CEO Declares GBI’s Distribution Agreement With Beckman And Its 12 Months Outlook In AGM

  • Dec 14, 2018 AEDT
  • Team Kalkine
CEO Declares GBI’s Distribution Agreement With Beckman And Its 12 Months Outlook In AGM

On 14 December 2018, in the annual general meeting of Genera Biosystems Limited (ASX: GBI), the chief executive officer Mr. Richard Hannebery discloses its investors the corporate summary of GBI where he highlights information about its capital structure in FY2018, the board of directors, its substantial shareholders.

As on 30 June 2018, the market price of the share was A$0.16 with the market capitalization of $17.2 million. Through operating activities of the companies, there was a net cash outflow of $1.16 million as a result of which the cash available by the end of 30 June 2018 was A$0.02 million.

Mr. Lou Panaccio who is the non-executive chairman of the company, Mr. Richard Hannebery who is the CEO of the company, are the board members. Dr. Karl Poetter is the is the CSO and is also the founder of the company and Mr. Jim Kalokerinos who is the non-executive director of the company.

The substantial shareholders of the company include Mr. Graham Durbin who holds 11.5% share of the company, Mr. Richard Hannebery holds 11% of the shares and Dr. John Raff holds 7.5% of the total shares.

While giving an overview of the company, Mr. Richard Hannebery introduces a blockbuster product of Amgen CSF’s evolution at Genera pedigree/heritage Walter & Eliza Hall Institute in the year 2002. More than $33 million of investment done to date. Adding to this, he highlights that their technology is very relevant, and their multiplexing potential gives a cutting edge to the company regarding patent protection till the year 2028. The only drawback of the GBI’s business model is its user-friendly automated instrumentation platform which can be easily made available to the global market.

At present, the company is targeting a million-dollar market opportunity in MDx and is on the way to execute. Through its technology AmpaSand, the company has competitive positioning against a next-generation sequencing approach. AmpaSand returns higher throughput at a lower cost. Earlier GBI was linked with Standard Tech. Now it has only a single vendor Beckman Coulter Automation. There is an agreement between these two parties initial two years is non-exclusive where an option is given to renew for up to 5 years.

Through this Beckman Coulter Distribution Agreement, the primary target is towards targeted pathology customers using the instrumentation solution and applications. This agreement will enhance the customer relationships by influencing the existing customers of Beckman pathology. Thus, providing market support. Another advantage of this agreement will lead to the expansion in new territories.

Mr. Richard Hannebery also highlights the company’s multiple touch points with Danaher Corp which is a parent company of Beckman Coulter. He emphasizes that Global HPV market to go up by 3 to 5 times in the upcoming years, where he expects that infectious disease market size would generate around US$2,470 million. Here, the MDx demand will increase with the increase in infectious disease. The company is the leader in case of full high-risk HPV genotypes.

The company has its short-term focus to strengthen its financials through sales or partnership. Also, in the coming 12 months, it will launch a new i5 automation system with PapType ‘reflex’ by the end of Q1, 2019, get licensing agreements in the US and Canada for PapType. By Q3 CY2019, the company will launch the STIplex test on the i5 system and get licensing agreement in China. It will also launch RUO in Q3 CY2019 in India. By Q1 CY2020, the company will launch RUO in China and Brazil. At present, the trading of securities is in suspended status.


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