Timegate CEO's greetings for the year 2024
In the biopharmaceutical and biotech industries, recent years have presented a range of challenges. Layoffs and budget cuts have been observed, alongside increased costs and decreased income due to factors such as inflation, interest rates, new tax regulations, heightened competition, and the need for additional sales and marketing efforts. This has resulted in higher acquisition costs per patient, lower peak sales, and narrower margins within the industry.
Embracing Technological Innovation in the Future-Driven Biopharma Industry
When discussing the future, it's evident that the biopharma industry is at the forefront of embracing technological advancements, making it one of the most future-driven industries. The entire life sciences sector is stepping on the road of significant transformation and digital innovation. The groundbreaking advancements in AI and automation, and the increasing focus on flexible manufacturing are among the key trends driving the industry forward. Biopharmaceutical manufacturers are actively investing in technologies that enable the production of tailored drug batches to address the evolving requirements in personalized medicine, especially for complex conditions like cancer and rare diseases. Embracing modular manufacturing and single-use technologies is the route to achieving needed flexibility, allowing for faster adaptation and increased productivity in biologics manufacturing.
Timegate's Ongoing Commitment to Advancing Biopharma Technologies
At Timegate, we also support these new trends in the industry by constantly developing our offering towards our customers' needs. At the beginning of this year, we brought to market the MicroPlate HTS System, a microplate reader that opens up new horizons in spectral analysis for a variety of applications in the biopharma field from drug discovery to end product quality assurance. In addition, last year we started the work to integrate Timegated® technology to single-use bioreactors and this work is continuing this year.
Timegate's Remarkable Growth Amidst Industry Challenges
Despite all the turbulences in global economics, the year 2023 in Timegate was amazing thanks to our wonderful customers, partners, and team working together to solve the current manufacturing issues in biologics production. As a brief wrap-up from the last year, we witnessed nearly 100% revenue growth from the year 2022, production volume growth of +80%, and team growth close to +50%. This year, we are expecting even higher growth both in revenue and production capability. We can clearly see that the pharmaceutical industry is looking for innovations constantly to solve existing issues in a new therapeutic landscape. At Timegate, we operate at the intersection of technology and medicine, constantly striving to provide added value to our clients.
Timegate's Expansion and Engagement in 2024
This year brings a lot of new winds to Timegate, with exciting new developments on the horizon. Our team has recently expanded in the US with the addition of Paul Murphy as the North American Sales Manager. Currently, Paul and our US distributor McCrone are showcasing our innovative technology at PITTCON in San Diego. Next week, our team will be exhibiting at the IFPAC conference in the Washington area, with many more events lined up in Europe and Asia later this spring. Stay updated on all these events and news on our recently renewed webpage.
As we embark on these exciting endeavors, I eagerly anticipate the opportunity to connect with both familiar faces and new partners, collaborators, and customers at these upcoming events!
Read more about Timegated® Technology solutions for the biopharmaceutical industry.
