HELSINKI, Aug. 26, 2021 /PRNewswire/ — The strong momentum continues: Additional line capacity, more projects, new clients, the number of employees crosses 100, while the gross margin forcefully breaks through 90 per cent. Letter of intent signed for the development, manufacturing, and commercialization of a by nanoforming improved version of a current blockbuster drug.
Q2/2021 key financials:
H1/2021 key financials:
Significant events during H1/2021
The raised midterm business targets were a consequence of several factors: the additional market opportunity foreseen for Nanoform’s new biologics technology, the significant interest in Nanoform’s service offering shown by the global pharma market, and the fact that both the number of companies developing novel drugs and the total number of APIs in the global pipeline continue to grow rapidly.
Significant events after H1/2021
CEO’s review
To build, serve, and polish simultaneously – execution is key.
Nanoform has continued to execute strongly on all these three fronts during the last months. Our GMP expansion progresses according to timetable and budget, and we have now ordered the main equipment for GMP lines 2 and 3, which we target to have operational in 2022. In addition, we have engaged with an industrial gas company to take our (super critical CO2) flow rates to the next level by installing a 40m3 tank that will allow us to take another logarithmic step in our manufacturing capabilities. This fits well with the recently signed letter of intent with a new client to develop, manufacture, and commercialize a by nanoforming improved version of a current blockbuster drug. If the ongoing POC project is successful, the following step in the plan is to move rapidly into GMP manufacturing of tens of kilograms of API for clinical studies. We’re prepared for that.
We have thoroughly evaluated five global ERP vendors and their IT services partners during the last six months, and we are about to sign with the winning consortium. Implementing a new enterprise resource planning system is a large project that we will do in steps, starting with Finance and HR, before moving to Manufacturing, QC, QA etc. As a young company we have few legacy systems, and we use this opportunity to early on implement the best global pharma practices into all parts of Nanoform. In parallel, our ISO 27001 project has progressed nicely, and I expect it to be ready during 2021.
In June we held our first CMD, which included a live virtual tour of our facilities and a live demonstration of our CESS technology in action. Our Biologics team showed results on e.g. nanoformed insulin, on the extended size range of the molecules they work on (6 kDa – 140 kDa) and we are now ready to take on antibodies. The logarithmic productivity and capacity growth of our next generation STARMAP® artificial intelligence platform was described by our R&D team. The very positive feedback we got from analysts and investors echoed that provided by pharma companies for which we have held similar live tours during the last year. Whereas we all look forward to some travelling and meetings in-person, it is clear that virtual tours are efficient economically and timewise, not forgetting that they are environmentally friendly.
During the last months we’ve added additional line capacity, won more projects, signed new clients – of which two are global major pharma companies, entered into new collaborations, experienced the number of employees cross 100 and seen the gross margin jump above 90 per cent. Based on all this action in combination with client interaction, sales pipeline, and our recently strengthened commercial team, I’m confident that the coming quarters and years will continue to show strong commercial momentum.
Again, none of this could have been achieved without our amazing employees and great partners. My sincere THANK YOU to you all for your continued dedication to Nanoform and for the inspiring and innovative work for which we’re known.
Best Regards,
Prof. Edward Hæggström, CEO Nanoform
Company near-term business targets for 2021 and 2022 (re-iterarated)
Company mid-term business targets 2025 (raised on June 2; re-iterated)
Nanoform’s complete Q2/2021 Interim Report can also be found at: https://nanoform.com/en/financial-reports-and-presentations/
Nanoform Q2/2021 Interim Report conference call and online presentation Aug 26, 2021 at 3:00 p.m. Helsinki time / 2:00 p.m. Stockholm time
Nanoform will be represented by CEO Edward Hæggström, CFO Albert Hæggström and CCO Christian Jones. The presentation will be delivered in English.
The presentation will be broadcast live as a webcast available at:
https://financialhearings.com/event/13595
Teleconference dial-in numbers:
FI: +358981710522
SE: +46850558355
UK: +443333009263
US: +16467224902
For further information, please contact:
Albert Hæggström, CFO
albert.haeggstrom@nanoform.com / +358 29 370 0150
For investor relations queries, please contact:
Henri von Haartman, Director of Investor Relations
hvh@nanoform.com / +46 7686 650 11
About Nanoform:
Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to provide hope for patients in developing new and improved medicines utilizing Nanoform’s platform technologies. The company focuses on reducing clinical attrition and on enhancing drug molecules’ performance through its nanoforming technologies and formulation services. Nanoform’s capabilities include GMP manufacturing, and its services span the small to large molecule development space with a focus on solving key issues in drug solubility and bioavailability and on enabling novel drug delivery applications. Nanoform’s shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 744 1900. For more information, please visit www.nanoform.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitation, statements regarding Nanoform’s strategy, business plans and focus. The words may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, any related to Nanoform’s business, operations, clinical trials, supply chain, strategy, goals and anticipated timelines, competition from other companies, and other risks specified in Nanoform’s prospectus published (on May 22, 2020) in connection with Nanoform’s initial public offering (the “Prospectus”) under “Risk Factors” and in our other filings or documents furnished to the Finnish Financial Supervisory Authority in connection with the Prospectus. Nanoform cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nanoform disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Nanoform’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/nanoform/r/nanoform-interim-report-january—june-2021,c3403308
The following files are available for download:
Nanoform Interim Report January — June 2021 |
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SOURCE Nanoform
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