The receivables already rose to EUR 6.9 million in the H1 report and decreased slightly towards the end of the year. I inquired about the receivables that summer, at which point Jussi mentioned that part of the increase in receivables was due to strong sales in June and part was China royalties. The latter is associated with pledged shares to balance the risks.
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The Chief Technology Officer sold some of his holdings.
He still held 13,177 shares in February.
Person subject to notification obligation
Name: Panu Hendolin
Position: Other senior management
Issuer: Biohit Oyj
LEI: 74370089ATTSNBXJVT29
Nature of the notification: INITIAL NOTIFICATION
Reference number: 100212/5/6
____________________________________________
Date of transaction: 2025-03-10
Trading venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009005482
Nature of transaction: DISPOSAL
Detailed information on the transactions
(1): Volume: 500 Unit price: 2.95 EUR
(2): Volume: 500 Unit price: 2.93 EUR
Aggregated information on the transactions (2):
Volume: 1000 Average price: 2.94 EUR
____________________________________________
Date of transaction: 2025-03-12
Trading venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI0009005482
Nature of transaction: DISPOSAL
Detailed information on the transactions
(1): Volume: 500 Unit price: 2.91 EUR
Aggregated information on the transactions (1):
Volume: 500 Average price: 2.91 EUR
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That is absolutely ridiculous in my opinion, if someone in that position can be so tight on money..whatever the reason! At least it wasn’t the CFO selling before earnings..:)
I even know unemployed people who have more Hitino shares than him/her..I am appalled! But there’s all sorts of people here..
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Apparently, the reason for Hendolin’s sales was that he wanted to increase his share ownership by subscribing for more shares with those sales proceeds.
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Something is stirring beneath the surface in Korea again.
[Yakup News] Atrophic Gastritis: The Era of Screening Without Tissue Biopsy Opens
At the spring academic conference held by the Korean Society of Health Screening at Lotte Hotel, Sogong-dong on the 23rd, the serum biomarker-based test ‘GastroPanel’ received academic attention as a diagnostic method for early screening of high-risk groups for gastric cancer. 대한상…
Until now, histological confirmation with endoscopy and biopsy has been necessary, but GastroPanel is emerging as an alternative that can non-invasively assess the condition of the gastric mucosa without biopsy.
The government classifies gastric cancer as a “preventable cancer” and is considering introducing a screening test into the national cancer screening program to expand access to early treatment for Helicobacter pylori (H. pylori).
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Should we in Finland already start discussing cancer screenings at the GP level, because while the concepts of detecting various markers and finding potential precursors are certainly more precise in their identification, they do not find their way into medical diagnostics in everyday practice. However, there has been reinforcing research data from elsewhere, as well as information about more far-reaching applications and bolder language regarding the method.
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I haven’t found Jussi Hahtela’s Q1/25 blog post in the thread yet, so here it is. Updates from the lobbying trip at the beginning of the year and a recap of Biohit’s value creation logic.
CEO’s blog Q1/2025
Lobbying and breaking down silos
The CEO’s January largely revolves around the financial statements. This year, the choreography was slightly different, as an influence communication trip to Brussels was added to the steps.Influence communication, or more familiarly, lobbying, stems from the English word ‘lobby’. However, the Biohit delegation did not have to loiter in any lobbies or corridors. We met with Members of the European Parliament and other relevant EU decision-makers, and our message was clear. Biohit can help member states in planning and implementing gastric cancer risk screening.
Why should gastric cancer risk be screened, and why now?
Gastric cancer is the sixth most common cancer in the EU. 136,000 new cases are diagnosed annually, and 52,000 people die from gastric cancer in the region each year.
Gastric cancer is insidious because it can be asymptomatic for a long time. Diagnosis is often made too late. The five-year prognosis for breast and prostate cancers is around 90 percent. For gastric cancer, it is less than 30 percent, meaning less than a third of those diagnosed are alive after five years.
