With a unique and patented technology helps Swedish LifeAssays veterinarians for rapid and accurate diagnoses. Now it plans a rights issue to take their products out in a rapidly growing global market.
LifeAssays technology is based on research Lund University on how to detect an infection by measuring the amount of a certain protein in the blood. These measurements, also known as fast sinker measurements, is now a standard tool in healthcare. But by relying on magnetism to measure the results of the tests, LifeAssays distinguishes itself from other solutions.
“We measure magnetism, so instead of the test results are indicated by a color change so marked our response to a change in a magnetic field “says Anders Ingvarsson, president of LifeAssays.
LifeAssays® AB’s business developing, manufacturing and selling diagnostic systems based on its proprietary and patented technology platform, MagnetoImmunoAssay (MIA).
company delivers secure and robust systems for fast and reliable analysis in veterinary medicine.
the advantage of this solution is that you both can see the presence of an infection but also helps determine the amount of protein. This way you can quickly see how serious the infection is and even closer watch on a treatment able to reduce the inflammation. This without having to send samples to a laboratory. Anders Ingvarsson similar technique when taking rapid lowering of the health center rather than go to the hospital or send sample there.
LifeAssays was founded in 2000 with the focus to commercialize this technology to measure lower. First, the focus was on the human health, but the past five years has been decided to change direction, and today they are totally focused on the veterinary market.
“Human Side is a gigantic market but it is also huge in terms of the number of competitors and even more difficult when it comes to the regulatory requirements. This means that it takes longer to develop products. But in the veterinary side, it much easier for a small company take place while the market is growing very fast, “says Anders Ingvarsson.
Rights issue to support global expansion
According to Anders Ingvarsson valued global veterinary market for LifeAssays systems have grown to over four billion years in 2018. the major companies that dominate in human health has certainly solutions that could be used also in veterinary care, but these are often larger and more unwieldy than LifeAssays products and companies have not yet received the eye of potential.
Anders Ingvarsson explains that this means that LifeAssays now have a unique opportunity to establish itself in the rapidly growing veterinary markets in eg Asia and the United States.
“When we started look at China a few years ago, there were a few thousand clinics and when we were established there in the middle of last year, it had grown to perhaps three to four thousand clinics. When I was there in the fall so they were up in six thousand clinics, “says Anders Ingvarsson.
As part of this international expansion plans LifeAssays therefore a new issue. The money is to be recorded will be used primarily to establishing distribution organizations both to sell and educate customers in LifeAssays products. last year alone succeeded LifeAssays, thanks to interest from Asia, also increase sales by over 20 percent. with this initiative, believes Anders Ingvarsson that the company this year will take even a large and important step forward.
“it will be a good year and we will have a sharp increase in sales in both the Nordic region and Asia, we are confident,” says Anders Ingvarsson.
For more information: www.lifeassays.com
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