LSIF invests in SciBase

SciBase issued 2 announcements yesterday. First, an announcement regarding the collaboration with Castle Biosciences, Inc., a leading US-based molecular diagnostics company, and at the same time also announcing, that Castle Biosciences, Inc. will invest 19 MSEK in SciBase and become the second largest shareholder.
At LSIF, we see significant potential in this collaboration, where SciBase can put knowhow to work in fields, where SciBase does not have the capacity to develop itself, and having Castle Biosciences, Inc. as a very large owner also potentially could open other interesting perspectives in our view.

In the second press release, SciBase announced a directed share issue targeted at a very limited number of long term investors. Besides Castle Biosciences, Inc., two existing shareholders - Ribbskottet being Scibase's largest shareholder and Haga Gruppen Holding participates. And then Life Science Invest Fund (LSIF) as new shareholder.
In our due diligence process, we visited the SciBase US team at a dermatology congress in Miami, where we also had the opportunity to meet with esteemed KOL's., and we consider this investment to have very significant potential at a very low valuation. LSIF will be among the Top-10 shareholders, and we look forward to continue supporting SciBase on its journey to profitability.