Interim report
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Interim Report January - June 2025
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Interim Report January - June 2025 Acarix Second Quarter & First Half 2025 Summary KEY Q2 TAKEAWAYS Second quarter 2025 compared to the same period in 2024 ● Total revenue amounted to SEK 1,140 thousand (1,958), a decrease of 42%, as expected based on divesting in the EU and focus efforts in the US and that the majority of CADScor units were consigned vs sold ● Currency adjusted revenue decreased by 37% ● In the US, revenue amounted to SEK 595 thousand (1,040) a decrease by 43% (all consigned CADScor Units) ● Currency adjusted revenue decreased by 37% in the U.S. ● A total of 19 CADScor Systems (15) were delivered, an increase of 27%. All 19 systems were consigned and installed at customer sites within the US market. ● A total of 2,780 patches (3,530) were sold, reflecting a 21% decrease (lower EU Sales as expected) ● In the U.S., patch sales amounted 1,400 (1,260), an increase of 11% ● Gross margin amounted to 94% (91) ● Operating costs amounted to SEK 13,915 thousand (18,368), a decrease of 24% ● Net loss was SEK -12,863 thousand (−16,661), an improvement of 23% ● Net cash flow for the period was SEK -13,027 thousand (-15,242) ● Earnings per share were SEK -0.01 (-0.02). First half of 2025 compared to the same period in 2024 ● Total revenue amounted to SEK 2,870 thousand (3,509), a decrease of 18% ● Currency adjusted revenue decreased by 17% ● In the US, revenue amounted to SEK 1,829 thousand (2,008), a decrease of 9% ● Currency adjusted revenue decreased by 7% in the U.S. ● A total of 39 CADScor Systems (28) were delivered, an increase of 39% ● In the U.S., 38 CADScor Systems (27) were delivered, an increase of 41% ● A total of 5,940 patches (6,054) were sold, a decrease of 2% ● In the U.S., 3,520 patches (2,300) were sold, an increase of 53% ● Gross margin amounted to 86% (91) ● Operating costs amounted to SEK 29,352 thousand (34,708), a decrease of 15% ● Net loss amounted to SEK -26,971 thousand (-31,591) ● Net cash flow amounted to SEK -24,794 thousand (12,742) ● Cash and cash equivalents amounted to SEK 32,260 thousand (48,271) ● Earnings per share amounted to SEK –0.02 (–0.04) ● A number of shares amounted to 1,123,320,142 (1,123,320,142). 2
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Interim Report January - June 2025 Significant Events during the Quarter April ● N/A May ● Aamir Mahmood, President and CEO of Acarix, announced an increase in his investment in the company by acquiring 1,000,000 shares at an average price of SEK 0.20. Following this acquisition, he holds a total of 9,904,824 shares and 50,000,000 stock options. June ● Acarix announced that the first payor has agreed to provide fixed reimbursement for the CADScor® System at a rate of $300. The payor is a regional Third Party Administrator (TPA) based in Oklahoma, specializing in the administration of self-funded employee benefit plans. ● Acarix announced the publication of a new peer-reviewed study in PharmacoEconomics – Open demonstrating that the CADScor® System is a cost-effective diagnostic tool for evaluating low-risk chest pain patients in U.S. emergency departments. Results showed that a “CADScor-First” strategy could lead to substantial cost savings—estimated between $7.3 million and $15.3 million per 10,000 patients—without compromising patient safety. Significant events after June 30, 2025 ● Acarix announced its first order in the Middle East and North Africa (MENA) region. Valued at 1.35M SEK, this order from a leading regional distributor represents a significant step in Acarix’s international expansion strategy. ● Acarix announced that a second payer has agreed to provide fixed reimbursement of $300 for the CADScor® System. This reimbursement applies across both physician office settings and outpatient/emergency department (ED) environments. This Payer provides a Network that services employers and individuals in the Oklahoma, Texas, Ohio, and Louisiana markets which consists of over 500,000 covered lives with 12,000+ Primary Care Physicians, 69.000+ Specialists and 3,000+ Facilities/Ancillaries. U.S. Acoustic Patch Sales U.S. CADScor System Installations Accumulated Accumulated 3
