The period in summary
Fourth quarter, October-December 2022
The Company received a certification according to ISO 13485 for its quality management system
The Company launched a new product series, Dendritic Nanogels (DNG)
Net sales for the period amounted to KSEK 1,101 (759), an increase with 45% compared to the same period 2021
Full year, January-December 2022
The Company has received several important follow-up orders from customers evaluating the technology, with potential for long-term projects
An incentive program for key personnel was implemented and announced
The Company received an order for a customized SpheriCal® ESI - a step towards launching SpheriCal® for additional MS techniques
(KSEK) Oct-Dec Oct-Dec Jan-Dec Jan-Dec 2022 2021 2022 2021
Net sales 1,101 759 2,912 2,561
Profit (loss) for the period -699 -846 -2,870 -3,378
Total assets - - 8,843 11,411
Equity / assets ratio (%) - - 91 93
Cash flow for the period -803 -337 -4,470 6,110
Basic earnings per share (SEK) -0.10 -0.12 -0.42 -0.49
Comments from CEO Elin Mignérus
We are closing Q4 and the full year 2022 on a positive note, with increased revenues and interesting business projects. 2022 has seen the fulfillment of several milestones, both from a technical and organizational point of view; this momentum is something we look forward to continuing in the new year.
Q4 has been a busy quarter for Polymer Factory, where we have seen several fulfilled objectives and interesting projects. We have continued to build on activities started earlier in the year and were thereby able to increase our net sales compared to 2021 for the second consecutive quarter. This relates to several important customer projects, both follow-up orders building on existing customer relationships as well as new customers who are turning to Polymer Factory to solve their challenges. One example of the latter is the material transfer agreement we signed with a big pharma in October, which is an exciting opportunity for the Company. Projects like these are the first steps to building long-term relationships and are building foundations for potential future agreements.
In late Q4, we were very happy to announce that the Company received the certification for its quality management system (QMS) according to ISO13485, which is an internationally recognized standard. The team have worked on the implementation of this QMS during 2022, and reaching the certification is a huge milestone for the Company and something that we are proud to have achieved. Having this certification is a requirement for Polymer Factory to become a long-term supplier to established life science companies, and something that is requested among our customers.
On the product development side, we achieved yet another objective for 2022 by launching our newest platform Dendritic Nanogels (DNG) in December. This is foregone by a lot of hard work in developing this unique platform, which is intended to be a competitor to other encapsulating drug delivery systems, such as lipid nanoparticles (LNPs) that are used in several applications, such as Covid vaccines. In parallel to the technical development, we are continuing the process of protecting the DNG technology through pending patents in several geographies to strengthen our position relating to both technology and IPR.
In January 2023, the Board of Directors resolved on a rights issue of shares, subject to approval of an Extra General Meeting. While liquidity is good, something that was reinforced through a grant payment of approx. KSEK 1,800 in January*, we see this as an opportunity to further strengthen the Company’s finances for our continued journey of growth. We welcome all shareholders to take part in this rights issue and look forward to continuing our journey together with you.
Closing 2022, we look back at a year that has provided many positive events and indications for Polymer Factory, from seeing several returning customers pushing their development forward with help from our products to achieving objectives set out for the year. We enter the new year with excitement and look forward to taking on 2023!
* Read more under Events during Q4
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 February 2023.
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