I have never had a desire to post on HC, however it may be timely toprovide some perspective, and to reaffirm the foundation that has been laid.
Firstly, in trying to evaluate what concerns a lab could potentially havein their (buying) decision making process, it is only upon reflection on whathas been achieved in the past 6 months that provides reassurance that thosepotential concerns/ pain points have now been alleviated - allowing forgreater adoption.
1.Credibility – How well does the instrument work? TheJohns Hopkins evaluation (July) was the most credible source to date and showednot only does it work, it is more accurate than their own expertmicrobiologists. Added to this Beckman Coulter interrogated its capability for12+ months and have now put their name to it.
2.Laboratory Information System (LIS) integration – howdoes the APAS connect? The DI Middleware Driver was recently released (June)which now provides connection with a labs LIS system, and allows for greaterefficiency to be achieved.
3.Serviceability - Who would service the instrument if apurchase was made? The Oneservice (Service Provider) agreement was finalised inJuly. Labs now have the confidence that local resources and expertise isavailable to them and not reliant on support from Australia.
Further to this:
The US Sales Executive (previously Johnson & Johnson, and BeckmanCoulter) joined in January, whilst the EU Sales Executive (who spent 21 yearsat Thermo Fisher) has been building potential sales for the past 18 months. Thereare a number of labs that have trialled the APAS (none of which have decidednot to progress) and one of which was a lab chain in Germany. The strategy totarget lab chains is significant in that it potentially provides formultiple sales with the one customer.
Dr Hilmar Wisplinghoff is a key opinion leader for the APAS. Thatrelationship is now 2+ years in and he continues to partner with LBT not onlyas a reference site, but on the development of future analysis modules(currently working on the AST module). He runs one of the largest labs inEurope – one wouldn’t expect Dr Wisplinghoff to exert his energy if he didn’t seesomething special in the APAS technology.
Johns Hopkins, one of the most reputable hospitals and medical schools in the world has evaluated the APAS technology and shown not onlydoes it work, it is more accurate than their own microbiologists. Also ofinterest is that the relationship will continue. Theyhaven’t evaluated the technology and sent us on our way, but rather, there willbe a continued relationship with the globally respected organisation that isJohns Hopkins.
Beckman Coulter, which is part of the Danaher Corporation, has taken onthe APAS as part of their product suite. Irrespective of whether that is adistribution or marketing partnership, it is Beckman Coulter. There may be no onebetter you would want to promote the product. From what a search of Linkedinindicates, there are some key people within the organisation that are excitedabout the partnership and the APAS technology.
Sonic Healthcare has taken an APAS and currently evaluating at theHealth Services Laboratories (HLS) Halo site in London – this is Sonic’sflagship UK base. That site alone has 2 x BD Kiestra (at circa $2.5m each) and5 x MALDI-TOF instruments, whilst Sonic Healthcare have 60 x sites across theUK alone. It should not be underestimated what a partnership with SonicHealthcare could mean.
Training is being delivered to Beckman Coulter’s Sales Teams at Hilmar’slab in Germany. Whilst the exact number is unconfirmed there is significantlygreater execution potential with having (potentially) 15-20 Beckman CoulterSalespeople across Europe promoting the APAS technology. Added to this, LBT/Beckman Coulter are set to (if they haven’t already) conduct their first faceto face joint customer promotion this quarter.
The MRSA Module is set for FDA approval in the fourth quarter of thisyear, followed by the VRE module currently in clinical trial. Within 6 months APAS is forecast to have 3 x Analysis Modules (Urine, MRSA, VRE) FDAapproved/ in approval process.
There is no other period in the company’s past that can be compared towhere it stands now.
As always, please DYOR and GLTAH
Jan-20
US Sales Executive appointed (previously Johnson & Johnson, and Beckman Coulter)
1 Mar-20
VRE (Analysis Module) - Clinical Study Commenced
2 Jun-20
1st US Sale
3 Jun-20
DI middlewear driver completed
4 Jun-20
John Hopkins Whitepaper
5 Jul-20
Beckman Coulter partnership announced
6 Jul-20
Capital Raising (raised $8m) with now $15m in cash
7 Jul-20
Oneservice appointed Service Provider
8 Jul-20
Health Services Laboratory (UK) APAS placement with Sonic Healthcare
9 Jul-20
AST (Analysis Module) given to Hilmar Wisplinghoff to provide his expertise in its development
