Assets
| Type | Time | Amount | Unit |
|---|
Revenue
| Type | Start date | End date | Amount | Unit |
|---|
XML
See the xml submitted here:
XML: INVALID
Separator
The full data:
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<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx1" unitRef="vDKK" decimals="-3">32000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<mrv:CorporateGovernanceReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporate governance of BioPorto</td></tr><tr><td colspan="1">In its corporate governance, BioPorto focuses on investor relations, and the Board of Directors gives priority to exercising good corporate governance as defined by the companyâs articles of association, values and policies, as well as relevant legislation and âRules for issuers of sharesâ issued by NASDAQ Copenhagen A/S.</td></tr><tr><td colspan="1">Recommendations for Corporate Governance</td></tr><tr><td colspan="1">BioPorto is covered by the recommendations of the Committee for Corporate Governance, which are available on: www.corporategovernance.dk.</td></tr><tr><td colspan="1">The Board of Directors regularly assesses how the Recommendations may contribute to strengthening the management of BioPorto and ensure maximum value creation for the Companyâs shareholders.</td></tr><tr><td colspan="1">Once a year, the Board of Directors reviews the Recommendations and evaluates BioPortoâs compliance with the Recommendations. The Board of Directors believes that BioPorto has complied with all but three of the Recommendations.</td></tr><tr><td colspan="1">BioPorto has a vesting period or maturity period, of 24 months on all share-based compensation instead of 36 months as stipulated in the recommendations article 4.1.2 and 4.1.4. The Board of Directors has made the assessment that a vesting or maturing period in BioPortoâs warrant programs should be 24 months, and should be below the recommended level, in order to motivate the recipient to implement the company's short-term goals that are relevant to the company's long-term value creation. In 2019 two warrant programs (June 2018 and August 2018) had the vesting period extended from 24 to 36 months. At the same time the exercise period for the two programs was reduced from 36 to 24 months.</td></tr><tr><td colspan="1">Further, due to the size of BioPorto, the company does not have a Whistleblower Scheme as stipulated in the recommendations article 5.2.</td></tr><tr><td colspan="1">The mandatory review of corporate governance, pursuant to Section 107b of the Danish Financial Statements Act, is found on the companyâs website.</td></tr><tr><td colspan="1">Work of the Management and Board of Directors</td></tr><tr><td colspan="1">The Board of Directors defines BioPortoâs objectives, policies and areas of activity. Furthermore, the Board of Directors makes decisions in all unusual matters or matters with far-reaching implications. In addition, the Board of Directors approves, monitors, evaluates and revises the Executive Boardâs business strategy and action plans.</td></tr><tr><td colspan="1">The Board of Directors also ensures that BioPorto is properly managed as required by the Articles of Association, other guidelines, policies and applicable rules and regulations. The Board of Directors defines guidelines for the distribution of responsibilities between the Board of Directors and the Executive Board but does not participate in the day-to- day management of the Company.</td></tr><tr><td colspan="1">The duties of the Board of Directors are described in the Rules of Procedure for the Board of Directors and the Executive Board. The Board of Directors held 16 Board meetings in 2019, including one full-day strategy meeting. Five (5) meetings are planned for 2020 in accordance with the Board of Directorsâ annual schedule, which may be changed at any time to allow for additional meetings, if necessary.</td></tr><tr><td colspan="1">The Board of Directors appoints the Companyâs Executive Board and defines the working conditions and assignments to be undertaken by the Executive Board. BioPortoâs Executive Board is responsible to the Board of Directors for ensuring that day-to-day operations are conducted in a commercially and legally responsible manner.</td></tr><tr><td colspan="1">Evaluation of the performance of the Board of Directors and the Executive Management</td></tr><tr><td colspan="1">The Chairman of the Board of Directors is responsible for evaluating the Board of Directors and the Executive Board every year. The evaluation also includes the collaboration with the Executive Board and the composition and special qualifications of the Board of Directors, and it must produce an assessment of the results achieved during the year, which are subsequently presented and discussed at a Board meeting and accounted for in the management's review. External assistance is obtained at least every third year to conduct the survey.