The period in summary
First quarter, January-March 2022
The Company received a strategically important order in January 2022 from a global life science company
A new Product Manager joined Polymer Factory on February 1, 2022
An incentive program for key personnel was implemented
(KSEK) Jan-Mar 2022 Jan-Mar 2021
Net sales 451 783
Profit (loss) for the period -1,052 -677
Total assets 10,506 15,410
Equity / assets ratio (%) 91 83
Cash flow for the period -1,415 662
Basic earnings per share (SEK) -0.15 -0.10
Comments from CEO Elin Mignérus
Q1 2022 has been an intense quarter from several perspectives. While the world has seen drastic happenings, ranging from ups and downs in Covid to an unstable security situation, Polymer Factory has continued to build the company by expanding the team and building customer relationships. We are enthusiastic about the rest of 2022 and our ongoing and future collaborations.
The start of 2022 has been minted by the ongoing situation in the world. I cannot start this CEO comment in any other way but by mentioning the invasion of Ukraine, both to extend our outmost support for all individuals affected by the war, but also because the effects of the war reach us all. 2022 has so far been a challenging time on the stock market for all small companies, but I want to ensure all our owners that me and the Board have a strong belief in our company – our people work hard every day to make it a success!
During this quarter, we have welcomed a new Product Manager who have taken over responsibility for the segments Hyperbranched polymers and Dendritic Nanogels (DNGs). Development and commercial launch of DNGs is one of Polymer Factory’s goals for 2022, and we look forward to keeping the market updated on the availability of this exciting technology that have great potential! DNGs are a great addition to Polymer Factory’s current technology platforms and is a natural extension in our drug delivery technology offering, as we are adding an encapsulation technology that can be used in additional drug delivery applications.
In January, the Company received an order of significant size, when a global life science company placed a customized order from Polymer Factory’s dendrimer platform. The order was successfully delivered in March and will be evaluated by the customer in Q2. Orders like this are of strategic importance for Polymer Factory; since we work in industries with long lead times and many evaluation steps, each new product for evaluation can be a potential long-term relationship. as the customers evaluate the technology for their unique application, but it is the final success of the technology implementation that will bring the most valuable business to Polymer Factory.
In Q1 2022, we have continued to build the organization and engaged in activities all from a long-term perspective. As previously mentioned, we know that building the right relationships and engaging in the right projects are key to success in our industry, and a lot of focus has been put on approaching attractive prospects as well as nourishing our existing customer relationships. Revenues from different accounts and pipelines may vary from quarter to quarter as the customers evaluate the technology for their unique application, but Polymer Factory are ready to support all our customers as they approach the next steps.
During this quarter, we have seen returning customers across different industries; pharma, biotech, and mass spectrometry among others. Examples of applications of returning customers include vaccine development, mass spectrometry assays, biotechnology analysis and sequencing, pharmaceuticals and more.
The fact that we see global, world-class businesses returning to Polymer Factory and our products confirms the value of our core technology and its potential - this is what we are building on in 2022!
Find the Interim report HERE
About Polymer Factory
Polymer Factory was founded in 2006 at KTH Royal Institute of Technology and its Board of Directors have been essential in driving dendritic nanotechnology research to commercialization for almost 15 years – expertise that has been transferred to the Company’s products. Emerging from many years of cutting-edge research within the field, Polymer Factory today has, in the Company’s assessment, the world’s largest product portfolio of dendritic materials with customers ranging from Big Pharma, MedTech and BioTech companies, to research-intensive institutes and academic research groups. Polymer Factory has also used the Company’s vast knowledge and expertise to develop a patented calibration technology, named SpheriCal®, designed for Mass Spectrometry instruments.
For more information, please contact:
Elin Mignérus, CEO
Phone: +46 (0) 79 300 27 76
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 10 May 2022.
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