Biovica International

- A potential US commercial partner may still want to see more real-life clinical use experience and perhaps support from guidelines. 
- Divitum has IP protection to 2031/32, and Biovica needs to consider ways to extend the patent. 
- DiviTUm has many important advantages but they are not yet proven commercially. One challenge is the general interest in ctDNa despite a much higher price

- Divitum has several crucial, unique selling points
- DiviTum is supported by extensive studies and regulatory approval
- DiviTum has recently expanded its target market into the Adjuvant Breast Cancer market, which is likely to attract more interest from potential partners and pharma.

- Two years after US FDA approval Biovica is still far from reaching the break-even sales
- Biovica has not yet signed a commercial partner for the US clinical market
- Biovica is still exposed to an equity dilution risk as the company need to secure additional growth capital.

- DiviTum has high gross margins 
- DiviTum is in a good position to attract commercial partners both in the pharma segment and the clinical testing segment
- DiviTum has several competitive advantages in a large global market

- Limited access to growth capital has impacted the commercial plan and the ability to increase sales
- Biovica has recently reduced the US commercial clinical sales force because of limited access to growth capital
- Biovica's commercial execution capability is not yet fully proven despite considerable US progress and pharma collaboration progress

- Biovica has a CEO with a long track record, and Mr Rylander is the main shareholder
- Biovica has a well-established strategy and target market, even if limited access to growth capital has impacted the commercial plan
- Biovica is transparent and consistent in its execution