Genomtec is a medical technology company focusing on clinical diagnostics. It was founded in 2016 in Wroclaw, with a vision of international expansion based on a unique mobile genetic diagnostics platform that uses patented contactless heating and detection system. The company, which was formed by a group of scientists with expertise in the area of molecular biology, as well as microsystems and photonics, is headquartered and has its laboratories in Wroclaw. Genomtec also has an office in the UK, where a part of the international research and engineering team is located.
Genomtec S.A.’s business primarily involves conducting research and development work, as well as commercialization of its proprietary optical systems and the isothermal method of nucleic acid amplification leading to development of innovative products in molecular diagnostics.
The company’s flagship project is Genomtec ID. Its development and commercialization will enable the diagnostic process to be conducted in point of care, such as outpatient clinics, pharmacies, doctors’ surgeries, and hospital emergency wards (A&E), without the need for complicated and time-consuming laboratory handling provided by qualified personnel. The unique features of Genomtec ID include the analyser to be of a compact size, with low energy consumption, and the shortest time of assaying, the wide spectrum and high level of accuracy of the analysis, as well as affordability for clients. All these features of the Genomtec ID will put it in a leading position among the genetic diagnostic devices currently available on the global market.
Another area of the Genomtec team’s activity is the development and market adoption of laboratory tests, among other things, used for detecting viral-based infectious diseases. The company is currently providing solutions for the urgent needs in the battle against the COVID-19 pandemic, caused by the SARS-CoV-2 virus.
WROCŁAWSKI PARKU BIZNESU 3
ul. Bierutowska 57-59
Office and laboratory:
WROCŁAWSKI PARKU BIZNESU 3
ul. Bierutowska 57-59
The company is registered in the register of entrepreneurs of the National Court Register under the number 0000662554, registration court: District Court for Wroclaw-Fabryczna in Wroclaw, 6th Commercial Division of the National Court Register.
Tax Identification Number (NIP): 8992809452,
REGON statistical number: 365935587
Share capital: PLN 815,854.00
INC S.A., with registered office in Poznanul. Krasinskiego 16, 60-830 Poznan, which entered into the National Court Register kept by the District Court for Poznan Nowe Miasto-Wilda in Poznan, 7th Commercial Division of the National Court Register under the registration no. 0000028098, Tax Identification Number (NIP): 7781024498.
Genomtec is constantly analysing the opportunities offered by the market and is striving to commercialize and sell products to maximize shareholder value and enable its stable development
Ring-fencing of the technology by patent applications and granted patents, therefore building an intellectual value of the innovation developed by the company.
Genomtec’s technology is protected by a range of patents and patent applications related to the Genomtec’s ID diagnostic platform itself, as well as the molecular biology.
The forecast for molecular diagnostics market is to grow significantly in 2020–2021 fuelled by the COVID-19 pandemic, however, it is expected to slow down in the following years, with its market growth rate at approximately 5% per year.
Source: Global Molecular Diagnostics Market: Insights & Forecast with Potential Impact of COVID-19 (2020–2024). The data presented is a forecast and is not a guarantee that the market will achieve the specified values in the future.
The COVID-19 pandemic created a momentum of both increased demand for effective and rapid tests, and also an increased awareness for the need of Point of Care Testing (POCT). The diagnosis of infectious diseases is the largest application area for molecular diagnostics.
Isothermal methods (e.g. LAMP) are receiving every more attention because of their advantages over the existing solutions (mobility, simple operability and cost).
Source: Global Molecular Diagnostics Market: Insights & Forecast with Potential Impact of COVID-19 (2020–2024).
Miron is the co-founder of Genomtec S.A. and its CEO. He is also a laboratory diagnostician. He graduated from the Faculty of Pharmacy with a Division of Medical Analytics at the Medical University of Wrocław. He received the title of Doctor of Medical Sciences in the field of molecular biology in December 2021 at the Medical University of Wrocław.
Author of a number of scientific publications and the co-author of Genomtec patents. Ambitious and young, but already an experienced scientist. He has won a number of awards and honors for his master’s thesis. Head of a research project for the National Science Center.
