A strong first quarter for Bio-Works
Bio-Works Technologies. Update Q1-2022.
Today, Bio-Works Technologies AB reports sales for the first quarter of 2022—a strong quarter in line with the company’s plan. Product sales reached 6.0 MSEK, an increase of 135% as compared to the same period one year ago. Backlog increased to 8.4 MSEK, from 6.9 MSEK at the start of the year.
”We are very happy with our performance in Q1,” said Jonathan Royce, CEO at Bio-Works.
”Sales growth continues to increase according to plan and we have added new customers in the US, India and Europe during the past three months. Our backlog at the start of the second quarter puts in a very good position for the first half of 2022, and there is nothing which indicates that our momentum is going to slow during the second half.”
Bio-Works sales increased fastest in North America to 3.2 MSEK (0.2 MSEK) with new orders from Northern RNA, Catalent Pharma and a new process customer, KBI Biopharma. Asia also increased to 0.8 MSEK (0.3 MSEK), led by a new order from Reliance Life Sciences in India.
Agreements with new distributors in Ireland and Northern Ireland, as well as in France, have been reached during the quarter with Brennan & Co. and Ozyme SAS, respectively. These distributors increase Bio-Works’ reach and provide opportunities to build strong relations and to offer customers local support. Ireland and France are important markets in Europe, and there is good potential for Bio-Works to further increase its sales via these distribution agreements.
In February, Bio-Works’ quality management system was audited by Intertek, an external certification organization. In March, the company received an approval and re-certification, which means that the management system fulfills the requirements for the international standard ISO 9001:2015. The standard is a harmonized standard in the EU, and an approved certificate is evidence of the company’s ability to consistently deliver products which fulfill customer requirements and applicable legal standards.
During the second quarter, Bio-Works is planning for a new product launch to increase its offering of so-called “pre-packed” columns. These products are turnkey solutions for pharma companies who want to save time in production.
”The global market for prepacked columns is dominated by a few players and is plagued by long lead times coupled with a high customer demand. We believe that our launch is going to attract more new customers who will discover both Bio-Works as a supplier and our exceptional chromatography resins,” said Royce.
This disclosure contains information that Bio-Works Technologies AB 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 21-04-2022 07:24 CET.