News
HyTest’s strong growth continues
HyTest’s revenue at the end of October for the fiscal year 2010-2011 year was EUR 10.2 million. HyTest was again capable of growing its market share as growth over the previous year was 12% which exceeds the industry average. At the same time profitability (EBIT) improved to record high of 36.7% or EUR 3.7 million. Because of the excellent profitability and strong financial position HyTest has been able to fund all investments and business developments with cash flow from operations.
Successful financial year was enabled by HyTest’s strong market position as a global provider of immunoreagents for various cardiovascular diseases. Investments in the Chinese market contributed also to sales growth. In September 2011 HyTest opened a sales office in Shanghai, China, in order to serve the fast expanding customer base faster and more efficiently.
Strong financial position also enabled significant investments in R&D which helped to expand HyTest’s IP-portfolio with some groundbreaking proprietary technologies. These will offer a lucrative opportunity to expand HyTest’s business with significant license- and royalty fee based revenue flows.
The share of export sales was 95%. The largest single market is still the US with 42% share of the sales, but its relative share fell from previous years' level as at the same time sales to Germany (10%) and China (9%) increased considerably. Other important markets are the EU countries (Great Britain 9% and France 6%) and Asia (Japan and Korea, 6% and 4%, respectively). These developments are positive as now the US market plays a less dominant role relative to the EU and Asian markets making HyTest less vulnerable to economic developments in the US market.
HyTest attends to MEDICA 2011 in Düsseldorf in November 12-10-11
HyTest attends to MEDICA 2011 in Düsseldorf in November. You are warmly welcome to pass by at our booth # 3D64 . Please find the details below:
MEDICA 2011
Düsseldorf, Germany
November 16-19, 2011
Booth # 3D64
http://www.medica-tradefair.com
HyTest abstract has won National Academy of Clinical Biochemistry Distinguished Abstract Award 22-06-11
HyTest attends to AACC 2011 Clinical Expo in Atlanta, July 25-28. You are warmly welcome to visit our booth #27 at any time.
HyTest is presenting following abstracts at session 11/Cardiac Markers:
• N-terminal and C-terminal fragments of IGFBP-4 as new markers for short-term risk assessment of major adverse cardiac events (MACE) in patients presenting with ischemia (C-07, Date/Time: 7/27/2011 10:00 am). We are proud to announce that this abstract has received NACB Distinguished Abstract Award.
• Evidence for processing of humanpro-B-type natriuretic peptide in the circulation. (C-14 , Date/Time: 7/27/2011 10:00 am).
New website troponins.com is now open 15-06-11
HyTest proudly launch a new website troponins.com. There you will find general troponin information, latest news as well as all information on HyTest troponin product portfolio. Please visit at troponins.com!
HyTest attends to AACC 2011 Clinical Expo in Atlanta, July 08-06-11
HyTest attends to AACC 2011 Clinical Expo in Atlanta, July 26-28. You are warmly welcome to visit our booth #27 at any time. Please read more about the Largest Clinical Lab Exposition in the World from AACC website. We look forward to seeing you in Atlanta!
HyTest revenue increased 15 % - press release first half of fiscal year 2011 26-05-11
HyTest Ltd. is a biotechnology-orientated company based in Turku, Finland, that manufactures and markets high-quality immunological reagents for industrial and research applications. HyTest has customers across all continents. For the first half of the fiscal year 2011, HyTest reported revenues of EUR 5.4 million, an increase in comparison to the EUR 4.7 million reported for the corresponding period in 2010. Operating income remained high at EUR 2.1 million - accounting for 39 per cent. Thanks to continuing profitable growth, HyTest has been able to constantly expand its international operations.
During the first half of the fiscal year, the largest market for HyTest was the USA, representing 43 per cent of total sales despite the weak dollar. Other important markets were the EU countries (Great Britain 11 per cent and Germany 10 per cent) and Asia (China 6 per cent and Japan 6 per cent).
Sales of cardiac markers increased significantly during the period and there was especially remarkable growth in the sales of troponin-products. In addition, HyTest experienced a rise in the sales of infectious reagents and diabetes products. By contacting diagnostic companies actively and being visible in international scientific publications, HyTest has been able to grow profitably in the demanding global economic environment.
Licensing opportunities – technology solution for BNP- and proBNP -detection 15-02-11
Interested in entering the fast growing cardiac diagnostics market with a new innovative diagnostics solution?