At Genomtec, in addition to managing the company, Miron actively participates in R&D in the field of molecular biology in the area of infectious diseases.
Michał has over 14 years of experience in the area of corporate finance, investment management and business consulting. Before joining the team, he was an investment director in an actively investing Venture Capital fund. Previously, he was a member of the Management Board of a medium-sized production company in the energy sector and Vice President, Finance in a start-up in the chemical industry. He has advised on a number of transactions in the field of investments, mergers and acquisitions, as well as restructuring processes. Previously, he held operational positions at ARP, TFS, Deloitte, Polimex-Mostostal and Central Europe Trust. He holds a Master’s degree from the Warsaw School of Economics in the field of Finance and Banking and has completed postgraduate studies in Information Technology Transfer to Enterprises.
At Genomtec, he is responsible for the company’s finances.
Charudutt is a senior executive with many years of international experience, incl. in the area of business development, marketing and sales management and strategic planning in the clinical genetic diagnosis sector. He will start work at Genomtec on August 1, 2021. He has several years of leadership experience in the area of product commercialization, brand development and partnership with international entities. A major focus of his efforts are in developing go to market strategies, driving clinician awareness, market access and bringing innovative testing solutions to various healthcare ecosystems to improve patient care.
Charudutt is a graduate of the University of Toronto and holds both a Bachelors of Applied Science and Engineering degree as well as a Masters of Biotechnology and Management degree. He also holds a certificate of Alliance Management from the Canadian Healthcare Licensing Association.
Managing partner of the Leonarto VC fund.
The creator of the largest network of medical laboratories in Poland – Diagnostyka sp.z o.o.
Managing the Polish office of CVC Capital Partners – a world leader in private equity investment funds.
Director of the Veterinary Institute at the University of Life Sciences in Poznań and associated with Vet Planet sp.z o.o.
He is currently managing partner at KnowledgeHub Starter. Previously associated with companies in the hi-tech sector.
Doctor, forensic specialist, academic teacher, expert witness – a representative of a scientific institution in the field of forensic medicine and medical law. For many years head of the Department of Medical Law, then the Chair and Department of Forensic Medicine at the Medical University of Wrocław.
A graduate of medicine from the Medical University of Lublin, whereas his PhD obtained from the Instytu Centrum Zdrowia Matki Polki in Łódź, winning the Prime Minister’s Award. He was a scholarship holder of the Polish Science Foundation. He also graduated in biology and immunology from Victoria University in Canada and did a post-doc at Northwestern University Medical School in Chicago. He is the author or co-author of over 100 scientific publications. For the last four years, he was the President of AstraZeneca Pharma Poland, and before that he worked for Abbott and AbbVie in Poland, Belgium and Luxembourg (Director General), Novartis Pharma Polska (Head of commercial operations and Director of the innovative drugs department) and also managed the company’s branch in the Baltics. In 2002-2006, he worked for McKinsey & Company, advising clients from the life sciences industry in the USA, France, Belgium and Great Britain.
Eric Garnier has an experience of around 35 years in healthcare businesses, including 12 years of expatriation in the UK, Asia and the US. During this period, Eric has occupied key positions with increasing responsibilities in two American multinational Life Sciences companies i.e., Bristol-Myers Squibb and Pall Corporation (a Danaher company).
Eric started in finance and has had several management roles in France and in the UK as European Finance Director in Bristol-Myers Squibb. He subsequently moved to general management leadership positions as General Manager France, Regional VP South Europe and then President of the AsiaPac region for Pall, a $800M business, based in Singapore. In his last role with Pall Eric was Vice President and GM of the global Medical BU based in Boston.
After having relocated back to France in 2018 Eric has set up his own consultancy business specializing in healthcare. He is also a member of the board of Angels Santé, has invested in more than 20 start-ups and is a board member in a few of these. Eric has an MBA from Institut Superieur de Gestion (Paris).
