Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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i remember that...they didn't even have a ferry! LOL
No due diligence
I agree, how do you give such a large contract to a company that has never delivered a diagnostic product to market? It defies all logic. They obviously sold the concept well and I think Cummings as all about the nudge!
like DNAudge or whatever those students call themselves - 161 mil contract or something because they have an office in covent garden.
its like the PPE scramble... All Govs bought the first load of $ hi te they came across....seemed like a good, cheap deal as it was because it was... absolute rubbish and not fit for purpose!
Hi Sattara,
Great link, Great post, and Great highlighting posts Guys.
I would be very happy if Beckman Coulter posted this news everyday, especially if they add a little more information to it on each post.
Beckman are a Big business with Full time PR people that know how to get noticed, in the media.
GDR are a small business, that are fully utilised getting our Products to market, and DB cannot spend his or anyone else in the business fully employed in PR.
I have not been that impressed with Walbrook to date.
Feels Great to me.
Plantpower. I agree.
They don't announce just anything to the market like a lot of companies. Looking at the recent announcements this year they tend to announce usual corporate stuff like Q1 and Q2 earnings or if they have had FDA approval or a major deal. A handful of quality and meaningful announcements. To announce the Genedrive collaboration means its something high up within the company and a venture they clearly deem as significant or important. Let see what they can do for us and for the USA
Update in fairly esteemed company - definitely not spamming ‘non-material’ updates to market:
https://www.360dx.com/companies/beckman-coulter
PP
Beckman are Huge and are partners with big health care companies. They won't be validating this if they only have a couple of machines. They will have these machines all around the world so will sell it as a turnkey solution. All readily programmed. Not sure exactly how many they have but it will be a decent amount.
is Divoc lab using these Beckman machines?
ah i see Safy. thanks
so this announcement means Beckman are serious about this partnership and it is significant for them?
so could the timing of this signal FDA approval is just round the corner?
so that is 10/11 GDR cd19 kits per 8 hour shift on one machine
how many machines is average for a lab?
how many of these machines are out there?
Grim, yes this is the news from the other day but what makes it more appealing is the fact that Beckman have also announced it. For example, when a small company partners with a large corporation you usually find the small company makes the announcement as its material to them but the large corporations tend not to as its not really that much of a game changer for them.
Prime example is oil and gas, many small cap players announce farm in or joint venture deals with Shell or BP etc via RNS but you dont see Shell making the announcements in the same fashion because what may be transformational for the small cap company may not be for Shell or BP. If the small company valuation is going from £5 million to £15 million it's transformational, if Shell go from £35 billion to £35.01 billion its nothing for them because it's all about scale and the impact it has on the overall business.
Safy
I agree. It will likely be trialled in 1 large lab to startboff but then get rolled out to those states where there is a shortage or real requirement for faster testing. Beckman are going to go big on this. They will likely have thier machines dotted all around the USA. They state one 8 hour shift can process 1000 tests. So thats 3000 tests per 24 hours. Even if this was to be implemented in 10 labs acrothe USA that equates to 30,000 rapid gold standard tests per 24 hour.
30,000 tests at £8 is £240,000 per 24 hours or £87.6 million per year.
That's based on a 24/7 roll-out on just 10 machines. The USA is testing hundreds of thousands of people per day so the scope and opportunity is gigantic. But as above even if they rolled it out across 10 labs and did 30k tests per 24 hours its transformational for Genedrive. Lets say they rolled it out to 20 labs and started hitting 60k tests per 24 hours, all of a sudden then numbers look ridiculous at around £170 million in revenue per annum. And that's if we sell them at £8, if you get the top end price at £10 add another 20% to the revenues... And you won't even be scratching the surface in the USA with 30k-60k tests. They should easily consume them.
Then there's the Indian scope, PHE scope, Africa scope etc etc.
Once this delivers, it will deliver big
Just a USA contract win of 30k tests a day should see us worth £250 - £300 million MCAP.
I reckon FDA approvals are incoming very quickly as they need to be in for Beckman to roll this out. They will have a significant degree of confidence that they are imminent hence making this announcement otherwise its a bit embarrassing if your announcing a collaboration but then have to go back track due to not getting approvals.
isn't this just what we had the other day?
nice bit...
... Greg Milosevich, President of Beckman Coulter Life Sciences, said “The integration of Beckman Coulter Life Sciences and genedrive technologies produces a formidable workhorse solution for specialized labs looking to establish new or next-level lab automation with labor cost reduction. Our ability to fully integrate the RNA extraction process on the Biomek, while simultaneously preparing the plates for analysis, is a critical step forward in advancing COVID testing workflows. Speed up the testing workflow, reduce labor time and costs. This is the goal of our collaboration with Genedrive, and we’re excited to be bringing this solution to the market.”
Like the Divoc Lab?
Apologies Sattara. I think this deserves a thread of its own.
We are both working to have the ongoing validation completed in approximately 6 weeks, with initial introduction in the USA at an already identified clinical laboratory.”
The integrated Genedrive/Beckman Coulter Life Sciences solution will be introduced in selected, relevant geographies, subject to validation and any required regulatory approvals.
So there will be more than one lab!