</td></tr><tr><td colspan="1">In 2019, the Chairman of the Board concluded that the Board of Directors now has US experience and competencies among the Board members, due to the addition of two new US Board members.</td></tr><tr><td colspan="1">Composition of the Board</td></tr><tr><td colspan="1">The general meeting, which is BioPortoâs supreme authority, elects between three and seven members to the Board of Directors. The Board of Directors elects a Chairman and a Vice Chairman and currently consists of five members elected by the shareholders.</td></tr><tr><td colspan="1">The members elected by the shareholders hold office for terms of one year at a time and may be re-elected. The members of the Board are nominated and stand for election on the basis of their specific qualifications and experience of relevance to BioPorto. Thus, the Board of Directors is composed with a view to ensuring an optimum combination of professional industry experience in general, in research and development, in IP rights and conclusion of contracts, in sales and marketing, as well as in finance and economics. All current Board members are considered independent persons, in order for the Board of Directors to be able to act independently. Each Board memberâs special qualifications may be found on the Companyâs website.</td></tr><tr><td colspan="1">Board committees</td></tr><tr><td colspan="1">BioPortoâs Board of Directors has set up a Remuneration and Nomination Committee, an Audit Committee, and a Business, Research and Development Committee. The Vice Chairman of the Board of Directors is Chairman of the Audit Committee and possesses the necessary professional qualifications and experience. A review of the terms of reference of the Board Committees and their composition is available on the Companyâs website.</td></tr><tr><td colspan="1">Amendments to the articles of association</td></tr><tr><td colspan="1">The general meeting adopts amendments to the articles of association and takes all other decisions based on a simple majority, provided that a specific majority or representation is not required pursuant to the provisions of the Danish Companies Act or the articles of association.</td></tr><tr><td colspan="1">Remuneration policy and Remuneration Report</td></tr><tr><td colspan="1">This Section constitutes BioPortoâs Remuneration Report for 2019.</td></tr><tr><td colspan="1">Each year, the shareholder meeting approves the remuneration of Board members, and any remuneration for alternates, for the current fiscal year. The Board does not participate in the companyâs share-based compensation.</td></tr><tr><td colspan="1">The basic fee of the Board is set at a level assessed as being competitive and reasonable compared to the sector in general and the companyâs current situation. Board members are paid a fixed annual remuneration, while the Chairman and Vice Chairman, according to a specific decision of the shareholder meeting, can be remunerated with a higher fee.</td></tr><tr><td colspan="1">If a committee is established, or if Board members are charged with performing special tasks for the Board, the Board may submit a recommendation to the shareholder meeting that supplementary remuneration be provided. The Board may submit a recommendation to the shareholder meeting that alternates should also receive remuneration.</td></tr><tr><td colspan="1">In 2019 the Annual General Meeting approved a fee of DKK 250,000 per ordinary Board member, and a fee of DKK 350,000 to the Vice Chairman and DKK 500,000 to the Chairman. Further it was approved that participation in a committee is remunerated with a supplementary fee of DKK 25,000 per committee, but with an overall cap of DKK 50,000 per ordinary Board member. The Chairman and Vice Chairman do not receive supplementary fees for committee participation.</td></tr><tr><td colspan="1">BioPortoâs remuneration policy can be found on the companyâs website.</td></tr><tr><td colspan="1">The remuneration of the Executive Management is set at a level deemed competitive and reasonable compared to the sector in general and the companyâs current situation. The Executive Management does not receive remuneration for being a member of the Management or Board of BioPorto A/Sâs Danish subsidiaries. The Executive Management receives remuneration for management positions in US subsidiaries of BioPorto A/S.</td></tr><tr><td colspan="1">The remuneration comprises a fixed salary, pension scheme, annual bonus and participation in share-based compensation. In the view of the Board, a combination of fixed and performance-dependent salary for the Executive Management helps to ensure that remuneration, which is in part incentive-based, motivates the Executive Management to create added value for the benefit of the shareholders.</td></tr><tr><td colspan="1">The annual bonus may comprise 150% of the fixed yearly salary. This may also involve a retention bonus, loyalty bonus or similar. Whether a bonus is paid out, will depend on whether the terms, conditions and targets defined in the agreement were achieved in part or in full. This may involve personal targets associated with the specific directorâs own performance, BioPortoâs results or the occurrence of relevant events.