PHI achieves market acceptance goals
Prior to the company’s IPO in early 2014, three market acceptance goals were set out to be achieved by the end of 2015:
- 50 units in operation at customers and key opinion leaders,
- collaboration agreements with 8 key opinion leaders and
- the company’s main product HoloMonitor® M4 shall be manufactured in series production.
These goals have now been achieved:
- The 50th HoloMonitor unit was recently installed at University of California, San Francisco. The installation is part of a previously announced collaboration to accelerate skin cancer research at the university.
Among others, strategic collaboration agreements are ongoing with research groups at:
- Harvard University, Boston
- Northeastern University, Boston
- 2 × Karolinska Institute, Stockholm
- University of California, San Francisco
- Florida International University, Miami
- German Cancer Research Center, Heidelberg
- Korea Research Institute of Bioscience and Biotechnology, Daejeon
- An initial batch of HoloMonitor M4.5 units is currently being manufactured according to the agreement with the company’s contract manufacturer Optronic. In the batch, the 100th HoloMonitor M4 unit will be manufactured. To date over 80 HoloMonitor units have been sold and delivered.
“We can definitely see the market respond to our strategic collaborations and the 50 units in operation. To meet the rising demand with a high gross margin, production of the HoloMonitor M4.5 base unit has been moved to series production. This will allow us to focus our engineering resources on implementing the design changes needed to also manufacture the M4’s motorized stage in series production with the same high gross margin,” said CEO Peter Egelberg.
“The motorized stage dramatically increases our revenues and is crucial when addressing the Big Pharma market, as it enables automation of applications in what is known in the industry as high-content screening. The current design is flexible, which was important during the evaluation phase, but costly to manufacture. The feedback received through initial sales to Big Pharma and others now allow us to finalize and adapt the design of the motorized stage for series production, and thereby reduce the manufacturing cost.”