Krishnendu Chakrabarty received the B. Tech. degree from the Indian Institute of Technology, Kharagpur, in 1990, and the M.S.E. and Ph.D. degrees from the University of Michigan, Ann Arbor, in 1992 and 1995, respectively. He is now the John Cocke Distinguished Professor and Department Chair of Electrical and Computer Engineering (ECE), and Professor of Computer Science, at Duke University. He has held Visiting Professor positions and Chair Professorships at University of Tokyo (Japan), University of Bremen (Germany), Tsinghua University (China), National Tsinghua University (Taiwan) and National Cheng-Kung University (Taiwan). He has been awarded with multiple awards and scholarships all over the globe.
Prof. Chakrabarty’s current research projects include: design-for-testability of integrated circuits and systems (especially 3D integration and system-on-chip); microfluidic biochips; hardware security; machine learning for fault diagnosis, failure prediction, healthcare, and biochemical analysis; neuromorphic computing systems. His research has been supported by the National Science Foundation, DARPA, Office of Naval Research, National Institutes of Health, Army Research Office, Semiconductor Research Corporation, and directly by companies such as Intel, Cisco, and HP. He has published 26 books (with one book translated into Chinese) and over 800 peer-reviewed papers on these topics. He holds 18 US patents (with) two patents pending) and his research on microfluidic biochips has been licensed by Advanced Liquid Logic, Illumina, GenMark, and Baebies Inc. His test technology solutions have been adopted by Intel, TSMC, Samsung, Mentor Graphics (now part of Siemens), and Qualcomm. He has supervised 36 PhD dissertations.
Prof. Chakrabarty is a Fellow of ACM, a Fellow of IEEE, a Fellow of AAAS, a Golden Core Member of the IEEE Computer Society, and a Senior Member of the National Academy of Inventors. He was a Distinguished Visitor of the IEEE Computer Society (2005-2007, 2010-2012), a Distinguished Lecturer of the IEEE Circuits and Systems Society (2006-2007, 2012-2013), and an ACM Distinguished Speaker (2008-2016). Prof. Chakrabarty served as the Editor-in-Chief of IEEE Design & Test of Computers during 2010-2012, ACM Journal on Emerging Technologies in Computing Systems during 2010-2015, and IEEE Transactions on VLSI Systems during 2015-2018. He is an Associate Editor of IEEE Transactions on Biomedical Circuits and Systems. He has served in the past as an Associate Editor of IEEE Transactions on Computers, IEEE Transactions on Multiscale Computing Systems, IEEE Transactions on Computer-Aided Design of Integrated Circuits and Systems, ACM Transactions on Design Automation of Electronic Systems, IEEE Transactions on Circuits and Systems I, and IEEE Transactions on Circuits and Systems II. He has also served as General Co-Chair (2014, 2019) and Program Co-Chair (2005) of the IEEE Asian Test Symposium.
|Selected financial data in PLN||2018||2019||Q3 2020||Q4 2020||Q1 2021||Q2 2021||Q3 2021|
|Net sales revenues||11 437||152 716||9 938||10 409
|Gross profit (loss)||-1 246 225||2 919 163||-3 405 085||-1 914 665
||-2 145 011,55
||-2 345 081,34
||-1 304 854,90
|Profit (loss) before tax||-742 713||-1 619 237||-953 177||-806 297
||-1 760 937,85
||-1 212 479,43
|Profit (loss) after tax||-742 713||-1 619 237||-953 177||-806 297
||-1 765 058,11
|Depreciation and amortization||45 734||103 919||103 369||56 242
|Net operating cash flow||-1 199 824||-3 207 369
||-3 311 468||– 2 756 489
||-2 051 578,25
||-2 159 430,80
||-1 574 237,01
|Net investing cash flow||-30 000||-18 300||50 819||0
|Net financing cash flow||806 551||4 308 408
||2 745 181||9 145 772
||1 080 631,20
|Shareholders’ equity||432 373||941 467||671 260||7 393 552
||6 067 530,26
||4 967 457,37
||4 019 911,28
|Current liabilities||41 093||966 006||22 114||678 101
||1 254 496,55
||1 373 929,95
||1 068 816,01
|Long-term liabilities||0||0||250 000||0
|Cash and other monetary assets||341 090||1 422 968||907 500||7 301 447
||5 591 102,39
||4 337 840,79
||2 678 197,88
|Current receivables||60 344||292 236
||275 302||407 257
|Number of shares||5 812 430||5 888 430||7 428 540||8 158 540
||8 158 540
||8 158 540
||8 158 540
Statutory auditors auditing Genomtec S.A.’s financial statements:
Charudutt Shah appointed by Supervisory Board to join Genomtec Management Board starting August 1st, 2021.
