AroCell

Redsense Medical

Alzinova

Spago Nanomedical

Scibase Holding

Episurf Medical

Nanologica

Ascelia Pharma

- Ascelia is a pre-revenue company
- Ascelia is very dependent on its lead asset
- Ascelia has not signed a commercial partner for the launch

- Ascelia's lead asset, Orviglance is well supported by clinical studies, including the support from a phase 3 study
- The feedback from future potential customers is positive both in terms of the clinical rationale to use Orviglance and benefits that could support a premium price 
- The future direct competition is likely to remain modest for many years

- Ascelia does not have a financial run-way towards a product launch
- Ascelia ideally need to secure a commercial partner within 12 months
- Ascelia is dependent on one lead asset

- Ascelia has a cash run-way to late 2025, possibly longer, depending on the support from outstanding warrants
- Ascelia operates with a minimum cost base
- Ascelia is funded until FDA admission

- Ascelia has no controlling owner at 20% or more
- Insiders owners below 10%
- Ascelia has not reached a stage where it publishes any sustainability report

- Ascelia has a clear strategy with all resources directed to Orviglance
- Ascelia has executed savings and a changed go-to-market strategy as a result of delays and harsh equity market conditions  
- Ascelia managed to rearrange the re-reading process in the late stage of the phase 3 study successfully