Magnasense AB ("Magnasense" or the "Company") announces a further extension of the Letter of Intent regarding a potential reverse takeover (the "Transaction") with Subgen AI Limited ("Subgen"), a UK-based company. The Transaction was initially announced by the Company through a press release on 10 June 2025.
The term and exclusivity of the Letter of Intent have now been extended until 22 July 2025, providing additional time to finalize discussions and preparations. The contemplated transaction remains conditional upon, inter alia, the signing of a share purchase agreement no later than 22 July 2025. All other terms and conditions of the Letter of Intent as previously communicated by the Company remain unchanged.
For further information, please contact:
Marco Witteveen, CEO, Magnasense AB
Email: ir@magnasense.com
The Company's Certified Adviser is:
Eminova Fondkommission AB | adviser@eminova.se
About Magnasense
Magnasense is a Swedish diagnostics company founded in 2019 to offer tests to monitor and optimize the dosage of biological drugs via its unique patented technology platform. In June 2020, Magnasense was listed on the Nasdaq First North Growth Market. The company's ambition is, in addition to bringing innovative diagnostic technology to the market, to make diagnostics more accessible, easier to use, and to provide accurate and easily transferable results. For more information, see Magnasense's website www.magnasense.com.
This information is information that Magnasense is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-14 22:36 CEST.
