Strong sales growth Q1 2020

Bio-Works shows strong sales growth during Q1 2020

Bio-Works Technologies increases sales by 230 percent to MSEK 2.0 for Q1 2020 and sees good financial sustainability despite the ongoing Covid-19 crisis.

Bio-Works can see a strong increase in demand from the company’s customers in the late scale-up phase and production during the first quarter of 2020. This is a development that is fully in line with the company’s long-term strategy and sales work.

 “We are very pleased with the company’s sales during the first quarter of the year, the quarter when we normally experience the lowest customer activity. Despite good sales figures, it is important that we remain cautious about company costs in view of the uncertainty surrounding Covid-19. The company has therefore taken a number of savings measures with the aim of ensuring the security of our cash while maintaining our main focus, which is increased sales”, says Mats Johnson, CEO Bio-Works Technologies.

Bio-Works has an on-going savings program in place that involves cutting costs that do not directly support the sales plan. This way the company ensures financial stability for at least 18 months.

Like many other actors, Bio-Works is now negotiating the hurdles of travel restrictions and restrictions on physical meetings that apply in connection with the Covid-19 crisis. Since Bio-Works has already established effective communication with a large number of customers and projects, the company’s assessment is that the crisis will have a limited impact on the company’s sales during the year.

For more information: www.bio-works.com or contact Mats Johnson, CEO of Bio-Works, e-mail: mats.johnson@bio-works.com, telephone: +46 70 516 53 37.

This information is such that Bio-Works Technologies AB is obliged to disclose in accordance with the EU Market Abuse Regulation (MAR). The information was made available for publication by the above contact person on April 3, 2020 at 08:30 CEST.

Download the press release

We continue to serve

COVID-19 update from Bio-Works

Times are at present difficult and challenging, but Bio-Works want to assure everyone that we stay committed to keeping you informed about our efforts to ensure uninterrupted operations and support to our customers.

Below we have tried to address some questions that may come up concerning our product and services, but if you have any issue that is not addressed please contact us at our Sweden head office via info@bio-works.com or Email your regular contact person at Bio-Works.

Bio-Works is taking measures to minimize spread

Maintaining customer support

  • Bio-Works is fully operational, and all functions are manned either from the headquarters or through remote operation.
  • Customer support is working as normal, please address your normal contact person or contact us at info@bio-works.com.

Product deliveries

  • Bio-Works is working closely with freight carriers in our logistics network. So far we see and hear no major hurdles in shipping our products, although minor delays can happen.
  • The company is mitigating risk with availability of raw materials and intermediates by carefully managing the stock levels and assessing alternative sources.
  • We continuously monitor the situation and will implement measures as needed.

Bio-Works products are used in many important pharmaceutical processes, including vaccine production, so we will stay focused, with a high sense of urgency, to ensure that there is minimal impact for our customers and that they receive all the support needed.

The Bio-Works Team

New CEO for Bio-Works

New CEO for Bio-Works

The Board of Directors of Bio-Works Technologies AB has decided to appoint Jonathan Royce as the new CEO of the Company. He will take up the position no later than August 1, 2020.

Jonathan most recently comes from Vironova AB where he is currently responsible for the Instruments Business Unit. Jonathan moved to Sweden in 2011 but was born and raised in New Hampshire USA. He began his career at Millipore in 1999 and joined GE Life Sciences in Westborough in 2007. He has held several positions in GE’s bioprocess segment.

“In my opinion, Jonathan is a perfect leader for Bio-Works, a strong, energetic and driven character with broad experience in filtration and chromatography from the world’s two leading companies in the field. Jonathan has a large network that will be invaluable to us, I am very pleased with this recruitment, ”says Peter Ehrenheim, Chairman of Bio-Works Technologies.

Peter Ehrenheim: “At the same time, the Board of Directors and I would like to thank Mats Johnson who has put Bio-Works onto the right strategic track and initiated the commercialization of our unique product portfolio. Mats has been an important key person in putting the company’s structure and platform in place. Now we are setting out on the next step in Bio-Works development ”.

