• Commencing Commercial Deliveries of its Generation 2 AptameX^TM Covid-19 tests kits with Nahdlatul Ulama DKI in Jakarta, Indonesia

Zurich, 14 November 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB:  ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) is proud to announce that following pilot production with manufacturing partner PT Indofarma Tbk, the Company is now commencing commercial deliveries of its Generation 2 AptameX™ Covid-19 test kit to Nahdlatul Ulama DKI (NU) and other commercial clients, both starting in and around Jakarta.

“We’re excited to commence commercial deliveries in Indonesia.  Following a pilot program in Jakarta earlier this year we will resume the rollout of AptameX to schools and businesses,” stated Steven Goh, CEO of Achiko.  “As the world moves to treating Covid-19 as endemic, AptameX represents the right combination of a friendly, affordable and accurate solution for the future.”

Nahdlatul Ulama DKI is the Jakarta branch of Nahdlatul Ulama, which nationally in Indonesia has over 90 million registered members and operates over 6,000 schools and universities, and several hundred hospitals and clinics.  Achiko had earlier in 2022 signed a marketing and sales agreement to deliver 1 million tests, before growing to 5 million per month in 2022.

AptameX is a saliva based Covid-19 test using DNA aptamers bound to gold nanoparticles in a colloidal solution, and the result is read by a UV Spectrophotometer and then analysed with custom software.  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.

“We’ve had some distractions along the way, but we’re excited to get things back on track.  We’ve secured materials supply, and establishing production in Indonesia and Taiwan, and now we’re looking forward to delivering on a solution that’s right for Indonesia and bringing it to the world,” added Goh.

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. 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.

• Completing Production Pilot for Generation 2 of AptameX^TM as a Precursor to Mass Commercial Production
• Expect to Commence Delivery to Sales and Marketing Contract with Nahdlatul Ulama on Commencement of Mass Production

Zurich, 2 November 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB:  ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) is proud to announce that it has successfully completed a production test with PT Indofarma Tbk as a precursor to mass production of its Generation 2 AptameX™ Covid-19 test kit.  Generation 1 was successfully calibrated and delivered near perfect results earlier this year.  Generation 2 is optimised for cost and production.

“We’re excited to pass this milestone”, said Mr Steven Goh, CEO of Achiko AG. “We’ve been distracted with corporate issues this year, and we’re keen to get back to delivering on our sales and marketing contract with Nahdlatul Ulama.”

Earlier in 2022, the Company announced a sales and marketing contract with Nahdlatul Ulama, the world’s largest Islamic organisation with over 90 million registered members primarily in Indonesia.   The plan was to deliver 5 million tests per month in Q4 2022 rising to over 10 million per month in 2023.  The contract is currently behind, however the Company expects to commence delivery as the Company enters the new year.

“As we move to the endemic phase, Covid-19 presents a serious challenge for healthcare, critical manufacturing, key services such as government and education, tourism, and leisure.  The distractions in the middle of the year are regrettable and we are working with key shareholders and partners to organise ourselves with the right board and management configuration to more consistently realise the value of an affordable, fast, highly accurate, user friendly Covid-19 test such as AptameX in low and middle income countries (LMIC) such as Indonesia,” added Goh.

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. 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, 7 October 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB:  ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) a healthcare technology company that is developing new innovations and disruptive diagnostic solutions that put people first announced that it has appointed Lars Birkmann as Chief Financial Officer (CFO) as of 5^th October 2022, succeeding Adam O’Keeffe as ad interim CFO.

Mr Birkmann, 44, has successfully worked in the Swiss life sciences sector for over twenty years and has been involved in all areas of finance from accounting, financial control, treasury, and mergers and acquisitions.  He will take over the CFO position at Achiko and join the Company’s Executive Committee.  Prior to Achiko, Lars was the CFO at Ender Diagnostics AG (Bern) and before that the CFO for Sensile Medical AG (Olten). 

Lars has completed his studies in Economics and Study in Law, and a degree in Business from the Business School in Leipzig. He is also a federal expert in European and Swiss VAT law.

“We are excited to welcome Lars on board”, said Mr Steven Goh, CEO of Achiko AG.  “It’s the start of a process to build an executive team and Board with Swiss representation and is a decisive step towards the Company’s final transformation into becoming a diagnostics and technology company.”

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. 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.

