Inhalation Sciences provides comments on the start of 2023
2023 has started in line with our expectations and we continue to see a steady inflow of inquiries from various biopharma customers and good progress in ongoing collaborations. We look forward to a spring and summer represented by a high-level of customer activity including several value-creating activities to continue our growth projectory.
The year has started off with a signed customer order of over SEK 900,000 from a new US customer who develops targeted antiviral therapies. This customer's first project will use ISAB's DissolvIt module to perform solubility tests, with the goal of reducing the risk of failure in later drug development.
A repeat US customer paid EUR 50,000 as a deposit in February to book a laboratory slot with ISAB for an inhalation R&D project due in April 2023. The same customer confirmed the entire order in March 2023 for ISAB's inhalation research services (IRS) which including the deposit of EUR 50,000 amounts to approximately EUR 118,000.
The month of March continued the same note with a signed order for an additional IRS project from a new client, a global generics company. This customer has an extensive experience and knowledge in conducting pharmacokinetics (PK), bioequivalence and solubility studies. The customer chose ISAB's simulated in vitro dissolution module DissolvIt because of its very high accuracy when testing generic formulations.
In April, it was furthermore announced that ISAB has completed all the necessary administrative procedures to commence the research project together with the US FDA's Center for Drug Evaluation and Research (CDER). ISAB expects, as previously announced, formal approval to start the experimental part of the planned study in the very near future.
“Overall, the year has started on plan, and we look forward with confidence to continue delivering in our contract research business (IRS) and the multiple customer projects. A well needed start to the year as we expand our business in line with our targets for 2023”, says Manoush Masarrat, CEO at Inhalation Sciences.
The formal Q1, 2023 reporting is scheduled for 31st May 2023.