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Interim Report January - June 2025 Comments from the CEO In Q2, we continued to execute on our strategy to focus resources on the U.S. market, positioning Acarix for long-term, sustainable growth. This strategic shift inevitably meant a temporary slowdown in Germany, as expected, until we have the resources to fully re-engage that market. Our priority remains clear: establish a strong U.S. foothold, secure reimbursement, and drive adoption of the CADScor® System as a first-line diagnostic tool for chest pain. While the path to fixed reimbursement in the U.S. has taken longer than anticipated, the progress made in Q2 marks a turning point. In June, we secured our first fixed-rate reimbursement from a U.S. payor at $300 per test. Shortly after quarter close, a second payor came on board, expanding coverage to more than 500,000 lives across multiple states. This second agreement proves that the first was not an isolated win, and we believe it signals the start of a snowball effect that will unlock broader access for providers and accelerate adoption. Historically, the evolution to fixed reimbursement takes 12–18 months, and we are closing in on the 12-month mark with the largest payor in the U.S. Commercial performance in the U.S. was strong. We delivered 19 CADScor® Systems, a 36% increase over Q2 last year, while patch sales rose 11%. This validates a core belief: once the CADScor® System is installed, clinicians use it consistently. This is the best proof point we can ask for, showing not only installation growth but also deep clinical integration. Our financial discipline remains a competitive strength during the quarter. We maintained a 94% gross margin, reduced operating expenses by 24%, and improved net loss by 23% year-over-year. These results demonstrate that our operating model is scalable and that we are advancing with purpose while preserving efficiency. Our value proposition is also being reinforced by strong peer-reviewed evidence. A recent publication in PharmacoEconomics – Open demonstrated that the CADScor® System could reduce healthcare costs by $7.3M to $15.3M per 10,000 U.S. emergency department patients. Applied at scale, this represents a multi-billion-dollar potential savings opportunity for the healthcare system, a compelling case for payors, hospital systems, and providers alike. I remain deeply confident in our mission and market opportunity. In Q2, I personally increased my equity position by acquiring an additional 1 million shares, underscoring my commitment to Acarix and my belief in our trajectory. As we move into the second half of the year, our focus is clear: ● Expand reimbursement coverage across key regional payors ● Drive clinical utilization through targeted provider engagement ● Scale U.S. commercial operations while maintaining operational efficiency ● Elevate market awareness of the CADScor® System as the standard of care for chest pain triage Our vision is unchanged: to make CADScor® Systems the standard of care in chest pain triage, and to do so with economic, clinical, and human impact at the center of everything we build, and we are very optimistic in our ability to achieve these goals. To our investors, our partners, and our team: thank you for your continued support and belief. Aamir Mahmood President & CEO 4
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Interim Report January - June 2025 Financial Reports Profit/Loss Statements Second quarter During the current quarter, net sales amounted to SEK 1,140 thousand, compared to SEK 1,958 thousand in the corresponding period of the previous year, representing a decline of 42%. Adjusted for currency changes, sales declined by 37%. The decline in sales is primarily due to an expected decrease in patch sales within the DACH region, based on the divestment in that area. Additionally, sales were impacted by a one-time, strategically priced order from a key U.S. customer to promote higher patch utilization in the future. In terms of system deliveries, a total of 19 systems were shipped as consignments during the quarter, all within the U.S. market. In the same quarter of the prior year, 15 systems were delivered, of which 13 were consignments and one was sold directly in the U.S. market. In the U.S., patch sales experienced an increase, rising from 1,260 units to 1,400 units, reflecting an 11% growth compared to the same quarter in 2024. The slower growth rate for patch sales in the U.S. is due to large patch orders received in previous quarters, which decreased the need for additional purchases this quarter. Additionally, the lead time for system installation and training during the period impacts patch sales in the short term. The gross margin on patch sales remained strong at 94%, maintaining a 3 percentage point improvement over the same quarter of the previous year. Operating expenses for the period totaled SEK -13,915 thousand, representing a 24% decrease compared to SEK 18,368 thousand in the same period of 2024. This reduction underscores the company's ongoing cost-saving initiatives and improved operational efficiency, which are now fully realized. The net loss for the period amounted to SEK -12,863 thousand, representing an improvement of SEK 3,798 thousand, or 23%, compared to the same period last year. First half year Revenue for the period totaled SEK 2,870 thousand (3,509), with 90% of this amount generated from patch sales. The substantial contribution from patches is primarily due to the adoption of our U.S.