• Achiko reports an EBITDA loss of USD 1.9 million, compared to an EBITDA loss of USD 4.6 million for the 6 months ending 30 June 2021.
• Focal points of the first half year were completion of a major new sales contract in Indonesia, obtaining a CE Mark for AptameX™ and streamlining the organisation ahead of launching and scaling production for sales to Indonesia and other countries.
• AptameX™, Achiko’s proprietary low-cost, saliva-based Covid-19 diagnostic, has shown competitive product performance to other Covid-19 testing solutions with calibration testing confirming its ability to deliver a >97% sensitive and >97% specific rapid test at a wider range of viral loads than most other rapid tests.
• After the balance sheet date, raised CHF 1.25 million in financing with sophisticated investors.

Zurich, 2 October 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB:  ACHKF; ISIN CH0522213468) (“Achiko”, the “Company) is pleased to announce its financial results for the period of 6 months to 30 June 2022, and its progress since then which can be found at https://www.achiko.com/financials.

In the first half of 2022, Achiko AG has confirmed that calibration testing of its affordable non-invasive Covid-19 saliva-based rapid test technology, AptameX^TM, indicated the system’s ability to deliver a >97% sensitive and >97% specific rapid test at a wider range of viral loads than most other rapid tests.

“The ability to offer healthcare professionals a practical alternative to PCR tests and less accurate antigen based rapid tests has been a major driver for Achiko’s research and clinical development teams to produce the world’s first scale application using DNA aptamers in a commercial diagnostic setting”, said Mr Steven Goh, CEO of Achiko. “The use of differentiated chemistry to develop a range of non-invasive, highly accurate, and cost-effective rapid tests with Achiko’s AptameX™ technology, positions the Company at the leading edge of diagnostic development moving forward.”

Despite another challenging period for the Company, it has made significant progress with its initial commercial application of its AptameX™ technology and expects to be generating significant revenue from AptameX™ in Indonesia in the final quarter of 2022.

Commercialisation in Indonesia and beyond

A key focus of operations during the reporting period was to progress the Company’s efforts to successfully launch a scalable test product in Indonesia.  As part of this, the Company completed its pre-sales validation process in Indonesia with first generation test kits and identified a range of improvements that are being incorporated into its second-generation product.  Key materials are now being produced in Taiwan and scale plastics and assembly being undertaken in Indonesia.

In April, the Company signed a major marketing and sales agreement with Pengurus Wilayah Nahdlatul Ulama DKI Jakarta (PWNU), the Jakarta District of Nahdlatul Ulama (NU), the largest Islamic organisation in the world, located primarily in Indonesia. The agreement provides for the supply and delivery of aptamer-based diagnostics, first to its Jakarta branch of over 4 million members, and on success, to the larger membership of over 90 million registered members.  At the same time, the Company signed an updated agreement with PT Indofarma TbK (Indofarma) to use its sister digital passporting service Teman Sehat^TM (“Health Buddy”) as a telehealth platform for its diagnostic services.  Indofarma is one of Indonesia’s oldest pharmaceutical companies (part owned by the Government). It supplies over 13,000 pharmacies, 4,000 hospitals, and 9,000 health facilities. It also conducts testing in over 100 airports and is a national manufacturer of medical devices and the National Contract Research Organisation.

In May, the Company successfully registered AptameX™ under the European Union Medical Device Research and In Vitro Diagnostic Regulation and obtained a CE Mark that grants it access to 27 countries in the European Union for its Covid-19 AptameX™ test and system.

Financial results

Achiko concluded the first half of 2022 with an operating loss of USD 2.4 million in comparison to a loss of USD 4.6 million in the first half of 2021. The Company reduced its expense base in Switzerland and focused its development efforts through one primary research and development team.

The ability to manage costs with a reduced footprint has been important during a challenging period for the Company. Delays with completing the full year accounts and subsequent audit took up a considerable amount of management time and attention and contributed to the Company’s delay to raise sufficient finance in time to launch and scale production in Indonesia as planned before the end of the period.

Post balance date, the Company has completed CHF 1.25 million in financing by a number of sophisticated investors. Funds are being applied to launching and scaling commercialisation efforts in Indonesia and beyond and bringing the Company towards good standing.

Steven Goh commented: “We are grateful to our shareholders and our partners for their help and support and look forward to a brighter finish to 2022 and beyond.”

