Phase Holographic Imaging recently received its most significant order from Altium, comprising 20 HoloMonitor systems and additional components. This milestone aligns with the positive growth trajectory since the start of the year. PHI is also approaching the final exercise day of their TO 4 warrants on October 3, raising up to SEK 6.2 million before issue costs. BioStock reached out to CEO Patrik Eschricht for a comment.

Phase Holographic Imaging (PHI) specializes in time-lapse imaging products for cell research and long-term cell analysis. The HoloMonitor system utilizes Quantitative Phase Imaging (QPI) technology to assess cell culture quality and health without affecting or damaging the cells, unlike traditional measurement methods.

The collaboration with Altium

Over the past two years, PHI has refocused on regenerative medicine. This rapidly growing field aims to repair or replace damaged cells and tissues, with the immense potential to address currently incurable diseases. This strategic shift attracted attention in the life science sector, particularly from Altium, a private Swiss distributor and investment company.

Today, Altium is not only PHI’s largest shareholder but also its global distributor, while its CEO, Goran Dubravčić, serves as the Chairman of the Board. Read an interview with Dubravčić here, discussing the potential he sees in PHI.

The largest order to date

PHI recently announced an order from Altium for 20 HoloMonitor systems, doubling the order size compared to Q3 and Q4 2023/24, when ten systems were ordered. The agreement includes various configurations and add-ons that will affect the total order value.

“We are thrilled to continue building our partnership with Altium. Their expertise in distribution and life science is key to expanding our market reach. This latest order exemplifies the momentum we’re seeing, driven by the growing demand for non-invasive cell imaging solutions.”

The order follows a distribution agreement that PHI signed with Altium late last year, allowing Altium to market and sell PHI’s products. Since then, Altium has subcontracted various resellers and opened new markets for PHI across Eurasia and Europe. Patrik Eschricht highlighted the importance of Altium’s global distribution network in expanding PHI’s market footprint in a BioStock interview last year:

“Having Altium as a global distributor also enriches us with a trusted long-term partner. I see their vast network and industry expertise as a key to expanding our market footprint. This partnership allows PHI to focus on our strength: innovating with QPI technology – focusing on regenerative medicine applications.”

Growth initiatives and TO 4 warrants

PHI’s latest interim report highlights the company’s strategic efforts to expand its global sales network through its partnership with Altium. This expansion has temporarily impacted sales, with revenue declining to SEK 1.3 million in Q1 2024 from SEK 2.7 million in the same period last year. However, PHI sees these short-term effects as part of a larger plan to train and onboard new sales partners and expects this groundwork to drive growth later in the year.

Additionally, PHI is in the final days of the redemption period for series TO 4 warrants, which could raise up to SEK 6.2 million. The exercise period ends on October 3, representing another key step in supporting the company’s growth strategy, especially in the regenerative medicine market.

Comments from the CEO

BioStock talked to CEO Patrik Eschricht to learn more about the recent events and his visions for the upcoming year. 

Patrik, can you discuss the progress made in the last quarter?

– We focused on strategically expanding our global reach and solidifying our presence in key markets. Our partnership with Altium has been central to this effort, enabling us to focus on product innovation while Altium activates its extensive distribution network. We’ve made significant progress in entering new markets, such as Spain, Portugal, and the whole Nordics. We have also strengthened our collaborations with top-tier research institutions like University College London. Although these expansions have temporarily impacted our short-term revenue, they have laid a solid foundation for long-term growth.

You recently received the most significant order to date. Do you envision this trend continuing?

– Absolutely. The increased interest in our technology reflects the growing demand for cell-friendly and data-rich analysis solutions. Altium’s network has opened doors in several markets, and we are seeing increasing demand from new regions and industries. Our focus is to continue scaling our operations to meet this demand while ensuring that our distributors are well-trained and supported. As our global presence strengthens, we expect to see further sales growth.

In 2024, PHI partnered with University College London (UCL) and entered new markets through Altium and sales partnerships. Read more here. Can you expand on your growth plans?

– Our collaboration with UCL is a significant step in showcasing the potential of our HoloMonitor system in clinical research settings. Beyond that, we are actively working to expand into more markets through Altium and other partners. Our priority is to expand our product portfolio for regenerative medicine and the clinical market. Collaborations with experts and key opinion leaders allow us to align our product development efforts with market needs. Our goal is to enhance our technology to cater to a wider range of applications within cell quality control.

The current redemption of TO 4 warrants is another important step for PHI. Can you comment on your financial strategy?

– The TO 4 warrants, which can raise up to SEK 6.2 million, represent a strategic move to support our growth. These funds will help us expand our sales network and accelerate product development. Our focus remains on creating long-term value for our shareholders by increasing market presence, driving sustainable revenue growth and aligning our financial strategies with expansion plans. Our recent dual listing on the US OTCQB market opens new opportunities, particularly for our future in the regenerative medicine field, where we’ve already established a strong presence with partners like the Wake Forest Institute of Regenerative Medicine.

Finally – what are your visions for the upcoming year?

– We aim to solidify our role as a leader in non-invasive cell quality control technologies. Our focus will be on expanding market share and deepening academic and industry collaborations. We are also excited about further exploring the potential of AI use in data analysis and enhancing the capabilities of our QPI technology. Ultimately, we are positioning PHI to be a technology leader in regenerative medicine, with HoloMonitor as the go-to solution for both clinical and research applications.

Prenumerera på BioStocks nyhetsbrev