</td></tr><tr><td colspan="1">In 2019, the Executive Management was made up of one person. In 2019, the Executive Management was paid DKK 4.9 million (in salary, including pension (contribution-based) and bonus, excluding share-based compensation.</td></tr></table></mrv:CorporateGovernanceReport>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3">Review of the gender-based composition of the Management and Board, cf. Section 99b of the Danish Financial Statements Act</td></tr><tr><td colspan="3">Diversity in the composition of the Board is endeavored, with a reasonable age composition, several nationalities and an equal gender ratio. The Board currently has five members, four of whom are men and one woman.</td></tr><tr><td colspan="3">BioPorto has adopted a Diversity Policy, which is available on the companyâs website and reads as follows</td></tr><tr><td colspan="3">âBioPorto is committed to continue working towards ensuring and furthering equal opportunities for all employees in respect of differences, such as gender, age, religion, sexual orientation and ethnicity, as all â in our view â serve as key components in ensuring a better, more dynamic and healthier business. We believe that employees should be recognized because of â and not despite â their diversity. The view extended through this policy also includes maintaining equal opportunities for women and men at all management levels in the BioPorto group. The Board of Directors annually discusses the companyâs activities to ensure relevant diversity at management levels and evaluates the policy on diversity.</td></tr><tr><td colspan="3">BioPorto has defined a target, that no later than in 2022, at least 25 % members of the Management of the company must be women. This target must not detract from other competency requirements in the nomination of members to the Management team of the company. With regards to diversity for the Board of Directors, the gender distribution is 80/20 at the end of 2019. As the defined target has not yet been reached, BioPorto will stay committed to reach the target within the set deadline.â</td></tr><tr><td colspan="3">The nominating committee has a clear policy for evaluating candidates of both genders for vacant Board positions, and for the election of a two new Board members in 2019, two male candidates was deemed to have the best competency profiles. For future vacant Board positions, the nomination committee will continue to evaluate candidates of both genders.</td></tr><tr><td colspan="3">Diversity in other layers of Management</td></tr><tr><td colspan="3">The company does not have a policy for diversity in other layers of Management, as the company is below the minimum threshold (cf. guidelines from the Danish Business Authority).</td></tr><tr><td colspan="3">Gender diversity in BioPorto</td></tr><tr><td colspan="3">The gender diversity in BioPorto at the end of 2019 is shown in the overview below</td></tr><tr><td>2019</td><td>Female</td><td>Male</td></tr><tr><td>Board of Directors</td><td>20,00%</td><td>80,00%</td></tr><tr><td>Executive Management (one person)</td><td>0,00%</td><td>100,00%</td></tr><tr><td>All Employees</td><td>54,00%</td><td>46,00%</td></tr></table></mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Review of corporate social responsibility, cf. Section 99a of the Danish Financial Statements Act</td></tr><tr><td colspan="2">BioPorto is aware of its corporate social responsibility and endeavors to improve social and environmental conditions. In addition to the corporate social responsibility report provided below, BioPorto has signed up to the UN Global Compact, and the latest Communication on Progress, which is available on the companyâs website.</td></tr><tr><td colspan="2">In several areas, BioPorto fulfills its responsibility solely by complying with current law, but in other areas, the companyâs responsibility has been expanded to include preventive activities for optimizing various conditions. It is important to BioPorto to highlight these efforts vis-Ã -vis its customers, suppliers, stockholders, other stakeholders, etc., to ensure that the outside world trusts the company to live up to its social responsibility.</td></tr><tr><td colspan="2">BioPortoâs business</td></tr><tr><td colspan="2">BioPortoâs business model seeks to utilize its unique library of monoclonal antibodies and its biomarker expertise to develop new clinical diagnostic products with attractive potential and bring them to the global market.</td></tr><tr><td colspan="2">The NGAL Test is an example of how BioPorto has successfully taken an antibody from research and discovery phase to a commercial clinical product. Starting with the development of unique monoclonal NGAL antibodies, it was transformed into a microtiter plate assay. From there BioPorto developed The NGAL Test into its current format for automated testing on clinical chemistry systems and is now sold directly and via partners to hospital central laboratories across the world. BioPortoâs other biomarker, Mannan-binding lectin (MBL), also started out as an antibody project and is now, in its present CE approved ELISA format, sold via distributors for analysis of immunodeficiencies.