AptameX™: Product development, sales and market outlook

Achiko’s core objective is to bring access to better, more affordable and accurate diagnostics. Goh added.  “With its AptameX™ technology, the Company is well placed to take advantage of major healthcare trends including delivering increasingly accurate diagnosis at Point of Care by non-invasive means and using technology to deliver rapid results in real time.”  AptameX™ offers public health assurance through early detection by regularly using a telehealth platform for diagnostics equipped with the latest technological diagnostic tests that are comfortable, accurate and affordable.

Despite delays in production to meet forecast demand, the outlook for AptameX™ in Indonesia remains encouraging and the Company expects to be producing and delivering over 1 million tests per month in the final quarter of this calendar year.  Samples are also being produced for use in other Asian countries, Europe and the Middle East.

Corporate Initiatives

During the Reporting Period, the Company welcomed Mr Derek Brandt as a Member of its Advisory Board and after balance date farewelled Ms Carol Aebi.  The Company is moving to strengthen its corporate leadership in Finance and other important functions with a series of key executive appointments.  Further details shall be released in advance of and as part of the upcoming AGM that will now be held in late October / early November at a date to be announced.

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, ApatameX™, 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. 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.

• ACHI shares resumed trading on SIX Swiss Exchange on 1 September after successful completion of Audit and Financing
• Key Swiss investors provide CHF 1.3 million via convertible notes
• Successful calibration of Generation 2 AptameX™ product
• Steven Goh, CEO, to step down upon appointment of successor

Zurich, 6 September 2022: Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB:  ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) is pleased to provide an update on the Company, and its production progress and technology transfer for AptameX^TM, its proprietary, low-cost rapid Covid-19 diagnostic test that is integrated into its platform, Teman Sehat^TM (“Health Buddy”). 

The Company’s shares resumed trading on the SIX Swiss Exchange on 1 September 2022 and Achiko will hold its Annual General Meeting in late September or October 2022 on a date to be announced in due course.

“We regret the delays with the audit, accounts and recent suspension”, stated Steven Goh, CEO of Achiko AG.  “I underestimated the challenges over the past 12 months and we are working with our key Swiss stakeholders to ensure that this never happens again.  This means establishing the right foothold in Switzerland, including updating the Board of Directors and adding leadership in finance and other positions.”

The Company had earlier announced a Sales and Marketing contract with Nahdlatul Ulama, the largest Islamic association in the world with over 90m registered members, and distribution and manufacturing with Indofarma, to produce 1m kits per month by August 2022, and 5m per month onwards, and a CE Mark registration in May 2022.

The SIX trading suspension temporarily affected the Company’s operations including product development, and marketing and sales. 

“We are around two to three months behind our contractual commitments in Indonesia and responding to sales interest from around the world”, added Goh.  “Fortunately, as we live with Covid-19, the demand for the right user friendly, affordable and highly accurate test for key government, healthcare, vulnerable communities, and other key industries has only gone up and AptameX is in a good position here.”

The Company has also closed a financing round for CHF 1.3 million in convertible notes, exercisable as to 50% between 6 and 12 months from issue at CHF 0.059 with the balance exercisable at the Company’s election on the same terms or repayable, 12 months from issue. The round was led by key Swiss shareholders, Buranto AG and SSUG Pipe Fund, together with other new investors. 

“The financing enables us to deploy the production capacity in Indonesia and Taiwan needed to respond to demand and get the Company to cashflow positive.”

“Irrespective of the delays, we have successfully applied the updated calibration for our Generation 1 product.  We’re pleased to report that we’ve continued to show strong results with a sensitivity and specificity over 98% when compared to PCR results, and Generation 2 similarly shows strong results over 93%.” said Goh.  “Further performance gains may be achieved as the Company collects more data and is able to optimise the system.”

Mr Steven Goh will be stepping down as CEO later this year and is working with the Company’s Board and Advisory Board to search for a Swiss based successor.  Going forward, he will remain an Executive at the Company, overseeing commercialisation efforts particularly in Asia.

“Despite some challenges, it’s been an incredible journey,” said Goh. “It became apparent during the pandemic that the opportunity to bring contemporary diagnostics solutions to market in Indonesia not only would be good for our shareholders, but also that disruption in diagnostics was urgently needed by patients and desired by the healthcare systems that serve them, especially here in Asia.”

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, ApatameX™, 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. 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.