For more information, please visit Bio-Works website, www.bio-works.com or contact Chairman Peter Ehrenheim +4670 6675711 (peter@farjsundet.se).

PR BIOWKS new CEO 20200323

Bio-Works signs three year supply agreement

Press release March 18, 2020

Bio-Works has signed a three-year supply agreement with a customer in Eastern Europe.


Bio-Works Technologies has signed a supply agreement with one of its production customers in Eastern Europe. The agreement runs for three years with a total order value of a minimum of 238 k€ over the period until 2022.

In recent years Bio-Works has succesfully expanded its presence in the Eastern European region and has several customers that purchase purification resins on a regular basis for their production.

Previously we have received regular orders from this particular customer and they now wish to secure their longer term supply with this agreement covering quarterly supply over three years.  This is the first agreement of its kind for Bio-Works that is valid for several years and is an example of how we develop long term relationships with our customers and build their confidence in Bio-Works products.

Bio-Works’ third generation proprietary agarose resins, WorkBeads™, are specifically developed with commercial scale manufacturing of valuable biomolecules in mind. The growing requests for multi-year agreements underpins the strategic relevance, performance and need for our products in this market. The agreement validates our strategy to establish an early project relationship with our customers and thus generating long term, secure, regular and increasing cash flow from customers as they scale-up their production.

“Bio-Works‘ goal is to be a strong alternative for biopharmaceutical manufacturing customers worldwide and this agreement confirms, once again, that customers see us as a competitive alternative”, says Mats Johnson, Bio-Works’ CEO.

For more information please visit Bio-Works’ homepage, www.bio-works.com or contact Mr. Mats Johnson, CEO for Bio-Works, e-mail: mats.johnson@bio-works.com, telephone: +46 70 516 53 37.

The information in this press release is such that Bio-Works Technologies AB (publ) is obliged to publish in accordance with EU Regulation on Market Abuse (MAR). The information was submitted for publication through the agency of above contact persons for publication on 18 March 2020 at 09:00 a.m. CEST.

PR BIOWKS signs supply agreement 20200318

Report from EGM 12 June 2019

Press release, Stockholm 12 June 2019 (Swedish version)

Report from extraordinary general meeting of Bio-Works Technologies AB on 12 June 2019

Today, 12 June 2019, an extraordinary general meeting was held in Bio-Works Technologies AB. At the meeting, a decision was made to approve the board of director’s resolution on a directed new issue of a maximum of 5,555,600 shares, which means an increase of the share capital by a maximum of SEK 555,560.

The right to subscribe for the new shares shall, with deviation from the shareholders’ pre-emptive right, vest in Northal Investment AB, Thomas Eklund, Newton Aguiar, Amicogen Inc., Färjsundet Industri Aktiebolag and Rhenman Healthcare Equity L / S. The subscription price in the issue is SEK 6.30 per share and subscription of the shares shall be made by cash payment.

The reason for the deviation from the shareholders’ pre-emptive rights is to approach institutional investors and at the same time quickly secure financing for further development of the business. The basis for the subscription price is an agreement between the subscribers and is based on the share’s market price.

For more information, please contact:
Mats Johnson, CEO
Tel: +46 70 516 53 37
E-mail: mats.johnson@bio-works.com.

This information was provided by the person named above for publication in Swedish at 11:30 CET on 12 June 2019.

About Bio-Works

Bio-Works is a biotechnology company that develops, produces and sells innovative separation media products based on agarose to purify proteins, peptides and other biomolecules. The company’s products are mainly used for purifying biological drugs and diagnostic products, from the research phase to large-scale production. The products are sold globally partly through its own organization and partly through distributors. The Bio-Works facility is located in Uppsala Business Park in Uppsala, Sweden. The company’s share is listed on Nasdaq First North. FNCA Sweden AB, +46 (0) 8-528 00 399, info@fnca.se, is appointed Certified Adviser.

