New business opportunities and accelerating health innovation
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As we head towards the end of 2022, I want to take the opportunity to look at the most important developments for Fluicell this year and the opportunities they create for us for 2023 and going forward. 2022 has been a year where we have seen the world start to open up after the pandemic that shaped everything that happened during 2020 and 2021. It is also a year where the global economy has been influenced by supply chain challenges and increases in prices and interest rates. Despite the many challenges, this has been a successful year for Fluicell, with many positive developments that will carry us into 2023. This year we have continued to create innovative new research technologies, we have made substantial progress in our internal in vitro disease model and regenerative medicine development, and we have reached all time high revenue, to lists some of our achievements.
Expanded sales opportunities
We entered 2022 with a clear ambition to improve our sales processes to strengthen our sales pipeline and increase product sales. When we now approach the end of the year, we can safely say that we have managed to achieve much of what we set out to do this year, but that we still have some way to go until we fully reach our goals.
To realize Fluicell’s increased sales ambitions and emphasis on commercial partnerships, we have performed a number of key recruitments to our sales organization this year. In April, we recruited Nelson Khoo as Chief Business Development and Sales Officer with a mandate to build an even stronger sales team, and in October, Sanna Sämfors joined the team as Application Specialist. Our recruitments this year means that we are well poised to meet customer needs within bioprinting and single-cell biology, and we will continue to strengthen this capacity even further during 2023.
An important focus this year has been to take advantage of the fact that the countries across the world have started to open up after pandemic lockdowns to meet with researchers directly to showcase our technology on site. This work has been facilitated by our launch of Biopixlar AER in March this year, which makes it possible for our sales team to bring our bioprinting platform to conferences and research labs. Feedback from researchers have been extremely positive, which is very encouraging for us.
This year, we have also deliberately targeted geographical markets where we see a large growth potential and where we don’t have a strong presence today. This ambition is perhaps best exemplified by the Asia tour that the sales team did in November, when they visited labs and met with researchers in Japan, Singapore and Malaysia. The trip has resulted in several interesting leads and new businesses opportunities. On top of this, we have gained a strong foothold on the Australian marked through BioPen and Biopixlar sales and through our participation in the fourth Australian bioprinting workshop.
Although much of the work we have done this year will take time to take full effect, Fluicell has ended the year in a very strong manner with several closed deals. The total revenue for this year amounts to at least 6.5 MSEK. On top of this, we have communicated orders this year that should be part of the Q1 result worth approximately 1.2 MSEK. This makes 2022 the highest grossing year for Fluicell to date. Our goal for 2023 is to continue this trend and increase our sales even further.
A year of innovation
Our ability to innovate has always been one of Fluicell’s core values. Not as innovation for innovation’s own sake, but as a way to provide new technologies that can meet real costumer needs that are not satisfied by currently existing products on the market. This year, our ability to innovate has been demonstrated perhaps more clearly than ever. Biopixlar AER, our second product in the Biopixlar family, is the first 3D bioprinting platform on the market that combines microfluidic high precision bioprinting with a compact format that facilitates easy workflow integration.
The reception for the new platform among researchers has been great, with many people being impressed with its unique capabilities and ease of use. Biopixlar AER has also been recognized by industry experts this year, receiving a nomination for innovation of the year by 3D Printing Industry. Moreover, Fluicell was awarded this year as most innovative company by All3DP, to a large extent thanks to Biopixlar AER.
Our R&D teams have new innovative research solutions planned for 2023, including both new technologies and new biological research applications, that will enable new discoveries across life science research and drug development.
Exciting new research progress
During 2022, we have also made considerable internal development progress in both our in vitro disease models and regenerative medicine business areas. In our international research collaboration BIRDIE, which focuses on in vitro renal models, we have delivered critical research infrastructure that will enable simultaneous tissue bioprinting and viral infection studies, which is an important part of in vitro model functionality. The new infrastructure will enable new advances in the project going forward. This summer we also successfully delivered the final milestone in our cardiac disease model pilot project that we have been conducting together with a major Swiss pharmaceutical company. Simultaneously, we have also continued to work on cardiac disease models in our in-house research and we see great opportunities in further advancing in this area towards commercial release during 2023.
We are also progressing our regenerative medicine development in both diabetes and cardiac disease areas. During the past year, we have been consulting leading industry experts in the respective fields and have received great feedback that will help us advance development further. Our plan for 2023 is to advance both disease areas to be able to initiate preclinical development and to publish parts of our advances to further enable development partnerships.
In addition to this, we have also established a stronger position within the Nordic life science and ATMP communities. This, together with our recruitment of Regina Fritsche Danielson to Fluicell’s board of directors, is of great value for us as we continue to grow Fluicell as a life science company.
A promising 2023
Despite challenging conditions in the world around us, Fluicell has been able to make significant advances during 2022 and has developed substantially as a company. We believe that that the work that we have done this year will bear fruit during 2023 and the years ahead. With that, I want to thank the team at Fluicell and everyone supporting the company and I wish you all happy holidays and a wonderful new year.
Victoire ViannayDecember 20, 2022
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