SciBase sells Nevisense for skin barrier research use in the US

The announced milestone sale is to the National Institutes of Health (NIH), a medical research center within the U.S. Department of Health and Human Services. According to the release, the Nevisense device will be used to conduct research on the microbiome and its interactions in atopic dermatitis (AD), exploring how the microbiome may unearth new treatments for AD.  

We expect the sale to be for a relatively small number of devices and therefore it won't have a material impact on the company's financials in the short term. However, the research use is critical on the path to expanding Nevisense's use cases from skin cancer diagnostics to skin barrier diagnostics. If successful, skin barrier diagnostics could become the most important business for SciBase in the long term. We expect this business to remain in the research phase for at least a few years before it can generate significant revenue growth for SciBase. In the meantime, success in the skin cancer diagnostics business, particularly in achieving increased insurance coverage and significant revenue growth in the U.S., will be critical to the company's pursuit of cash flow neutrality.