-based business model, which involves placing systems on consignment. In the first six months, we delivered 39 systems to the market, of which 19 were on consignment—compared to a total of 28 systems last year, with 23 on consignment. This consignment-based approach positions us for sustainable growth and future expansion. Gross profit was SEK 2,473 thousand, representing a gross margin of 86%, compared to SEK 3,202 thousand and a 91% margin in the same period of 2024. The 5 percentage point decline is primarily due to two one-time, strategically priced orders in the previous 6 months for key customers, intended to promote future high patch utilization. Total operating expenses for the period were SEK 29,352 thousand, down from SEK 34,708 thousand in the previous year, reflecting a cost reduction of SEK 5,356 thousand or 15%. The net loss for the period was SEK -26,971 thousand, representing an improvement of SEK 4,624 thousand, or 15%, compared to the same period last year. 5
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Interim Report January - June 2025 Financial Position Overview Tangible assets totaled SEK 402 thousand, related to the net assets of CADScor Systems under the consignment model in the U.S. market. Intangible assets comprise the net value of patents and development costs, with a carrying amount of SEK 8,011 thousand (compared to SEK 10,942 thousand as of June 30). No acquisitions were made during the period. The inventory value reached SEK 7,277 thousand, reflecting a 22% increase from SEK 5,980 thousand in the same period last year. This rise in inventory is to accommodate the increased demand in the U.S. market. The company’s cash position amounted to SEK 32,260 thousand. As of June 30, equity amounted to SEK 47,728 thousand, compared to SEK 67,807 thousand as of June 30, 2024. The share capital was SEK 11,233 thousand, with a total of 1,123,320,142 shares registered at Swedish Companies Registration Office. Total current liabilities were SEK 5,153 thousand, compared to the previous year’s SEK 11,811 thousand. Cash Flow and Financing Second quarter Cash flow from operating activities, including changes in working capital, amounted to SEK -12,665 thousand (compared to SEK -15,258 thousand) for the second quarter. The negative cash flow primarily reflects the net loss and negative changes in working capital, driven by increased inventory levels to meet demand for our products. Cash flow from investing activities for the second quarter was SEK -361 thousand (compared to SEK 16 thousand), related to the capitalization of consigned CADScor systems. There was no cash flow from investing activities during the quarter. Net cash flow for the period was SEK -13,027 thousand (-15,242). First half year For the period January - June 2025, cash flow from operating activities, including changes in working capital, totaled SEK -24,332 thousand (compared to SEK 33,694 thousand in 2024). The negative cash flow is mainly due to the net loss. Cash flow from investing activities for the first six months was SEK -462 thousand (compared to SEK 162 thousand 2024), related to the capitalization of consigned CADScor systems. Financing activities was SEK 46,598 thousand related to the right issue after deduction of transaction costs. Net cash flow for the first six months was SEK -24,794 thousand (-12,742). The Parent Company The Board of Directors and executive management work continuously to secure the company’s long-term financing to ensure the operation of the business. The company’s growth plan is continuously balanced against the financial resources available at any given time. The established growth plan, which is driven by market demand, might require additional financing during 2025, which can be obtained through, for example, loans or issuances of shares. Auditor’s Review This interim report has not been reviewed by the company’s auditor. Certified Advisor Carnegie Investment Bank is the Certified Advisor of Acarix. 6
