News
Brand Change Announcement: AegirBio AB has officially changed its name to Magnasense AB. The new website, www.magnasense.com, launched on 9 July 2024, with redirects from www.aegirbio.com.
Magnasense Interim Report January - June 2025
“Magnasense is pursuing a reverse takeover with an AI-driven company, which would mark an important step for the Company.” Marco Witteveen, CEO of Magnasense AB
Consolidated figures January – June 2025*
• Loss before tax amounted to MSEK -25.5M (13.3)
• Cash and cash equivalents at 30 June 2025 MSEK 0.1M (31 December 2024: 0.3M)
• Loss per share** SEK -0.45 (-0.42)
Significant events during the period
• The Company terminated its agreement with Digital Health Solutions LLC, as part of which 9.5M previously issued warrants for shares were waived.
• Subsidiary Magnasense Technologies Oy reached a settlement with Salofa Oy regarding a contractual dispute.
• The Company entered into an addendum with Atlas Special Opportunities LLC to vary the existing convertible debt facility and loan facility arrangements, in anticipation of a rights issue.
• Directed issue of 546,230,155 shares to Atlas Special Opportunities following loan note conversions totaling MSEK 6.5. This includes 107,142,857 shares issued as part of the rights issue guarantee commitment for MSEK1.5. 223,484,847 shares to Atlas following issue of transaction fee shares, equivalent to MSEK2.5.
• Subsidiary Aegirbio UK and an undisclosed partner signed a letter of intent to develop an innovative digital diagnostic product.
• The Company carried out a rights issue which concluded on 12 May 2025, raising MSEK15 in subscriptions and guaranteed commitments.
• The Company received notification of a decision on a penalty fee from the Swedish Financial Regulatory Authority for MSEK 12.
• On 10 June 2025 Magnasense entered into a Letter Of Intent with SubGen AI Limited regarding a potential reverse takeover. After the reverse takeover, the shareholders of SubGen will hold 98 percent of the issued and outstanding shares in Magnasense (excluding warrants and convertible bonds. As part of the Transaction, Aegirbio UK Ltd, along with any other subsidiaries currently held by the Magnasense group, is intended to be spun off from Magnasense AB.
Significant events after the period
- The Company signed a conditional agreement for the reverse takeover of SubGen AI Limited
* Compared to the same period in 2024
** Loss per share: Loss for the Quarter divided by the weighted average number of shares for the Quarter, which for the 6 months to 2025-06-30 amounted to 432,241,095 shares before dilution. The corresponding number for the same period in the previous year was 31,758,392 shares
*** Equity ratio: Equity divided by total assets.