</td></tr><tr><td colspan="2">BioPorto will, in 2020, complete clinical studies and submit regulatory applications for two separate indications of The NGAL Test with the FDA; one for risk use with AKI in adults based on plasma, and one for risk use with AKI in urine in children, which will enable BioPorto to sell The NGAL Test for diagnostic purposes in the US following FDA clearance.</td></tr><tr><td colspan="2">For a detailed description of BioPortoâs strategy and objectives, see page 8.</td></tr><tr><td colspan="2">Risks</td></tr><tr><td colspan="2">The Group's risk of affecting the environment and climate, human rights and anti-corruption is assessed to be limited. The risk assessment has been carried out in such a way that selected topics have been analyzed for their potential risk for BioPorto and the Group's stakeholders, respectively. Risk is in this context, a product of the subject's proportional role in the daily business, and the likely negative impact the topic has on the group or stakeholders. To the extent that risks have been identified, the individual areas are described together with the relevant policies.</td></tr><tr><td colspan="2">For a detailed description of BioPortoâs additional risks, see Risk management on page 14.</td></tr><tr><td colspan="2">Human rights</td></tr><tr><td colspan="2">1. Businesses should support and respect the protection of internationally proclaimed human rights; and</td></tr><tr><td colspan="2">2. make sure that they are not complicit in human rights abuses.</td></tr><tr><td colspan="2">BioPorto supports and respects internationally recognized human rights. BioPorto has no external suppliers in countries that do not respect human rights. In 2017, BioPorto established a Code of Conduct covering the above. BioPortoâs employees are bound by BioPortoâs Code of Conduct and the company has initiated a process of implementing the Code of Conduct into supplier contracts to ensure that the companyâs suppliers respect human rights. Again in 2019 BioPortoâs employees have been trained on Human Rights and a training session has been conducted for all new employees to raise the public awareness on human rights.</td></tr><tr><td colspan="2">BioPortoâs executive management monitor and evaluates the performance annually. Any alleged incidents of Human Rights abuses would be reported to the executive management and the executive management would take prompt action.</td></tr><tr><td colspan="2">Labor rights</td></tr><tr><td colspan="2">3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;</td></tr><tr><td colspan="2">4. the elimination of all forms of forced and compulsory labor;</td></tr><tr><td colspan="2">5. the effective abolition of child labor; and</td></tr><tr><td>6.</td><td>the elimination of discrimination in respect of employment and occupation.</td></tr><tr><td colspan="2">Danish and American traditions, culture and law mean that labor rights are naturally supported and complied with by BioPorto, both in Denmark and the United States. BioPorto has no external suppliers in countries that use child labor or forced and compulsory labor, and BioPorto deems that there is a very low risk of this taking place in areas where BioPorto might be expected to operate. In 2017, BioPorto established a Code of Conduct covering the above. BioPortoâs employees are bound by BioPortoâs Code of Conduct and the company has initiated a process of implementing the Code of Conduct into supplier contracts to ensure that suppliers comply with these labor rights.</td></tr><tr><td colspan="2">The BioPorto group has fair and equal employment terms and working conditions, including equality and non-discrimination. BioPortoâs employee handbook covers policies concerning the employee rights. BioPorto works consistently to maintain a safe and healthy work environment. Many procedures are in place. Both the physical and mental working environment are monitored and continually improved to avoid accidents, injury and illness. Management ensures that employees are trained to handle hazardous goods and chemicals correctly.</td></tr><tr><td colspan="2">In the composition of its staff, BioPorto endeavours to achieve an equal gender breakdown as well as a diversity of educational backgrounds, nationalities and cultures. This diversity provides a dynamic workday and encourages fine interplay for the benefit of staff and company efforts alike.</td></tr><tr><td colspan="2">Any incidents of violations of Labor principles would be reported to the executive management. The executive management would investigate the violation.</td></tr><tr><td colspan="2">BioPorto monitors and evaluates performance yearly by looking at working related injurie, employee related cases with the union etc.