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Interim Report January - June 2025 Financial Reports Shareholder Register June 30, 2025 Number of shares Votes and capital Ibkr Financial Services AG 209,603,430 18.7% Försäkringsaktiebolaget Avanza Pension 39,616,035 3.5% Life Science Invest Fund 1 Aps 38,677,762 3.4% Carl Johan Mikael Thoren 34,209,755 3.0% Cbny-Charles Schwab Fbo Customer 29,245,121 2.6% Ubp Clients Assets - Sweden 26,228,413 2.3% Filip Frojden 24,162,504 2.2% Microtech Software AS 20,513,884 1.8% Saxo Bank A/s Client Assets 20,374,508 1.8% LLC Pershing 16,505,324 1.5% 10 largest owners 459,136,736 40.9% Other owners 664,183,406 59.1% Total as of June 30, 2025 1,123,320,142 100% Financial Calendar Interim Report, Q3 2025 November 6, 2025 Interim Report, Q4 2025 February 12, 2026 For more information, please contact Christian Lindholm CFO Email: christian.lindholm@acarix.com 7
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Interim Report January - June 2025 Group - Consolidated Statement of Income kSEK April - June 2025 April - June 2024 January - June 2025 January - June 2024 Year 2024 Revenue 1,140 1,958 2,870 3,509 6,202 Cost of goods sold -72 -169 -396 -307 -607 Gross profit 1,068 1,788 2,473 3,202 5,595 Research and development costs -3,985 -5,517 -8,276 -10,343 -25,385 Sales, general and administrative costs -9,930 -12,851 -21,076 -24,365 -46,583 Operating profit -12,847 -16,580 -26,879 -31,506 -66,373 Financial income 34 26 88 64 453 Financial costs -49 -107 -181 -149 -267 Profit before tax -12,863 -16,661 -26,971 -31,591 -66,187 Tax - - - Net loss for the period -12,863 -16,661 -26,971 -31,591 -66,187 Net income attributable to parent company's shareholders -12,863 -16,661 -26,971 -31,591 -66,187 Basic earnings per share (SEK) -0.01 -0.02 -0.02 -0,04 -0.07 Diluted earnings per share (SEK) -0.01 -0.02 -0.02 -0,04 -0.07 Average number of shares, before dilution (thousands) 1,123,744 852,500 1,123,744 813,170 920,813 Average number of shares, after dilution (thousands) 1,123,744 852,500 1,123,744 813,170 920,813 Group - Consolidated Statement of Comprehensive Income kSEK April - June 2025 April - June 2024 January - June 2025 January - June 2024 Year 2024 Net loss for the period after tax -12,863 -16,661 -26,971 -31,591 -66,187 Items that may be reclassified to profit or loss Foreign currency translation adjustment -1,962 -434 -4,124 505 1,105 Other comprehensive income for the period, net of tax -1,962 -434 -4,124 505 1,105 Total comprehensive income for the period, net of tax -14,825 -17,095 -31,095 -31,087 -65,082 Total comprehensive income attributable to: Owners of Acarix -14,825 -17,095 -31,095 -31,087 -65,082 8
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Interim Report January - June 2025 Group - Consolidated Statement of Financial Position kSEK June 30, 2025 June 30, 2024 Year 2024 Assets Tangible assets Tangible assets 402 191 470 Total tangible assets 402 191 470 Intangible assets Acquired rights 3,345 3,699 3,603 Development projects, capitalized 4,665 7,242 6,080 Total intangible assets 8,011 10,942 9,683 Financial assets Long term financial receivable - 920 - Total financial assets - 920 - Total fixed assets 8,413 12,052 10,153 Current assets Inventory 7,277 5,980 7,083 Accounts receivables 1,937 3,421 2,195 Other receivables 2,994 9,894 2,715 Cash and cash equivalents 32,260 48,271 58,615 Total current assets 44,468 67,566 70,608 Total assets 52,881 79,618 80,761 Shareholders's equity and liabilities Equity Share capital 11,233 9,732 11,233 Other contributed capital 675,272 636,392 675,272 Reserves 3,253 4,614 5,215 Retained earnings -615,059 -551,341 -549,836 Result for the period -26,971 -31,591 -66,187 Total equity 47,728 67,807 75,697 Current liabilities Accounts payable 1,874 2,472 1,394 Other liabilities 3,279 9,339 3,670 Total current liabilities 5,153 11,811 5,064 Total equity and liabilities 52,881 79,618 80,761 9
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Interim Report January - June 2025 Group - Consolidated Statement of Changes In Equity kSEK Share capital Share premium Other reserved Retained earnings & result of the year Total shareholders equity As at 1 January 2025 11,233 675,272 5,215 -616,023 75,697 Profit/loss for the period -26,971 -26,971 Other comprehensive income: Foreign exchange rate adjustment -1962 -1,962 Total 11,233 675,272 3,253 -642,994 46,764 Transactions with owners: Issue of warrants 964 964 At June 30, 2025 11,233 675,272 3,253 -642,030 47,728 As at 1 January 2024 7,372 592,153 4,110 -551,750 51,885 Profit/loss for the period -31,591 -31,591 Other comprehensive income: Foreign exchange rate adjustment 505 505 Total 7,372 592,153 4,614 -583,341 20,799 Transactions with owners: Issue of warrants 410 410 Share issue 2,360 44,957 47,317 Costs related to share issue -718 -718 At June 30, 2024 9,732 636,392 4,614 -582,932 67,807 10
