Brain+ (BRAINP) Investor Update summary

Fundraising and financial strategy

• Secured a combination of bridge loan and unit rights issue to ensure sufficient funding, with 50% of the rights issue already guaranteed by major shareholders, board, and management.

• Rights issue aims to raise up to EUR 16 million, with EUR 8 million already pre-committed; management and board contributed about 12.5% of the guaranteed amount.

• Operating expenses will be reduced by 35% from H2 2025, focusing all resources on sales-generating activities and pausing new product development.

• Funding is expected to cover operations into 2026, even with only 50% coverage of the rights issue and related warrants.

• If rights issue is oversubscribed, additional funds will be reinvested into new product development later in the year.

Commercial focus and sales pipeline

• Strategic shift to prioritize the U.K. private care home market for faster, scalable sales, with NHS as a secondary, longer-term target.

• Year one objectives include establishing Ayla as a leading CST assistant, achieving GBP 900,000 ARR by end of 2025, and building a strong brand presence.

• Pipeline includes 40 sales-qualified leads, with five considered close to contracting; average annual license fee per care home is GBP 4,000.

• Initial contracts offered at a discounted GBP 1,500 to secure early adopters and logo customers, aiming for a domino effect in market adoption.

• Targeting 400 care home sites and four NHS memory assessment units to reach revenue goals.

Product and market innovation

• Ayla positioned as a unique, evidence-based digital therapeutic for dementia care, with no direct competitors in the market.

• Accredited provider of CST training, offering upskilling for care staff at GBP 200 per person, and building a network of CST-trained professionals.

• Care homes using Ayla can market themselves as dementia specialists, attracting new residents and private pay customers.

• Exploring a hub-and-spoke model where NHS can refer patients to CST groups in care homes, alleviating NHS resource constraints.

• Place-based care approach enables care homes to serve both residents and community members, creating new revenue streams.