GlobeNewswire Inc | Dec 31, 2021 07:30AM EST

December 31, 2021

-- Completing CHF 4.85 Million Placement from August 2021 -- Board Director Christophe Laurent to Retire -- Appoints Adam OKeeffe as Ad Interim Chief Financial Officer

ZURICH, Switzerland, Dec. 31, 2021 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LR Achiko AG (OTCQB: ACHKF; SIX: ACHI; ISIN CH0522213468) (Achiko, the Company) is moving to complete a CHF 4.85 million funding transaction with strategic investors that began in August 2021, and includes the retirement of the outstanding portion of its obligations to Yorkville Capital Management LLC, and the capital increase announced earlier this month.

The financing will be used to restructure operating costs and support the Companys commercialization of its unique healthtech ecosysteman affordable, non-invasive Covid-19 rapid testAptameX, integrated with Teman Sehat (Health Buddy), a digital passport solution that provides assurance services in Indonesia as well as manufacturing and sales efforts globally upon completion of CE mark registration in Q1 2022. Production of its second-generation rapid test kit has commenced and the Company is now responding to inquiries and developing a sales pipeline in Indonesia as well as other parts of Asia and EMEA.

We are immensely grateful for the support and trust that weve received from all our investors and shareholders, said Achiko CEO Steven Goh. Its evident that Covid-19 will be around long term and diagnostic testing needs to be integrated into a layered Covid -19 response along with vaccination and antiviral treatments to limit the human and economic impacts. We look forward to further advancements in 2022 as our unique platform has an integral role in how we go about our daily lives and return to a semblance of our old normal.

Finally, the Company will move to update its Board in early 2022, with the retirement of Christophe Laurent, and the appointment of Adam OKeeffe as CFO ad interim, following our former CFO Robert Rieders decision to pursue opportunities in the private sector. Mr. OKeeffe is a senior finance specialist with over 20 years experience working within the business services and taxation industry. He has worked with leading technology and innovation businesses who specialize in areas of health sciences, technology, artificial intelligence, biotech and manufacturing.

ABOUT ACHIKO AGAchiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that puts people first. The companys lead product is a rapid, reliable Covid-19 test with a companion app offering a user-friendly digital health passport. The test and companion app were launched in Indonesia in mid-2021 and an application for CE Mark approval in Europe will be submitted in 2022.

Achiko creates and develops aptamer-based diagnostics through its biotechnology division, AptameXTM and companion health apps via its digital mobile health technology division, Teman SehatTM. The AptameX DNA aptamer tests can be rapidly chemically synthesized, are cost-effective and have wide potential across multiple disease diagnostics. Leveraging AptameX and Teman Sehat, Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications in the rapidly evolving healthcare diagnostics field.

Headquartered in Zurich, Achiko has offices in Hong Kong, Jakarta, Seoul and Singapore.

Media contacts:

ACHIKO AGInvestor RelationsE: ir@achiko.com

Switzerland & GlobalMarcus BaloghFarner Consulting Ltd.E: achiko@farner.chT: +41 44 266 67 67

U.S. & GlobalJeanene TimberlakeRooneyPartnersE:jtimberlake@rooneypartners.comT: +1 646 770 8858

DisclaimerThis communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.