</td></tr><tr><td colspan="2">BioPorto had zero employee related cases with the union in 2019 and BioPorto had no working related injurie in 2019.</td></tr><tr><td colspan="2">Environment</td></tr><tr><td colspan="2">7. Businesses should support a precautionary approach to environmental challenges;</td></tr><tr><td colspan="2">8. undertake initiatives to promote greater environmental responsibility; and</td></tr><tr><td colspan="2">9. encourage the development and diffusion of environmentally friendly technologies.</td></tr><tr><td colspan="2">BioPortoâs in-house production is limited in scope and of such a nature that it has an insignificant environmental impact. BioPorto is continuously seeking to reduce its environmental impact as much as possible and to be compliant with environmental legislation. An ongoing effort will be made in an environmentally conscious way in order to minimize any other possible environmental impact, including the consumption of water and electricity, which will cut costs at the same time. BioPortoâs activities are primarily knowledge-based and employees are encouraged to be mindful of the environment and climate, and to produce as little waste as possible. BioPortoâs employees are bound by BioPortoâs Code of Conduct and the company has initiated a process of implementing the Code of Conduct into supplier contracts to ensure the above. BioPorto use less paper due to double-sided printing in 2019 than in 2018. Management will continually encourage employees to do environmental and climate friendly initiatives</td></tr><tr><td colspan="2">Any incident would be reported to the executive management and they would take prompt action to make sure the incident would not happen again.</td></tr><tr><td colspan="2">Anti-corruption</td></tr><tr><td colspan="2">10. Businesses should work against corruption in all its forms, including extortion and bribery.</td></tr><tr><td colspan="2">BioPorto has a zero-tolerance policy regarding corruption, bribery and similar methods and BioPortoâs activities must always be in compliance with existing anti-corruption legislation and the UN Convention against Corruption. Suppliers and partners are chosen with care and are included in BioPortoâs quality system. Also in 2019 Corruption problems have not affected BioPortoâs activities up to now and BioPorto has not been involved in any legal cases, rulings or other events related to corruption and bribery.</td></tr><tr><td colspan="2">In 2017, BioPorto established a Code of Conduct covering the above. BioPortoâs employees are bound by BioPortoâs Code of Conduct and the company has initiated a process of implementing the Code of Conduct into supplier contracts to ensure that suppliers comply with the above.</td></tr><tr><td colspan="2">Any incidents of corruption would be reported to the Executive Management and they would prompt take action to ensure that a similar incident would not happen again.</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<gsd:NameOfReportingEntity contextRef="ctx1" xml:lang="da">BioPorto A/S</gsd:NameOfReportingEntity>
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<gsd:AddressOfReportingEntityDistrictName contextRef="ctx1" xml:lang="da">Hellerup</gsd:AddressOfReportingEntityDistrictName>
<gsd:AddressOfReportingEntityCountry contextRef="ctx1" xml:lang="da">Denmark</gsd:AddressOfReportingEntityCountry>
<gsd:HomepageOfReportingEntity contextRef="ctx1">www.bioporto.com</gsd:HomepageOfReportingEntity>
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<gsd:ReportingPeriodStartDate contextRef="ctx1">2019-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx1">2019-12-31</gsd:ReportingPeriodEndDate>
<gsd:DateOfGeneralMeeting contextRef="ctx1">2020-04-14</gsd:DateOfGeneralMeeting>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx1" xml:lang="da">Anders Ãrjan Jensen</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
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<gsd:FaxNumberOfReportingEntity contextRef="ctx1" xml:lang="da">(+45) 4529 0001</gsd:FaxNumberOfReportingEntity>
<gsd:EmailOfReportingEntity contextRef="ctx1" xml:lang="da">info@bioporto.com</gsd:EmailOfReportingEntity>
<gsd:NameOfFinancialInstitution contextRef="ctx1" xml:lang="da">Nordea Bank Danmark A/S</gsd:NameOfFinancialInstitution>
<gsd:AddressOfFinancialStreetName contextRef="ctx1" xml:lang="da">Strandgade</gsd:AddressOfFinancialStreetName>
<gsd:AddressOfFinancialStreetBuildingIdentifier contextRef="ctx1" xml:lang="da">3</gsd:AddressOfFinancialStreetBuildingIdentifier>
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<gsd:AddressOfFinancialDistrictName contextRef="ctx1" xml:lang="da">Copenhagen C</gsd:AddressOfFinancialDistrictName>
<gsd:NameOfLawFirm contextRef="ctx1" xml:lang="da">Gorrissen Federspiel</gsd:NameOfLawFirm>
<gsd:AddressOfLawFirmPostCodeIdentifier contextRef="ctx1" xml:lang="da">DK-1609</gsd:AddressOfLawFirmPostCodeIdentifier>
<gsd:AddressOfLawFirmDistrictName contextRef="ctx1" xml:lang="da">København V</gsd:AddressOfLawFirmDistrictName>