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Interim Report January - June 2025 Group - Consolidated Statement of Cash Flow kSEK April - June 2025 April - June 2024 January - June 2025 January - June 2024 Year 2024 Operating activities Operating result -12,847 -16,580 -26,879 -31,506 -66,373 Adjustment for depreciation 847 725 1,739 1,436 3,290 Other non-cash items - - 878 Financial items -16 -81 -92 -85 186 Cash-flow before change of working capital -13,217 -15,936 -25,232 -30,155 -62,019 Working capital adjustments: Change in inventory -834 1,142 -187 1,005 -181 Change in receivables and prepayments 9 -589 494 -2,367 2,060 Change in trade and other payables 175 123 593 -2,179 -3,185 Total change in working capital -650 677 900 -3,541 -1,306 Cash -flow from operating activities -12,665 -15,258 -24,332 -33,694 -63,325 Investing activities Investment in fixed assets -361 16 -462 -162 -920 Cash-flow from investing activities -361 16 -462 -162 -920 Financing activities Rights issue after deduction of transaction costs - - - 46,598 86,980 Cash flow from financing activities - - - 46,598 86,980 Cash flow for the period -13,027 -15,242 -24,794 12,742 22,735 Currency translation differences 239 -412 -1,561 380 731 Cash and cash equivalents, beginning of period 45,048 63,925 58,615 35,149 35,149 Cash and cash equivalents, end of period 32,260 48,271 32,260 48,271 58,615 11
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Interim Report January - June 2025 Parent Company - Income Statement kSEK April - June 2025 April - June 2024 January - June 2025 January - June 2024 Year 2024 Other revenues 500 1,000 3,500 2,000 11,231 Sales, general and administrative costs -1,264 -3,435 -3,348 -6,523 -22,901 Operating result -764 -2,435 152 -4,523 -11,670 Profit / Loss from shares in group companies -10,669 -15,475 -27,297 -26,232 -54,302 Financial income - 30 - 47 334 Financial expense - -13 - -31 -68 Profit before tax -11,433 -17,894 -27,145 -30,738 -65,706 Tax - - - - Net loss for the period -11,433 -17,894 -27,145 -30,738 -65,706 Net income attributable to Parent Company´s Shareholder -11,433 -17,894 -27,145 -30,738 -65,706 12
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Interim Report January - June 2025 Parent Company - Balance Sheet kSEK June 30, 2025 June 30, 2024 Year 2024 Assets Fixed assets - 16 - Total fixed assets - 16 - Financial assets Participations in subsidiaries 44,868 44,868 44,868 Total financial assets 44,868 44,868 44,868 Current assets Other receivables 4,346 3,136 549 Cash and cash equivalents 17,577 38,946 49,655 Total current assets 21,923 42,083 50,204 Total assets 66,791 86,967 95,072 Shareholders' equity and liabilities Equity Share capital 11,233 9,732 11,233 Other capital contribution 459,167 420,287 459,167 Retained earnings -406,725 -344,613 -379,580 Total equity 63,675 85,406 90,820 Current liabilities Accounts payable 116 349 196 Intercompany payables 1,789 - 2,681 Other liabilities 1,210 1,212 1,375 Total current liabilities 3,115 1,561 4,252 Total equity and liabilities 66,791 86,967 95,072 13
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Interim Report January - June 2025 Parent Company - Consolidated Statement of Change In Equity kSEK Share capital Share premium Retained earnings & result of the year Total shareholders equity As at 1 January 2025 11,233 459,167 -379,580 90,820 Profit/loss for the period -27,145 -27,145 Total comprehensive income At June 30 2025 11,233 459,167 -406,725 63,675 As at 1 January 2024 7,372 376,048 -313,874 69,546 Profit/loss for the period -30,738 -30,738 Total comprehensive income 7,372 376,048 -344,613 38,807 Transactions with owners: Share issue 2,360 44,957 - 47,317 Costs related to share issue -718 - -718 Total transactions with owners 2,360 44,239 - 46,599 At June 30 2024 9,732 420,287 -344,613 85,406 14
