BERLIN/LONDON February 10, 2021 - Aladdin Healthcare Technologies SE (“Aladdin”, ISIN: DE000A12ULL2), a leading developer of Artificial Intelligence (AI) based healthcare diagnostics and drug discovery applications, announces an update to the timeline for its OTC US-listing.
Aladdin had already entered into an agreement with MCAP LLC in September 2020 to enable electronic market-making of its shares on the OTCQX platform and to receive related brokerage services within the US listing. The US listing was scheduled to take place at the end of October 2020.
Due to regulations in the USA this has now been postponed. Aladdin will therefore employ a step approach with regard to its listing on the US capital markets. This is due to the announced impairments and subsequent low asset valuation which does not meet the criteria of OTCQX at present time. The Company will instead commence with a listing on the OTC Pink Sheets as the first step. The Company has filed a 211 form with the expectation that its shares will be quoted within the coming weeks.
The Pink Market appeals to both small and large cap companies from around the world that in turn attract high volumes of shares traded. Consequently, the Management remains positive about the prospects for this entry to the US capital markets which include the appointment of an established market maker with extensive US distribution and who intend to implement a successful promotion campaign, once approval is granted.
The company intends to move up to OTC QX or OTC QB once the requirements are met. Management believes this timeline suits the current position of the company and works in line with the growth prospects for Aladdin.
About Aladdin Healthcare Technologies SE
Aladdin Healthcare Technologies SE (and its wholly owned subsidiary Aladdin Healthcare Technologies Ltd.) is a leading developer of AI healthcare diagnostics and drug discovery applications that can accelerate both early stage disease diagnosis and the end-to-end drug discovery process. Aladdin targets aged related disease including a significant focus on Alzheimer’s disease. Aladdin accomplishes this by collaborating with numerous partners within the global healthcare ecosystem to confidentially and securely gather targeted data including, genome, tabular, MRI, PET, cognition and other lifestyle data. These datasets are then analysed by our award-winning AI team and used to develop proprietary AI tools that can assist healthcare professionals to more accurately and efficiently diagnose aged related diseases. This new diagnostic process will save significant time and costs for healthcare professionals. Additionally, our AI drug discovery platform will be used to by pharmaceutical Companies to speed up drug development, clinical trials and predict outcomes more accurately.
Website Link: www.aladdinid.com
TICKER SYMBOL: NMI
For further information
Aladdin Healthcare Technologies Ltd.
24-26 Baltic Street West
London EC1Y 0UR
Phone +44 7714 719696
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Phone +49 89 1250 90330