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| Land | Sverige |
|---|---|
| Lista | Spotlight |
| Sektor | Material |
| Industri | Plast, kemikalier & fetter |
The Board of Directors of Polymer Factory Sweden AB (publ) ("Polymer Factory" or the "Company") has today, November 7, 2022, adopted revised objectives for the Company. To promote continued value creation, the Company has set out new internal and external financial and non-financial objectives. Polymer Factory's main objective is to meet the increasing demand from the market by preparing the Company and continue working towards securing new partnership agreements with Big Pharma, MedTech, or BioTech companies with a focus on dendritic amplifiers for product enhancement. Connected to this, the Board of Directors has set out an updated financial objective to have a minimum of 25 percent sales growth annually by 2025.
Since its listing on Spotlight Stock Market in 2021, Polymer Factory has come a long way in strengthening the organization and increasing sales. The Company not only closed the year 2021 with increased revenues, but also launched its new product segment BowtieD®. During the first half of 2022, Polymer Factory has primarily focused on expanding the team and deepening the relationship with its customers, while continuing to engage new leads. On the product development side, Polymer Factory progressed with the development of Dendritic Nanogel (DNG) as a future competitor to liposome carriers, and the expansion of SpheriCal®. Through these strategic actions Polymer Factory has more clearly become a key player that through our different business areas for dendritic materials is active throughout the global market. The Company has an established business infrastructure with the possibility of global up-scale of sales, and with large margins on current sales. Existing partnerships and collaborations also create favorable conditions for establishing new partnerships with multinational corporations.
Financial objective
Polymer Factory's objective is to have a minimum of 25 percent annual sales growth from 1 January 2023 until 31 December 2024. The objective is based on the market conditions relevant for Polymer Factory - where long-term partnerships are the basis of larger sales volumes and reoccurring revenues, and customers firstly use Polymer Factory's products in product development and, later, products that are being launched on the market. Hence, sales processes are a long-term play from in-house production to commercialization. The objective has considered both the potential increase of revenues from customers reaching longer in their product development, as well as being part of final products launching on the markets - and the risk that not all current projects will reach a commercial phase. Note that the previously communicated financial objective no longer applies.
In order to achieve this growth rate, investments in sales and marketing activities, employment of a sales resource, expansion of the organization by adding resources to meet increased demand and continuing to build and maintain the Company's portfolio of IP rights and ISOs are needed to keep momentum. In parallel, the Board of Directors are evaluating alternatives for long-term financing to secure capital needs to further fuel the updated strategic plan.
Non-financial objectives
2022- Market launch and production scale-up of the Company's DNG technology (dendritic nanogel)
A new way for Polymer Factory to attract more customers, increase sales and reach new product segments.
- Continue working towards securing new partnership agreements with a Big Pharma, MedTech, or BioTech company with a focus on dendritic amplifiers for product enhancement
- Secure ISO certificate 13485 (quality management system for medical devices) to advance the Company's operations in demanding regulatory sectors
- Development of SpheriCal® ESI
- Launch of SpheriCal® ESI (Electrospray Ionization) and IM-MS (Ion Mobility Mass Spectrometry)
Expanding the portfolio of the patented SpheriCal® platform enables increased sales and growth in the segment. By adding calibrants for ESI and IM-MS, Polymer Factory can reach new customers and markets, and become a more full-service calibrant supplier in the MS markets.
- Contract regarding dendritic amplifiers
- Continue IPR DNG (dendritic nanogel)
- Partnership SpheriCal®
Polymer Factory has ongoing projects for SpheriCal® and signed an OEM-agreement with Bruker Daltonics GmbH and Co. KG in 2021 and aims for current activities to lead to partnership agreements in 2023.
- Expand the sales organization
- Ambition of multiple agreements regarding dendritic amplifiers
Depending on how the contracts and agreements develop during 2023, Polymer Factory aims to sign more agreements in 2024, based on current and future projects.
- Expand team and production capacity
- Launch of new SpheriCal®
- Additional partnership SpheriCal®
- Partnership DNG
- Expanded product portfolio, dendritic amplifiers
- Product on the market via customer, SpheriCal®
- Product on the market or in clinical phase, dendritic amplifiers
- Additional DNG partnership
- Increase sales of SpheriCal® in all segments
Polymer Factory's ambition is to increase its market shares within the technologies that the Company has calibrants.
Elin Mignérus, CEO Polymer Factory Sweden AB comments;
"We consider the external targets particularly important, and they are a subset of our internal targets and action plans. Today's economic environment accelerates the need to secure our ability to finance investments in future growth drivers with revenues from our commercial products and from our partnerships based on our development projects and the product offer. I look forward to updating the shareholders on our progress with these new objectives."
This disclosure contains information that Polymer Factory is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 07-11-2022 18:05 CET.