<gsd:AddressOfLawFirmStreetName contextRef="ctx1" xml:lang="da">Axeltorv</gsd:AddressOfLawFirmStreetName>
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement by Management</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and Executive Management have today considered and adopted the Annual Report of BioPorto A/S for the financial year January 1 â December 31, 2019.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and the Parent Company Financial Statements have been prepared in accordance with the Danish Financial Statements Act. Managementâs Review has been prepared in accordance with the Danish Financial Statements Act.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at December 31, 2019 of the Group and the Parent Company and of the results of the Group and Parent Company operations and consolidated cash flows for the financial year January 1 - December 31, 2019.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, Managementâs Review includes a true and fair account of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and the Parent Company as well as a description of the most significant risks and elements of uncertainty facing the Group and the Parent Company.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the Annual Report be adopted at the Annual General Meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx1" xml:lang="da">Hellerup</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx1">2020-03-11</sob:DateOfApprovalOfAnnualReport>
<arr:IndependentAuditorsReportsAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditorâs report</td></tr></table></arr:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of BioPorto A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Our opinion</td></tr><tr><td colspan="1">In our opinion, the Consolidated Financial Statements give a true and fair view of the Groupâs financial position at December 31, 2019 and of the results of the Groupâs operations and cash flows for the financial year January 1 to December 31, 2019 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Moreover, in our opinion, the Parent Company Financial Statements give a true and fair view of the Parent Companyâs financial position at December 31, 2019 and of the results of the Parent Companyâs operations for the financial year January 1 to December 31, 2019 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors.</td></tr><tr><td colspan="1">What we have audited</td></tr><tr><td colspan="1">The Consolidated Financial Statements and the Parent Company Financial Statements of BioPorto A/S for the financial year January 1 to December 31, 2019 comprise income statement, balance sheet, statement of changes in equity and notes, including summary of significant accounting policies for the Group as well as for the Parent Company and statement of comprehensive income and cash flow statement for the Group. Collectively referred to as the âFinancial Statementsâ.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditorâs responsibilities for the audit of the Financial Statements section of our report.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with the IESBA Code.</td></tr><tr><td colspan="1">To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.</td></tr><tr><td colspan="1">Appointment</td></tr><tr><td colspan="1">We were first appointed auditors of BioPorto A/S on 10 April 2014 for the financial year 2014. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 6 years including the financial year 2019.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:MaterialUncertaintyConcerningGoingConcernAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Material Uncertainty Related to Going Concern</td></tr><tr><td colspan="1">We draw attention to Note 22 in the consolidated financial statements, which describe that the budgeted liquidity may be tight during 2020 and is dependent on both the completion and the amount of cash from the planned capital increase later in 2020. This indicates that a material uncertainty exists that may cast significant doubt on the Groupâs ability to continue as a going concern.</td></tr><tr><td colspan="1">Our opinion is not modified in respect of this matter.</td></tr></table></arr:MaterialUncertaintyConcerningGoingConcernAudit>
<arr:KeyAuditMattersAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Key audit matters</td></tr><tr><td colspan="1">Except for the matter described in the Material Uncertainty Related to Going Concern section, we have determined that there are no other key audit matters to communicate in our report.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Managementâs Review</td></tr><tr><td colspan="1">Management is responsible for Managementâs Review.