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Interim Report January - June 2025 Notes Note 1 Corporate Information Company Information Acarix AB (559009-0667) is a limited liability company incorporated and domiciled in Malmö, Sweden. The registered office is located at Regus, Hyllie Boulevard 34, 215 32 Malmö, Sweden. Acarix’s main activities are to develop, produce and market a new cardiovascular diagnostic method and similar equipment for the same and related services. The Acarix Group Consists of: Acarix A/S The main operating company Incorporated and located in Denmark Acarix GmbH Supporting sales on the German market (under liquidation) Incorporated and located in Germany, under liquidation Acarix Inc Supporting sales on the US market Incorporated and located in USA Acarix Ltd Supporting sales on the UK market Incorporated and located in UK Acarix Incentive AB Incorporated and located in Sweden Note 2 Basis of Preparation The interim report for the Group and Parent Company comprises summary consolidated financial statements for Acarix AB (publ). The interim consolidated financial statements include the Company’s wholly-owned subsidiaries according to above specification. Note 3 Accounting Policies The consolidated report has been prepared in accordance with International Financial Reporting Standards (IFRS) and IAS 34, Interim Financial Reporting. Acarix continues to apply the same accounting principles and valuation methods as those described in the most recent annual report. The Parent Company report is prepared in accordance with RFR 2, Accounting for Legal Entities, the Swedish Annual Accounts Act and accounting principles and the valuation methods as those described in the most recent annual report. Note 4 Significant Accounting Policies, Judgments and Assumptions In preparing the interim report, certain provisions under IFRS require management to make judgments, which may significantly impact the group’s financial statements. For additional descriptions of significant judgments and estimates, refer to note 4 in the annual report 2024. Note 5 Risk Management The Acarix Group is exposed to business and financial risks through its operations. These risks have been described at length in the company’s annual report 2024. In addition to the risks described in these documents, no additional significant risks have been identified. 15
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Interim Report January - June 2025 Note 6 Related Parties Related parties comprise the members of the Board of Directors and other senior executives. Apart from remuneration of the Board of Directors, no transactions with related parties were carried out during the period. Note 7 Revenue Recognition Revenue is recognized to the extent that it is probable that the economic benefits will flow to the group and the revenue can be reliably measured, regardless of when the payment is received. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duty. The specific recognition criteria described below must also be met before revenue is recognized. Sale of goods Revenue from the sale of goods is recognized when the significant control of ownership of the goods has passed to the buyer, usually on delivery of the goods. Revenue from the sale of goods is measured at the fair value of the consideration received or receivable, net of returns and allowances, trade discounts and volume rebates. Revenues from agreements with customers Sales SEK 2025 Q1 2025 Q2 2025 Q1-Q2 Germany 366 530 896 USA 1,235 595 1,830 Sweden 128 15 143 Total 1,729 1,140 2,870 Revenues from leases with customers Sales SEK 2024 Q1 2024 Q2 2024 Q1-Q2 Germany 580 789 1369 USA 972 1,032 2004 Sweden - 87 87 Austria - 19 19 Other - 30 30 Total 1,552 1,957 3,509 16
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Interim Report January - June 2025 Affirmations This interim report has been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting” and in accordance with the Swedish Annual Accounts Act. With respect to the Parent Company, this interim report has been prepared in accordance with the Swedish Annual Accounts Act and in compliance with RFR2, Accounting for Legal Entities. The Board of Directors and the CEO certify that this interim report presents a true and fair overview of the Group’s and the Parent Company’s operations, financial position and results of operations, and describes the significant risks and uncertainties facing the Parent Company and the companies belonging to the group. August 21, 2025 Executive Management Aamir Mahmood President & CEO Board of Directors Jan Poulsen Chairman of the Board Tony Das Board Member Kenneth Nelson Board Member Marlou Janssen Board Member 17
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Interim Report January - June 2025 Leadership Aamir Mahmood President & CEO Christian Lindholm Chief Financial Officer Carma Connely Head of Operations & Customer Excellence Jeff Thomas Head of US Sales Beji George Head of Global Strategy & Therapy Development Dwyndl Nelms Head of QA, RA & Production Jeffrey Rudd Head of US Finance Daniel Burke Head of Reimbursement & Market Access Macie May Head of Marketing & Public Relations Hyllie Boulevard 34, 5TR SE- 215 32 Malmö info@acarix.com www.acarix.com 18