In the past year, Cuprina Holdings (Cayman) Ltd reported $80,000 in revenue but incurred a loss of $890,000. The company has a market cap of $30.7 million.
Network 1 Financial Securities handled the IPO underwriting.
Cuprina Holdings specializes in chronic wound care products, particularly medical bio-dressing made from sterile blowfly larvae, sold under the MEDIFLY brand. They operate mainly in Singapore and recently expanded to Hong Kong. The company aims to grow its sales and establish operations in Southeast Asia, the Middle East, and mainland China by 2025. They focus on innovative products derived from natural sources to improve wound care standards.
As of December 31, 2023, they offer MEDIFLY products used in Maggot Debridement Therapy as a safe alternative to surgical methods. They also plan to introduce collagen dressings and medical leech products in 2024 and 2025, pending regulatory approval.
Cuprina’s cosmeceutical line launched three products in 2023, including a hydrating balm and muscle cream. These products are available through hospitals, clinics, and online platforms like Shopee in Singapore, Malaysia, and Australia.
Note: The company’s net loss and revenue are in U.S. dollars. They face uncertainty about their future operations, highlighted by doubts from their accounting firm about their ability to continue without sufficient funding.
Founded in 2019, Cuprina Holdings has 14 employees and is based in Singapore. For more information, visit their website at cuprina.com.
Receive News & Ratings for Cuprina Holdings (Cayman) Ltd Daily – Enter your email below for a daily summary of Cuprina Holdings news and ratings through MarketBeat.com’s FREE daily email newsletter.
`