The Council of Europe has been alert. It added gastric cancer to the list of cancers to be screened in 2022. Unfortunately, movements regarding implementation have been very slow. Member states have not delivered what the Council ordered.
This is where Biohit comes in. We can help member states respond to the Council’s call, as Biohit’s GastroPanel is particularly well-suited for gastric cancer risk screening.
Ongoing pan-European research projects largely focus on Helicobacter pylori tests. Approximately 43 percent of the world’s population carries this class one carcinogen, which significantly increases the risk of gastric cancer. However, a Helicobacter pylori test only measures Helicobacter pylori. In addition to Helicobacter pylori, GastroPanel also identifies atrophic gastritis, i.e., atrophy of the gastric mucosa, which is the largest single risk factor for gastric cancer.
Atrophic gastritis is associated with malabsorption of vitamins and trace elements, which in turn are linked to osteoporosis, memory problems, and many other diseases that reduce an individual’s quality of life and increase societal costs.
So, the message in a nutshell: if you measure, measure the right things.
Health is always also about economics. Society’s gears won’t turn without a healthy and capable workforce.
The summary of the GastroPanel study by Homerton University Hospital in London, published in January, emphasized not only the test’s accuracy but also its significant economic and environmental impacts. Widespread use of GastroPanel can avoid unnecessary gastroscopies, and resources can be directed to patients with a high risk of gastric cancer.
The Council of Europe has also emphasized that when implementing cancer screenings, healthcare resources must be considered in terms of both funding and sufficient personnel.
Biohit’s strategic crystallization “Global solutions to global healthcare problems” is not just slick jargon. The claim is demonstrably substantiated, and so far, every decision-maker sitting on a treasure chest has bought into the idea of GastroPanel’s benefits. Unfortunately, when changing healthcare practices, the time from idea to implementation is measured in years. But there’s no point in complaining; all the more reason for health technology companies to tirelessly convey their message. The playing field must be known, and steps planned accordingly.
Politicians are part of that field. Politicians should not interfere with healthcare recommendations, but they have a duty to ensure that healthcare funded by tax revenues operates cost-effectively. Therefore, they must be kept informed of the benefits offered by health technology innovations.
Of course, Biohit’s first quarter was not just lobbying, even though it is emphasized in this blog. Traditional sales were also heavily invested in. Sales scalability was enhanced by eliminating overlaps and reallocating responsibilities.
Momentum for the leap was also sought by improving the flow of internal information. There is no room for silos, because in a market economy, every company ultimately has only two functions: sales and sales support.
Jussi Hahtela
CEO
Biohit Oyj
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Biohit’s latest innovation, the GastroPanel® rapid test, represents the most advanced technology in non-invasive serological diagnostics and screening for patients at high risk of gastric cancer. The GastroPanel® rapid test is intended for real-time diagnostics performed during a single patient visit and provides the same information as the GastroPanel® ELISA test performed in a central laboratory. The clinical validation study of the GastroPanel® rapid test has recently been completed at Fortis Hospital in India, which is one of the countries with a high risk of gastric cancer. A total of 266 volunteers participated in the study.
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At this point, it’s worth remembering that less than a year ago, this very thread was titled “Does this have a future?”
A lot can certainly happen in a year and a company can move forward 
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Let’s hope that the “significant market opening” expected and promised for this year is India.
These results would be a good starting point for operating in a market of 1.5 billion inhabitants.
I sold BRETEC because a very new CEO tucked his tail between his legs and fled like a coward.
I bought more BIOBV in its place because the turnaround might slowly start to dollarize.
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Very good news from Korea, the news is spreading like wildfire across Korean media. No wonder Biohit gained ground on Friday.
https://www.biotimes.co.kr/news/articleView.html?idxno=21629
Seoul National University Hospital Research Team Proposes Possibility of Screening for Early Gastric Cancer with a Blood Test
The use of the Pepsinogen I/II ratio in blood confirmed its usefulness in assessing the severity of atrophic gastritis.
