- 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.
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.