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XVIVO announces a write-down related to PrimECC of SEK 17 million not affecting cashflow or EBITDA

As communicated on July 12, 2023, XVIVO has decided to close its´ PrimECC study for further patient inclusions and to evaluate potential strategic opportunities. The decision has been made to write-down the PrimECC asset.

PrimECC is a solution used to prime the heart-lung machine before heart-surgery. It is a CE-marked and patent-protected product and is developed to reduce postoperative complications. In 2020 a study was initiated to expand and strengthen the clinical data for PrimECC. As communicated, the pace of patient recruitment to this study has not met expectations and as recruitment was not projected to be finalized within a reasonable period of time the study was closed.

XVIVO’s assessment of opportunities for the product has resulted in a decision to write down the asset in accordance with IFRS accounting standards. The write-down in the fourth quarter amounts to SEK 17 million not affecting cashflow or EBITDA.

“With the decision to write-down PrimECC, we will instead increase our focus on our core business within organ transplantation. There, significant opportunities deserve our full attention to fulfill our vision that 'nobody should die waiting for a new organ’”, says Christoffer Rosenblad, XVIVO CEO.
December 14, 2023
Christoffer Rosenblad, CEO
XVIVO Perfusion AB (publ)

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