Interim Report January-September 2011

Interim Report January-September 2011


  · Net sales rose 100% to SEK 1,932k (965)
  · Loss after financial items was SEK 9,803k (loss: 8,023)
  · Loss after tax was SEK 9,771k (loss: 7,991)
  · Earnings per share increased to SEK -0.14 (-0.19).
  · Cash and cash equivalents at the end of the period amounted to SEK
11,035k (7,125)

  · All top ten pharma companies are paying customers.
  · Major pharmaceutical companies have published scientific results in
which Genovis products played an important role.
  · The Extraordinary General Meeting in July elected Kenth Petersson to
serve as a new board member. 

ABOUT GENOVIS

Genovis has a strong product portfolio of innovative technologies that
can facilitate and improve production of antibody-based drugs. The
technology offers customers who use mass spectroscopy (MS), an
analytical technique to determine the chemical composition of substances
such as proteins and peptides, more cost-effective quality control.
These customers, who currently include the top ten pharma companies,
several well-known biotech enterprises and academic groups, mainly work
with drug discovery, new diagnostic methods, and basic research.

Genovis has developed cutting-edge expertise in coating and
functionalization of nanoparticles and conducts research and development
projects focused on design, production, and characterization of
nanostructures such as contrast agents in medical imaging. The
nanostructures and methods that Genovis focuses on can also be used as
carriers of various substances in the development of new drug delivery
methods. The life sciences industry and the academic research community
comprise the target group for commercialization.

CEO COMMENTS

The third quarter developed favorably with several new customers and an
increase in the average value of orders. All in all the result was our
best quarter to date. All top ten pharma companies and several leading
biotech companies are now Genovis customers. It is gratifying to note
that interesting scientific articles, in which our customers describe
how they are using our products to develop new methods for quality
control and analysis of monoclonal antibodies, were also published
during this period. Such publications are the best marketing Genovis can
have and it is extremely rewarding to meet customers and discuss their
results and future product concepts.

Our goal is to offer the formats that customers need in order to
implement the new analyses on all levels: from screening of new
pharmaceutical substances to quality control in production. My
assessment is that we are still in an early phase when customers are
testing the technology and comparing it with the standard analyses they
are currently using. The products in our protein engineering portfolio
have great potential if the new analyses become “state of the art” in
the industry and naturally that is what we are aiming at right now.

In January Genovis bought a license for a new type of optical
technology, known as upconverting nanoparticles. We have now made good
progress toward integrating the technology into our nano portfolio. We
have applied our technology to coat nanostructures with a biocompatible
surface and tests in cells are now in progress. We are satisfied with
developments so far, with good test results and the project is also on
schedule. Development of nanoparticles as contrast agents in stem cell
research and cell transplantation has now progressed to a testing phase
by reference customers. Activity in the sentinel node project has
increased in all modalities—MRI, PET/SPECT and ultrasound—and we expect
the first scientific publications from this interdisciplinary
development project shortly.

Sarah Fredriksson

CEO 

For more information, please contact: Sarah Fredriksson, CEO, Genovis AB
Tel: 46 46 10 12 35
sarah.fredriksson@genovis.com (sarah.fredriksson@genovis.com)