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements does not cover Managementâs Review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the Financial Statements, our responsibility is to read Managementâs Review and, in doing so, consider whether Managementâs Review is materially inconsistent with the Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, we considered whether Managementâs Review includes the disclosures required by the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, in our view, Managementâs Review is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Managementâs Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act and for the preparation of parent company financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is responsible for assessing the Groupâs and the Parent Companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditorâs responsibilities for the audit of the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.</td></tr><tr><td colspan="1">As part of an audit in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Parent Companyâs internal control.</td></tr><tr><td colspan="1">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group or the Parent Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.</td></tr><tr><td colspan="1">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</td></tr><tr><td colspan="1">We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.</td></tr><tr><td colspan="1">From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2020-03-11</arr:SignatureOfAuditorsDate>
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<ifrs-full:EquityAndLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-3">66201000</ifrs-full:EquityAndLiabilities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx4" unitRef="vDKK" decimals="-3">46709000</ifrs-full:CashAndCashEquivalents>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx5" xml:lang="da">Profit/loss before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-3">-74299000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx6" xml:lang="da">Profit/loss before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx6" unitRef="vDKK" decimals="-3">-41781000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx7" xml:lang="da">Warrant expenses</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx7" unitRef="vDKK" decimals="-3">3109000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" xml:lang="da">Warrant expenses</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" unitRef="vDKK" decimals="-3">-865000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx9" xml:lang="da">Cash generated from operations before working capital</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx9" unitRef="vDKK" decimals="-3">-68139000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx10" xml:lang="da">Cash generated from operations before working capital</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx10" unitRef="vDKK" decimals="-3">-42103000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx11" xml:lang="da">Cash generated from operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx11" unitRef="vDKK" decimals="-3">-63686000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx12" xml:lang="da">Cash generated from operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx12" unitRef="vDKK" decimals="-3">-42734000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx13" unitRef="vDKK" decimals="-3">46709000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx14" unitRef="vDKK" decimals="-3">47080000</ifrs-full:CashAndCashEquivalents>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx15" xml:lang="da">Peter Mørch Eriksen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx15" xml:lang="da">CEO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx16" xml:lang="da">Thomas Magnussen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx16" xml:lang="da">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx17" xml:lang="da">Torben A. Nielsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx17" xml:lang="da">Vice Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx18" xml:lang="da">Kirsten Drejer</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx19" xml:lang="da">Christopher Lindop</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx20" xml:lang="da">Michael Singer</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<gsd:AddressOfAuditorStreetName contextRef="ctx21" xml:lang="da">Strandvejen</gsd:AddressOfAuditorStreetName>
<gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="ctx21" xml:lang="da">44</gsd:AddressOfAuditorStreetBuildingIdentifier>
<cmn:NameOfAuditFirm contextRef="ctx21" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx21">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx21" xml:lang="da">Torben Jensen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx21" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx21">mne18651</arr:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx22" xml:lang="da">Allan Knudsen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx22" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx22">mne29465</arr:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx22">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx22" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
</xbrli:xbrl>