Participation in person in Arab Health Show in Dubai, UAE.
Launch of newly registered in EU, the world’s first genetic diagnostic test for the detection of SARS-CoV-2 directly from a saliva sample Genomtec® RT-LAMP Direct Kit.
Genomtec successfully co-organizes science and educational conference: “New technologies in the laboratory of the COVID-19 pandemic” with 430 participants and 708 registered diagnosticians to promote RT-LAMP technology.
Designating 17 March 2021 as the first day of listing Genomtec SA shares on the NewConnect stock exchange trading floor.
Introduction of Genomtec shares to the alternative trading system on the NewConnect market pursuant to a resolution of the Warsaw Stock Exchange. As previously announced by the Company, the debut will take place in the first quarter of this year and is planned for March.
Krzysztof Krawczyk, Head of the Polish branch of CVC Capital Partners – a global leader in the private equity industry – joins Genomtec’s Supervisory Board. He is joined by Krzysztof Dębowski, who has worked for many companies in the hi-tech sector, and currently serves as the managing partner at KnowledgeHub Starter – one of the leading venture capital funds in Poland.
Genomtec took third place in the 2020 “Maker in China” competition, directly supported by the China-CEEC SME Research Institute Government Organisation, in which over 300 companies from Central and Eastern Europe and China compete.
Genomtec took second place in the 4th edition of the international competition “China Shenzhen Innovation & Entrepreneurship” for its Genomtec ID product beating over 1,000 other projects. The company received a cash prize of almost PLN 400,000 (RMB 650,000).
Genomtec produces first 5 prototypes of Genomtec ID. The complete prototype allows conducting required tests for the reaction card, to optimize thermal parameters and to reduce the time of individual stages during result processing. The team is also working on developing the service and user interface software, as well as an algorithm for repeatable and reliable handling of the final version of the reaction card with improved fluid flow rate. The work also involves optimization of the optical system for fluorescence detection, which was parameterized for reliable detection of spectral emission specific for the dye used. Further work will include verification of optical filters to obtain the best fluorescence signal-to-noise ratio.
Genomtec introduces a new product to the market, a two gene test for SARS-CoV-2 detection using RT-LAMP technology, CE-IVD labelled for sales throughout the EU. In-house analyses confirmed the effectiveness of the test for detecting new SARS-CoV-2 variants, i.e. British, South African and Brazilian variants, with mutations that can affect the efficacy of the genetic tests that are currently available on the market.
The company successfully placed all of its 730,000 shares on offer as part of its IPO, and obtained over PLN 8 million, which the company will allocate to the Genomtec ID platform, its preparation for marketing and mass production. The offer went to institutional and individual investors. The interest of investors significantly exceeds the number of shares that the Company could allot to them.
Patent application filed with the Patent Office of the Republic of Poland for Chlamydia trachomatis diagnostic kit: “A set of primers, reagent composition and a method for detection of atypical bacteria”.
Commencement of the historical, first public offering through which Genomtec plans to raise PLN 8 million for the further development of its flagship project, Genomtec ID.
The company receives the Money.pl Economic Award for the best technology of 2020.
Genomtec is granted a patent by the American Patent Office for the invention entitled “Method of detecting genetic material in a biological sample and a device for its implementation”.
Appointment to the Board of Michał Wachowski as Chief Financial Officer. Before joining the team, Michał was the investment director of the VC fund. A graduate of the Warsaw School of Economics in the field of Finance and Banking.
Appointment to the Board of Jarek Oleszczuk, former president of the board of the Polish branch of the global pharmaceutical company Astra Zeneca, and previously the general director of Abbott Laboratories Polska. As Chief Business Officer (CBO), Jarek is responsible for the further development and implementation of the company’s business strategy.
