Bioservo Technologies AB (publ) (OM:BIOS) announced that its Board of Directors is evaluating potential strategic alternatives to accelerate commercialization and enhance shareholder value. The Board has established a Special Committee composed of Management team members and members of the Board to evaluate a broad range of potential options, including the sale of part or all of the company, recapitalization, or other partnership opportunities, among other potential alternatives. To assist with this process, Bioservo has engaged Ferghana Partners, an experienced financial advisor operating in the life science sector.

The market potential for Carbonhand, Bioservo's cutting-edge grip-strengthening device, is substantial, and Bioservo is looking to partner with well-qualified companies possessing the necessary resources, both operational and financial, alongside its own more limited resources, to fully exploit this market opportunity. "Bioservo's Board and management team are committed to maximizing value and determined that an evaluation of strategic alternatives is the best way to advance that goal," says Anders Lundmark, Chair of the Board. "The market potential for Bioservo is extraordinary, Independent Market Research confirms nearly $500 million in peak sales in lead indications for Carbonhand in the US alone.

The Board believes that this process will help ensure the best path forward to unlock value for all Bioservo's stakeholders." There can be no assurance that the review process will result in any transaction or any other strategic change or outcome, or as to the timing of any of the foregoing. The company does not expect to comment further on this strategic review unless and until the Board has approved a specific course of action or until it determines that further disclosure is appropriate or required by law.