Bio-Works present at Småbolagsdagen

Mats Johnson, Bio-Works CEO will present at Småbolagsdagen on 3rd June

On Monday June 3rd, next week, Mats Johnson, Bio-Works CEO will be speaking at the annual Småbolagasdagen (in Swedish), 12:00 in Sal 1. The event, which is held in Swedish, is attended by about 400 private investors and thousands more will watch the live and on-demand streaming. The event is organised by Aktiespararna and the live streaming can be followed here.

There will also be an interview at 11:10. More information and registration can be found here.

The event is free of charge but registration is required.

Quarterly report Q1 2019

Bio-Works Technologies AB Quarterly report Q1 2019

Period 1 January – 31 March 2019 in brief

  • Net sales amounted to 602 (2 142) KSEK. The decrease is strongly linked to the accrual of individual large orders.
  • Order intake decreased to 922 (2 004) KSEK for the same reason.
  • The result in the first quarter was -10 390 (-7 333) KSEK
  • Earnings per share in the first quarter amounted to -0,54 (-0,38) SEK
  • Cash flow from operating activities amounted to -7 535 (-7 843) KSEK
  • Bank balances amounted to 46 350 (81 058) KSEK at the end of the period.

Significant events during the first quarter 2019

  • Implementation of the quality system, which has been updated to the ISO 9001: 2015 standard, was completed by January 31 and certification was received on March 11, 2019. For many pharmaceutical companies this is a prerequisite for our products to be used in their production.
  • The customer base increased by 23% during the quarter to 291 active customers, which can largely be attributed to growth in North America and Asia.
  • The company received its first upscaling order for WorkBeads ™ affimAb in March.
  • The focus of the entire organization is to build sales by maximizing customer visits, with a focus on those that are scaling up, and providing good technical argumentation for the products’ function.
  • The commissioning of an upgraded Web shop that enables card payment, with the focus on being able to effectively sell to lab-scale customers.

Significant events after the end of the period, 31 mars 2019

  • During April a handful of customers in each region have continued to intensify their purchases for their scale-up activities.

Statement from the CEO

Dear shareholders,

We have embarked on 2019 with a very high level of activity in the field, with more customer meetings and more customers testing our products than ever before. The response from the customers is generally very positive in all our three regions, not least in North America and Asia. I have summarized the most important events during the first quarter of 2019 below.

Continued strong influx of new customers. Bio Works’ strong increase in customer numbers continues during Q1 with a broadened customer base, primarily in North America and Asia. After the first quarter of 2019, the company had 291 active customers, compared to 236 customers at the preceding year-end. We also see a promising development among our customers who are in the scale-up and production phase, where after the first quarter we have 54 customers in scale-up phase and six customers in full production. Six customers are in late scale-up phase and are approaching full production. Among the customers who have reached full production is one producer of an FDA-approved drug with global sales and a customer who sells to the Asian market that is important for Bio-Works.

Good start for WorkBeads affimAb. During Q1 2019, the company received its first scale-up order for our Protein A based chromatographic media WorkBeads affimAb, launched in Q4 2018. The order value is more than 400 KSEK. Published data shows increased productivity and purity in production of antibodies. We expect WorkBeads affimAb to add significant growth over the next few years as we judge the demand to be large while the unit price is considerably higher, generally 5-10 times, than our other products. The development of the sales of WorkBeads affimAb during the year will be particularly exciting.

Enhanced business opportunity due to certification. Bio-Works has been certified according to ISO 2001: 2015 since March 2019. The certification radically strengthens the company’s business opportunities, as many customers, especially in the US market, have been waiting for ISO certification to be able to include our products in their scale-up processes, and this has to some extent previously limited volume sales. Towards the end of the quarter, customer activity has increased in terms of purchasing larger volumes, an increase that has continued in April.

