Monday, 21 February 2011

SEPMAG forecasts rapid US revenues growth of 400% in 2011

SEPMAG, the manufacturer of world leading biomagnetic separation systems for the in vitro diagnostics (IVD) market, today forecast that it is set to again outperform challenging economic conditions, secure high revenues growth and to further cement its foothold in the US IVD market.

Today’s announcement comes on the back of growth results in 2010, during which time sales grew by 89% globally and 112% within the US.  Already this year, the company has begun shipping to leading IVD companies across the USA including Biocontrol, Innova and Abi Life Tech.

Josep Maria Simó, CEO of SEPMAG, commented: “2010 has been another stellar year for SEPMAG and we have rapidly established a growing foothold across the USA – the largest worldwide market - and just a year after opening our Atlanta offices. We have found the US market to be highly receptive to new technologies and we are already seeing a number of IVD companies moving from straight magnets to our homogeneous systems that provide more consistent results”

SEPMAG’s precision magnetophoresis systems, unlike other biomagnetic separation processes, produce a completely homogeneous magnetic field, which applies the same magnetic force on beads regardless of the distance from the magnetic ring. Using conventional separators, beads that are further away from the magnet will be harder to manipulate and those that are closer may experience an excessive force, often resulting in bead aggregation, loss of activity and resuspension problems. In contrast, SEPMAG’S unique magnet alignment vastly reduces the variability of the end product, enables a more straightforward scale-up process and greatly simplifies revalidation processes.

Josep, continued: “We confidently predict that our rapid expansion into the US will continue throughout 2011 with record growth at a rate of nearly 400% this year, outperforming the percentage growth forecast for companies operating in the IVD market. Our success is built primarily on our novel, patented biomagnetic separation technology that produces better results than other technologies available to US diagnostic manufacturing companies. We envisage that this exponential growth will be achieved as knowledge of our offerings spread across the US IVD market”.

SEPMAG develops, manufactures and markets homogenous biomagnetic separation equipment for the international diagnostics market. Its systems enhance the reproducibility of diagnostic kits, reduce material waste, facilitate the validation process and increase the safety of operation. These benefits are applicable through a range of laboratory settings from R&D through to large scale production. The Company is headquartered in the Vallès Technology Park, Barcelona and has a US subsidiary in Atlanta (GA).