The report is attached to this press release and can also be downloaded from the company’s website
January - June 2026
- Net sales amounted to 6,090 KSEK (6,313)
- Profit/loss after financial items amounted to -4,195 KSEK (-4,265)
- Earnings per share amounted to -0,16 SEK (-0,18)
- Cash flow from operating activities amounted to -2,923 KSEK (-1,743)
- All orders were delivered by the end of the period
April – June 2026
- Net sales amounted to 3,292 KSEK (3,841)
- Profit/loss after financial items amounted to -2,622 KSEK (-943)
- Earnings per share amounted to -0,10 SEK (-0,04)
- Cash flow from operating activities amounted to-1,780 KSEK (-504)
Events during the reporting period
- ChemoTech announces outcome of the directed share issue
- Scandinavian ChemoTech secures SEK 6 million growth loan from a large Swedish financial institution
Events after the reporting period
- ChemoTech’s TSE Reports 97% complete remission and stronger than expected clinical results in Equine
- Scandinavian ChemoTech AB changes name to Neem’s Hill AB
Word from the CEO
The second quarter of 2026 was another strong quarter for Neem’s Hill, with sales ending just shy of the record-breaking second quarter last year.
The composition of our revenue continued to develop positively. Treatment kit sales increased by 52% in the first half of 2026. This reflects increasing clinical activity among our customers and strengthens the recurring revenue base created by our growing installed base, which reached almost 60 vetIQure systems at the end of the quarter.
Growing clinical evidence and academic recognition
One of the most important developments during the period was the publication of the abstract from the retrospective equine study conducted at the Norwegian University of Life Sciences.
The study included 26 horses with 66 equine sarcoid lesions treated with vetIQure TSE and reported a 97% complete remission rate at the eight-month follow-up. Of clinical and practical importance, 23 of the 26 horses were treated under standing sedation rather than general anesthesia. This may reduce treatment complexity and risk while making the procedure more accessible to veterinary clinics and horse owners.
The abstract was presented at the European College of Veterinary Surgeons’ scientific meeting in Liverpool. Scientific publications and presentations are important for building confidence among clinicians, universities and larger veterinary organizations and for supporting broader adoption of vetIQure.
During the quarter, we also received an order from the University of Copenhagen, making it the third veterinary university in Scandinavia to acquire a vetIQure system.
The University of Copenhagen has extensive experience with first-generation static electroporation technologies and is a recognized center in the field, including within Human Care. We therefore view the university's decision to adopt vetIQure as an important reference for the market, and as a recognition of the next generation of electroporation technology that we call Tumor Specific Electroporation, or TSE.
With academic users and clinical collaborations now established across Sweden, Norway, Denmark, the United Kingdom and Turkey, vetIQure is supported by a growing international network of veterinary academic- and clinical institutions. Feedback received at recent scientific conferences also indicates increasing interest among clinics and specialists in potentially upgrading from traditional static electroporation systems to TSE.
Continued commercial development
Animal Care remains the Group’s principal commercial growth driver. Our strategy continues to focus on two priorities: increasing the number of active vetIQure users and increasing treatment activity within the existing customer base. In the USA, significant progress was made in raising product awareness, generating interest, and encouraging product trials among key accounts. The strong development in treatment kit sales during the first half of the year demonstrates the value of this strategy. As more clinics gain experience with TSE and integrate the technology into their oncology offering, treatment kits are becoming an increasingly important source of recurring revenue.
During the quarter, we strengthened our commercial and application support organization by adding the equivalent of two and a half full-time resources within sales, marketing, clinical applications and customer support.
Among these additions is a dedicated application specialist with hands-on experience from over hundred TSE treatments and previous experience with the older first-generation static electroporation systems. This combination of practical treatment experience and technology knowledge strengthens our ability to support clinics, accelerate adoption, increase utilization and help customers achieve consistent clinical outcomes.
These additional resources also increase our capacity to develop new opportunities, support customers during implementation and training, and help existing clinics expand their use of vetIQure. Their contribution is expected to become increasingly visible as they build market knowledge and customer relationships.
Progress within Human Care
Human Care remains an important part of the Group's long-term value potential, with India serving as our principal market for continued development.
After the end of the quarter, the nineteenth patient was treated in our ongoing clinical study in India. Each treated patient contributes additional clinical experience and knowledge regarding the use of TSE in advanced and difficult-to-treat tumors.
We continue to evaluate additional clinical collaborations in India that may broaden the clinical application of the technology and support the development of a scalable pathway for TSE within human oncology.
Continued platform development
Our R&D activities continue to advance across software solutions, new electrode designs including work to extend the validated shelflife of our treatment kits, giving clinics greater flexibility in inventory planning and reducing the risk of kits reaching their expiration date before use. We believe these improvements will be highly valued by our customers and support more efficient purchasing and clinical operations.
A new chapter as Neem’s Hill
During the quarter, the Annual General Meeting approved the change of name from Scandinavian ChemoTech AB to Neem’s Hill AB. This marks the beginning of a new chapter for the Group and more clearly reflects the structure and direction of our operations.
Neem’s Hill is the listed parent and holding company for two distinct business areas: Animal Care and Human Care. Both are based on our patented TSE technology, while each follows its own clinical and commercial pathway.
The new structure provides greater strategic and financial flexibility. It enables the different business areas to be developed and funded independently as opportunities arise, while allowing the Group to add complementary technologies or operations through partnerships or acquisitions. Individual business areas may also be financed, partnered, expanded or, when appropriate, divested independently. This gives Neem’s Hill a broader range of options for creating and realizing shareholder value over time.
The Annual General Meeting also approved a directed share issue to a limited number of existing lenders. By converting part of the Group’s outstanding loan obligations into equity, the transaction strengthened the capital structure and reduced financial indebtedness.
Looking ahead
The first half of 2026 combined continued sales in vetIQure systems, with a significant increase in recurring treatment kit revenue, which more importantly means that the average treatment activity across the installed base continues to increase month by month.
This means that more patients are being treated, more successful clinical outcomes are being achieved, and more veterinarians are gaining first-hand experience of the clinical value of TSE. Each successful treatment strengthens confidence in the technology and demonstrates both its clinical benefit for patients and its commercial value for veterinary clinics.
As awareness of TSE continues to grow, we believe this expanding body of practical experience can support broader adoption, with more clinics recognizing the value of moving from traditional static electroporation systems to the next generation of electroporation technology.
Our focus for the remainder of the year is to expand the number of active vetIQure users, increase utilization within the installed base and support broader adoption through clinical evidence, academic partnerships and high-quality customer support.
With a clearer Group structure, growing recurring revenue and increasing recognition of TSE, we continue to strengthen the foundation for sustainable growth and long-term shareholder value.
I would like to thank our employees, consultants, clinical partners, customers and shareholders for their continued commitment and support.
Mohan Frick – CEO Neem's Hill AB (publ)
This disclosure contains information that Neem's Hill AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 11-08-2026 08:30 CET.
For further information please contact:
Mohan Frick, CEO
Phone: +46 (0)10-218 93 00
E-mail: ir@chemotech.se
Certified Adviser: Redeye Nordic Growth AB
Neem's Hill AB (publ)
Neem's Hill is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology. Neem's Hill's shares (NEEMS B) are listed on Nasdaq First North Growth Market in Stockholm and Redeye Nordic Growth AB is the company's Certified Adviser. Read more at: www.chemotech.se.