Genomtec receives nearly PLN 7 million (EUR 1.6 million) of funding from the National Centre for Research and Development (NCBiR) for its flagship project – a mobile molecular diagnostics system – Genomtec ID, which will be able to detect, among others, COVID-19 within 15 minutes. Genomtec was among the eight finalists of the competition, which were awarded co-financing under the 2014-2020 Smart Growth Operational Program, measure 1.1 under sub-measure 1.1.1 “Fast Track”. The total value of the project “Development of mobile diagnostic equipment for COVID-19 detection” amounts to almost PLN 11 million net (approx. EUR 2.4 million), including PLN 7 million (EUR 1.6 million) in funding from the National Centre for Research and Development.
Obtaining a certificate of free sale (number 434/2020) from URPLiMB (Office for Registration of Medicinal Products, Medical Devices and Biocidal Products), for the diagnostic kit Genomtec® SARS-CoV-2 RT-LAMP/N CE-IVD Laboratory Kit. The certificate of free sale is issued for a product labelled with CE (it is the manufacturer’s declaration that the product that has been placed on the market meets the essential requirements, as well as legal regulations, quality and safety standards regarding this product) and reported to the President of the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products in order to facilitate export. The document confirms that the product indicated therein, on the date of issuing the certificate, is or could have been marketed and used within the territory of the Republic of Poland.
Conclusion of a non-exclusive commercial cooperation agreement with Synektik S.A. concerning the distribution of SARS-CoV-2 tests developed by the Company in Poland. After the end of the initial period, i.e. 30 November, 2020, the terms of the contract negotiated by that time will enter into force, specifying the rules for further cooperation. The Agreement allows for the expansion of sales channels in Poland for the Company’s product lines, laboratory tests, and introduces active marketing of GNT (SNAAT®) technology in all channels used by Synektik S.A.
Obtaining patent protection on the territory of Poland for a patent application entitled “Method of detecting genetic material in a biological sample and a device for its implementation”.
Signing a conditional agreement with the UK-based CDMO company for the production of the Genomtec ID analyzer.
Obtaining the consent of the USPTO expert to receive a patent for the invention entitled “Method of detecting genetic material in a biological sample and a device for its implementation” in the USA, which is a significant step towards obtaining patent protection.
Filing two patent applications in the area of molecular biology under the name “Diagnostic Primers, Kits and Methods for Viral Detection” with the British Patent Office.
Filing an application with the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products for an invention entitled “Mycoplasma pneumoniae bacteria detection primer sets, Mycoplasma pneumoaniae infection detection method, Mycoplasma pneumoniae detection primer kit application” regarding small bacteria causing respiratory infections.
Patent application filed for a kit used in diagnosis of selected, most oncogenic human papillomavirus types: HPV 16 and HPV 18 (a virus responsible for cancer development, transmitted mainly during sexual intercourse or a direct contact with the skin of a virus carrier).
Genomtec signs a letter of intent with Astra Zeneca Pharma Poland concerning possibilities of commercial applications of the Company’s technology for diagnostics and personalized treatment of patients with non-small-cell lung carcinoma (NSCLC). It is one of the two main types of lung cancer, responsible for approx. 80% of cases.
Another patent application filed with the Patent Office of the Republic of Poland “Kit for contactless temperature control, method for generating electromagnetic radiation wavefronts and kit’s application for generating temperature field profiles” regarding the method of using electromagnetic waves for contactless heating, which has a broad range of industrial applications. Currently, the application is being processed at the EUIPO and local patent offices in China, Japan and USA.
Filing the first patent application in the field of molecular biology called “Primer kit for the detection of Borrelia burgdorferi, a method for the detection and diagnosis of Borrelia burgdorferi using a primer kit and kit for the detection of Borrelia burgdorferi” for bacteria that cause Lyme disease.
Filing a key patent application with the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products under the name “Method of detecting genetic material in a biological sample and a device for its implementation”. Patent proceedings are pending at EUIPO and local patent offices in Canada, China, Japan and Brazil.