Current sales in the first quarter of 2019. The company’s sales in Q1 were 602 K SEK, which is lower than the corresponding quarter of last year, but we still have great confidence that the full year 2019 will show good sales growth compared to 2018. The order flow is expected to continue to be relatively uneven, until it becomes independent of a small number of customers placing large orders.

Continued work according to plan. In 2019, we will continue to build the company according to the plan presented at the IPO. We see Asia and North America as increasingly important markets for future sales. It is also in these markets that we expect the highest growth in the coming years.

For Bio-Works, it is of great importance to gain early access in customers’ projects, thereby ensuring that our products are integrated into production processes, which in turn creates a long-term lock-in effect, since the step of switching supplier late in scale-up or production is virtually unsurmountable, partly for regulatory reasons. With many customers using our products in full production phase, the company acquires a stable cash flow over time and can ensure a significant value for our shareholders.

We thank you for your trust and continue our work towards growth in 2019.

Uppsala 29 April, 2019

Mats Johnson,  CEO, Bio-Works Technologies AB

 

For further information,

Mats Johnson, CEO, telephone +46 70 516 53 37

Bio-Works Technologies AB (publ), Virdings allé 18, 754 50 Uppsala, Sweden

Tel: +46 8 562 674 30, Fax +46 8 124 513 29, email: info@bio-works.com

This information is such that Bio-Works Technologies AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. This information was provided by the persons named above for publication 2018-04-29 at 13:00

Read the full report in the downloadable pdf below

 

Presentation at Vator Securities Unicorn Summit

Mats Johnson, CEO of Bio-Works, will be presenting at the Vator Securities Unicorn Summit on Thursday 21st March at 13:55 at the IVA conference centre. The event will be recorded and will be available for viewing afterwards.

Read more about the presentation in the programme:

Investment presentation at BioStock

Mats Johnson, CEO of Bio-Works will be presenting for investors at the BioStock live STHLM event at 11.00 on the 20th March. You can attend in person at AB Nyhetsbyrån Direkt, 33 Kungsgatan, Våning 2, 111 56 Norrmalm or watch the live feed. Register for either attendance or internet viewing of the live feed here.

Bio-Works is now ISO 9001:2015 certified

Press release March 13, 2019

 

During 2018, Bio-Works has updated the quality management system according to the international standard ISO 9001: 2015. The system was fully introduced into the organization in January 2019. Bio-Works has now been audited and approved by an external certification organization, which means that the management system meets the requirements of the standard. The standard is harmonized with EU regulations and certification endorses the company’s ability to provide products that consistently meet both customer requirements and applicable legal requirements.

The certification covers product development, production, marketing and sales. By designing a quality management system with a strong customer focus where all processes and routines are carefully designed and quality tested according to international standards, Bio-Works ensures that it continues to deliver products and services in accordance with the requirements that the market demands. The certification is the result of systematic work that must constantly be carried out and prioritized in order to be able to offer products with high customer value.

Mats Johnson, Bio-Works CEO:

”The certification according to ISO 9001: 2015 is another important step in establishing Bio-Works as a reliable and long-term supplier for all our Life Science customers. Many of our customers must comply with various regulatory requirements and therefore require certified suppliers for their production. We know that several existing and potential customers have been waiting for our certification and we expect increased interest in our products. ”

For more information please visit Bio-Works’ homepage, www.bio-works,com, or contact Mats Johnson, CEO, e-mail: mats.johnson@bio-works.com, telephone: +46 70 516 53 37.

About Bio-Works

Bio-Works is a biotechnology company that develops, produces and sells innovative separation media products based on agarose to purify proteins, peptides and other biomolecules. The company’s products are mainly used for purifying biological drugs and diagnostic products, from the research phase to large-scale production. The products are sold globally partly through its own organization and partly through distributors. The Bio-Works facility is located in Uppsala Business Park in Uppsala, Sweden. The company’s share is listed on Nasdaq First North. FNCA Sweden AB, +46 (0) 8-528 00 399, info@fnca.se, is appointed Certified Adviser.