Interim Report for the second quarter

CEO COMMENTARY

For the first time, sales during the past 12 months reached 5 MSEK. Since our previous report, much effort has gone into implementing the ambitious market expansion made possible by the capital acquisition this summer. The growing sales and marketing department was recently strengthened by two application specialists and an area sales manager. In November we held our first distributor meeting. In total over 20 distributor representatives made their way to Dubai to share experiences and learn more about HoloMonitor. The meeting was a great success and without reservation reaffirmed our shared view — HoloMonitor’s substantial market potential.

Moreover, the technical department has been expanded with an additional engineer. This in order to maintain a high level of service while continuing to develop new software and accessories for the HoloMonitor product line. Read more about the distributor meeting here.

 

The next version of our new software, HoloMonitor App Suite 2.0, is on track and scheduled for a spring market launch. Besides additional software application, App Suite 2.0 will support Software as a Service (SaaS), allowing us to offer customers to license additional applications and assays through our website.

As communicated last week, we recently entered into a partnership with the department of immunotechnology at Lund University. Based on HoloMonitor technology, the partnership aims to develop novel methods for culturing and studying living 3-dimensional microtumors non-invasively. Microtumors are particularly interesting to cancer researchers as they are the source of metastatic cancer and often resistant to chemotherapy, which is the reason why metastatic cancer is difficult to treat, today. Various market reports value the rapidly growing global 3D cell culture market to 600 – 1 400 million USD annually, with an expected annual growth rate (CAGR) of 15 – 35 %. Read the pressrelease here.

Peter Egelberg, CEO