bio and Clugene’s rapid tests in Indonesia in validation tests.
• Sample of 20 PCR Positive and 9 Negative samples, indicated a 100% match between AptameX™ Gen 2 product to PCR, whilst Clungene and Abbott’s Pan Bio were between 6% and 50% sensitive only.
• Achiko remains committed to sales and is resolving production issues.

Zurich, 21 December 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) is pleased to provide updates on test performance, production and sales.

Test Performance

As the Company is proceeding to sales and is currently going through external validation, the Company is proud to report that early results indicate a strong performance against other forms of testing (see table below).

“The price versus performance, user friendliness, and the affordability of the test compares well against other categories of testing,” said Steven Goh, CEO of Achiko AG.  “As the world considers Covid-19 as endemic, the shift is now to deliver the right test for key industries such as healthcare, manufacturing, tourism and leisure, key government and other applications.”

“Additionally, these results pave the way for other tests.  The diagnostic industry responded quickly with PCR and rapid testing, and our success with AptameX™ opens up a new field of more accessible and precise diagnostics.”

Unlike molecular and immunoassay approaches, the test’s use of DNA aptamers has yielded encouraging results at low viral loads outperforming most lateral flow based rapid tests. This is particularly important as early detection provides communities the opportunity to better manage and minimise the spread of the virus, treat the affected population more effectively, and limit adverse effects on economies and people’s livelihood.

Production and Sales

Earlier in 2022, the Company signed a Sales and Marketing agreement with Nahdlatul Ulama (DKI), with the view of supplying over 5 million tests per month.  The Company has secured plastic moulding and supply to respond to that demand, but has been slowed by corporate distractions and production issues as it upgraded from the initial Gen 1 product to an even more precise Gen 2 product for scale production.

“The support from our Swiss investors in September, and the Annual General Meeting has paved the way for the Company to update and strengthen its board with a blend of local and international experience and reorganise its balance sheet,” added Goh.  “Sales and securing raw materials aren’t the problem, it’s been organsing production.  This is the first time that anyone has produced a non-invasive, highly sensitive and specific aptamer-based solution that can potentially transform accessibility and affordability in a range of markets for a range of applications. Understandably, that’s not without challenges and, whilst we’ve made significant progress, it’s taken longer than expected to understand and address the issues to be ready for commercial launch and scaling and accordingly, we are still not producing the levels planned. However, we believe we understand the issues now and are moving quickly to resolve the situation.” The Company is grateful for the support of its partners on the ground who have been instrumental in helping prepare for this and are excited by the opportunity to introduce more accessible and precise diagnostics to the population at large.  There has been no change in the levels of demand for AptameX and the Company is expecting to supply in volume in accordance with previous indications.

ABOUT ACHIKO AG

Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that put people first. The Company’s lead product, AptameX™, is a rapid, reliable Covid-19 test with a companion app, Teman Sehat™, offering a user-friendly digital health passport.  AptameX™ and Teman Sehat™ were launched in Indonesia in mid-2021 and AptameX™ received the CE Mark in the European Union in May 2022.  

The AptameX™ DNA aptamer tests can be rapidly chemically synthesised, are cost-effective, easily scalable and have broad potential across multiple disease areas. Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of diseases in the rapidly evolving healthcare diagnostics field.  

Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.

Media contacts:  

ACHIKO AG

Investor Relations
E: ir@achiko.com

Switzerland & Global

Marcus Balogh
Farner Consulting Ltd
E: achiko@farner.ch
T: +41 44 266 67 67

Disclaimer 

This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In consequence, no undue reliance should be placed on these forward-looking statements by investors. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.