Improved diagnostic accuracy in reflecting Helicobacter pylori eradication status.
GastroPanel, a biomarker blood test, is attracting attention as an early screening tool for gastric cancer risk groups.
Poster session of the Korean Association of Diagnostic Immunology (Image = Dow Biomedica)
[Biotimes] The research team at Seoul National University Hospital has demonstrated that the severity of gastritis can be assessed with a simple blood test, opening a new chapter in non-invasive early diagnosis for gastric cancer risk groups.
The research team at Seoul National University Hospital (Professors So-I Jeong, Jeong Kim, Ji-Hyeon Song, Joo-Young Lee, Seon-Young Yang, and Eun-Young Song) recently presented at the poster session of the Korean Association of Diagnostic Immunology’s Spring 2025 Academic Conference the results of a study conducted last year, which assessed the severity of atrophic gastritis (AG) using a serum pepsinogen test.
In this study, the concentrations of pepsinogen I, pepsinogen II, gastrin 17, and Helicobacter pylori infection were analyzed by performing a blood-based gastric biomarker test, ‘Gastropanel’, on 500 subjects who underwent endoscopy at the Seoul National University Hospital Health Screening Center between January 2022 and March 2023.
Specifically, the severity of atrophic gastritis was classified into six stages using the Kimura-Takemoto classification system based on upper endoscopic findings, and the correlation with the blood pepsinogen I and II ratio was analyzed. As a result, the pepsinogen I and II ratio showed a tendency to decrease significantly as the severity of gastritis worsened, and diagnostic accuracy was found to improve when Helicobacter pylori eradication status was also considered.
The research team explained that when the pepsinogen I and II ratio is 8.4 or lower, the likelihood of atrophic gastritis is high, and especially when severe gastritis was suspected, the specificity (92.2%) was high when the ratio was 4.2 or lower.
Furthermore, in the analysis of patients who had not previously undergone Helicobacter pylori eradication therapy, a pepsinogen I:II ratio of 5.7 or lower most effectively predicted severe gastritis.
These results demonstrate Gastropanel’s potential as a non-invasive diagnostic tool for assessing the severity of atrophic gastritis and for early screening of gastric cancer in risk groups, and are expected to serve as a basis for future precision medicine-based gastric cancer prevention strategies.
The Seoul National University Hospital research team recommended that “blood-based pepsinogen I/II ratio measurement can be a useful tool for non-invasive screening of gastric cancer risk groups. Selected gastric cancer risk groups should undergo regular gastroscopy.”
An official from Dow Biomedica said: “This study demonstrates that Gastropanel can serve as an accurate diagnostic tool that goes beyond simple gastritis diagnosis and can promote personalized treatment and prognosis management according to individual gastritis progression,” and added: “Its clinical value is further emphasized as a non-invasive diagnostic tool for promoting public health.”
The Seoul National University Hospital research team plans to further confirm the clinical effectiveness of the Gastropanel-based gastric cancer prevention strategy through multi-institutional collaboration in the future
More links, including :
서울대병원, 혈액검사 기반 위염 중증도 평가 연구 결과 발표… 비침습 위암 조기진단 가능성 제시 < 의료·병원 < 보건·정책 < 기사본문 - 팜뉴스
https://www.yakup.com/news/?mode=view&cat=12&cat2=124&cat3=0&nid=310735
서울대병원, ‘피검사로 위암 위험 예측’ 가능성 제시 - 하이뉴스
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Gastropanelin sanoma leviää kuin tauti koreassa. Eri tutkimus kuin aiemmin tällä viikolla otsikoihin noussut. Tällä kertaa ollaan liikkeellä näiltä tiimoin:
Blood Test Offers Hope in Closing Gastric Cancer Screening Gaps for the Young and Elderly
Blood Test Offers Hope in Closing Gastric Cancer Screening Gaps for the Young and Elderly
A research team led by Professors Na-Young Kim and Yong-Hoon Choi from the Department of Gastroenterology at Seoul National University Bundang Hospital has dem
Blood tests have opened the way for screening high-risk groups for gastric adenoma and early gastric cancer, which are the pre-gastric cancer stage.