Because of the aging population and increasing obesity cardiovascular diseases have become one of the leading healthcare problems. This has also fueled the need for cardiac diagnostics (1). NT-proBNP and BNP testing have been one of the fastest growing markets not only because they offer improved tools for making diagnosis but they also help to drive down healthcare costs (2).
HyTest’s innovative solution offers an opportunity to enter this lucrative market.
HyTest’s newly developed “single-epitope sandwich-BNP-assay” (SES-BNP) offers a sensitive and fast test platform for proBNP and BNP.
HyTest’s SES-BNP platform is based on antibody detection of the stable ring-structure in BNP/proBNP and this complex is then detected with the secondary antibody.
Based on this technology HyTest’s SES-BNP offers:
• A technology to get true BNP values required to make correct diagnosis (measuring both BNP and proBNP) which improves diagnostic results
• Easier sample handling as samples may be stored in room temperature longer time period
• A less costly technology which allows also small- and medium sized enterprises to enter one of the fastest growing IVD-segments
• A technology that is highly similar to BNP test thus making it possible to use Biosite’s Triage as predicate device for registration purposes
SES-BNP-technology has been used also in studies published in peer reviewed journals (3)
HyTest’s SES-BNP is not just a technology platform as HyTest offers also reagents and calibrators which can be used to develop the test.
Please read more from the TechNotes and product data sheets:
• SES TechNotes
• 4BNP2: BNP, human, antibody
• 4BFab5: Immune complex 24C5-BNP_proBNP, antibody
• 8PRO9: proBNP, recombinant, human
• 8GOB2: Human recombinant proBNP glycosylated
Interested?
Contact:
Pekka Hilden
Email: pekka.hilden(at)hytest.fi
References:
(1) Kalorama Information, 2008.
(2) J Mant, et al. (2009) Systematic review and individual patient data meta-analysis of diagnosis of heart failure, with modelling of implications of different diagnostic strategies in primary care. Health Technol Assess., 13(32):1–232
(3) Tamm NN, et al. (2011) Measurement of B-type natriuretic peptide by two assays utilizing antibodies with different epitope specificity. Clin. Biochem., 44(2-3):257-259
D-dimer and High Molecular Weight Fibrin Degradation Products 18-05-10
For the accurate determination of D-dimer, the assays must not detect fibrinogen and its degration
products (D-monomer). HyTest offers D-dimer produced from clotted fibrinogen by means of plasmin digestion and anti-D-dimer MAbs. Please read more from D-dimer and High Molecular Weight Fibrin Degradation Products TechNotes.
Strong growth of HyTest continues – revenue almost 10 million euros 02-06-11
HyTest Ltd. is a biotechnology-oriented company based in Turku, Finland, that manufactures and markets high-quality immunological reagents for industrial and research applications. HyTest has customers over in 40 different countries and in all continents. In the year 2010 HyTest revenue increased strongly during which the global economic environment continued to create challenges for many other companies.
HyTest revenue increased by 17% to 9.1 million euros and the operating profit was 3.1 million euros and in percentage 34%. Because of profitable growth HyTest has been able to fulfill all investments with income financing.
During last fiscal year sales of cardiac markers increased significantly and sales of infectious reagents was also stable. HyTest implemented new CRM program and by using that contacting existing and potential customers has been even more effective. HyTest is continuously working to bring new products to the market as well as improving the existing ones. Because of strong economic situation HyTest has been able to invest in R&D even more.
For HyTest USA is the most important market representing 51% of total sales. Other important markets are EU countries (Great Britain 9%, Germany 6% and France 5%) and Asia (China 6%, Japan 5% and Korea 4%). Sales in USA grew strongly and overall sales grew steadily in the other important markets.
HyTest manufactures high quality monoclonal antibodies and antigens for industrial and research customers. HyTest is a leading provider of several reagents, such as antibodies and antigens of the troponin I, troponin complex and influenza A and B.
Antibodies for New Type of BNP immunoassay – “Single Epitope Sandwich” assay 16-04-10
HyTest specialists have recently developed antibodies for a brand new type of BNP immunoassay - the “Single Epitope Sandwich” immunoassay (SES assay) - which differs from all commercially available “conventional”- type sandwich BNP assays. Please read more from TechNotes Antibodies for New Type of BNP immunoassay – “Single Epitope Sandwich” assay.
