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Original-Research: NanoRepro AG (von NuWays AG): BUY
Original-Research: NanoRepro AG (von NuWays AG): BUY
About this update from Nanorepro Ag
Original-Research: NanoRepro AG - from NuWays AG19.06.2026 / 09:00 CET/CESTDissemination of a Research, transmitted by - a service of .The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.Classification of NuWays AG to NanoRepro AGCompany Name:NanoRepro AGISIN:DE0006577109 Reason for the research:UpdateRecommendation:BUYTarget price:EUR 4.3Target price on sight of:12 monthsLast rating change:Analyst:Sarah HellemannConverting its CGM-distribution license into an equity stake Yesterday, NanoRepro announced the conversion of a distribution license covering a CGM-technology of FiberSense into a financial asset. Our take on this development in detail:Introducing FiberSense's and its CGM technology. FiberSense is a health care technology company, developing continuous glucose monitoring (CGM) technology, which collects data on a user's glucose level through sensors and passes it on to smart phones or insulin pumps. Methods of this type have effectively replaced traditional blood sample approaches and are already the standard of care for type I diabetic patients in Germany. The addressable market is highly attractive, anticipated to grow at a 15.4% CAGR from approx. $ 15.3 bn in 2026 to $ 31.4 bn in 2031, according to Mordor Intelligence. Importantly, FiberSense received the CE certification for its CGM system on June 10, 2026, which materially lowered its risk profile and validated years of product development efforts. The commercial market entry now looks significantly closer and provides further upside potential to FiberSense's value.License conversion and bridge financing granted. With the CE certification now granted and the way to market introduction paved for the product, NanoRepro has agreed to exchange the distribution license acquired at the price of € 3m in 2021 for an equity stake in FibreSense. Additionally, NanoRepro provided a € 1m convertible bond to aid its stake in bringing the product to the market. In our opinion, the commercial launch should follow in approximately one year (eNuW).Potential value creation. Given NanoRepro's long-standing involvement with FibreSense since its early development phase, we believe the conversion terms may have been negotiated on favorable conditions. While details of th...