Blood tests have opened the way for screening high-risk groups for gastric adenoma and early gastric.. - MK
Blood tests have opened the way for screening high-risk groups for gastric adenoma and early gastric cancer, which are the pre-gastric cancer stage.According to Bundang Seoul National University Hospi..
Early screening of pre-gastric cancer stage through blood tests…Effective for young and elderly people in endoscopic blind spots
Early screening of pre-gastric cancer stage through blood tests…Effe
A research team led by professors Kim Na-young and Choi Yong-hoon of the Department of Gastroenterology at Seoul National University Bundang Hospital reveal
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Probably not many are interested, but I’m reporting from the field anyway:
While stocking up on summer holiday medicine, in both pharmacies at Tripla, there was an empty spot on the shelf where Acetium should be.
In the latter one, we wondered about it together, and lo and behold;
Acetium is completely out of stock at the wholesaler. Finito. Nada.
Certainly not this kiosk’s biggest promise or sharpest selling point, but if they haven’t gone and revamped the entire production, then in my opinion, it sounds quite interesting.
Could the world’s most resilient terrace people finally be starting to taste the bitter medicine?
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I appreciate the meticulous attention to detail😅. So, everyone just go check out local pharmacies and ask if there’s been demand recently.
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I ordered 5 packages from Your Pharmacy the week before last, and they arrived quickly.
Stock balances can also be conveniently seen on pharmacy websites. Here are the university pharmacy’s 100mg 60-count Acetium packages.
Let’s also add the lozenges! This one is popular.
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Many thanks to @Peluri and @PaulKo for the updates!
My concern for the well-being of our drinking folk’s ‘juice bellies’ proved to be unnecessary.
A weight has been lifted from my shoulders, and thus relieved, I can prepare to celebrate the midsummer festival.
A wonderful and peaceful Midsummer to all!
Balle
P.S. And don’t you rascals (both girls and boys!) pee over the edge from the rowing boat on your perch fishing trip on the lake.
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Did you get an exceptional amount of heartburn during Midsummer, or what’s now boosting Biohit, as it already went up +12% from Wednesday’s closing price with higher than normal volume? The H1 results are approaching in a month, so there’s reason to be vigilant, but there are no news or even rumors. I don’t understand what’s going on 
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Could the share price increase be related to the expectations mentioned above in the March 2nd Sijoittaja-alokas’s (Investor Rookie’s) post / Antti’s analysis regarding the “…mid-year new market opening”?
"Antti has prepared a new company report on Biohit. 
Biohit’s share price has decreased, and with it, the return/risk ratio has once again become attractive. We are therefore raising our recommendation to ‘add’ (previously ‘reduce’) and reiterating our target price of 3.2 euros. There have been no changes in the company’s outlook, so we are not adjusting our forecasts in connection with this update. For the current year, we expect Biohit to continue its defensive profitable growth, driven by a new product launch announced early in the year, a mid-year new market opening, and new distributable products. Uncertainty for the year is brought by the situation in the Middle East and the development of profitability as a result of changes in the sales mix"
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“Opening a new market” doesn’t sound very inspiring. That promise is already fulfilled by simply signing another distribution agreement with some micro-enterprise and making lozenges available in some extremely poor small state. Hitti used to publish such announcements back in the day.
Well, even though the phrase “opening a new market” brought back unpleasant memories for me, the company’s operations actually seem to have a different vibe nowadays. I returned as an owner last autumn after a break of several years, and it’s comfortably in the black, even though the best price peak melted away.
Currently, I attach my greatest hopes to Korea. A relatively large, very solvent nation with documented strong interest and a public health need for widespread use of the company’s flagship product.
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