Morning. My name is Andreas Bhagwani. I'm the CEO, one of the largest shareholders of Nanologica, and I'm here to give a presentation about the year-end report for 2020. Before I do that, I'll just give a brief introduction to why we exist. Better and cheaper medicine through porous silica, that's our vision. I think it's very important because there are two major trends or movements in the pharmaceutical industry and in the life science sector as a whole. One is, of course, that there are people out there that doesn't get medicines that actually exist or treatments that actually exist. One example is that there are a lot of diabetics that don't get insulin. We can be a major part in making insulin accessible, especially to a lot of the patients in Asia. The other side of the spectrum is, of course, that there are a lot of people that doesn't get any treatment at all. One example is IPF. It's a lung disease. There are no good treatments at all today. One of our partners, Vicore Pharma, they're using existing molecule that already is approved for cancer treatment. They're formulating it with our technology so that IPF patients can get a better treatment. They're moving into the clinic pretty soon. This is two good examples of how we're trying to be true to our vision. For those of you who do not know what we do, nanoporous silica, that's what we do. If you have our products in your hand and feel it's like a fine sand. They're micron-sized particles. If you look at them light microscope, you would see those discrete particles, as you can see in the second image. If you look at an SEM and even more magnification, you see that the particles are porous. That's sort of our thing to surface property, surface area, surface chemistry, pore size, pore size distribution. That's our backyard. Since we're very good at that, we use that in two business areas. Drug development and chromatography. In drug development, we have two platforms. One is for tablets and NLAB Spiro, and the other one is for inhalation, and that's where we put most of our efforts into because we think that we can be unique in delivering drugs that are not formulatable for lung delivery today. In chromatography, we have both analytical chromatography and where we've had sales and preparative chromatography, where we put a lot of efforts into getting the first products out. If you look at a historical perspective, there's before and after summer of 2018. Before that, a few quarters we had sales, and then we didn't have any sales. Since then, we've been very steady in our growth, and that seems to be continuing as far as we can see, and our horizon is a quarter or so when we're in this growth phase. We've had very good growth, and we will continue to grow. If you look at the quarter, in short, the net sales was SEK 6 million, and that's a lot better than in Q4 last year, 2019, which was SEK 2.7 million. Operating result, -SEK 3.6, also better. Results after tax, -SEK 5.4, also much better. We had a cash balance of SEK 66 million. Where does the sale come from? In drug development, our projects, especially GMP projects, they're giving us sales in drug development. Chromatography has been a disappointment, of course, although expected, because most of our problems here are COVID-related. When we sell analytical chromatography products, we have people demonstrating for labs throughout the world, and our main markets have been China and India. Although China is sort of back to normal, it doesn't mean that our people that are promoting our products can travel because they're traveling China around before the pandemic. Now, if they would go around China, it would take them three or four months due to all the restrictions. Heavily affected by COVID in analytical chromatography. Our other business areas, we've been delayed in virtually all our projects. The other big delay is, of course, that we have a clinical study that has been on hold because we can't access the clinics. That's NIC-001. If you look at where we can see most things happening right now, it's in prep chromatography. We've done a lot of things. We'll continue to do things. What we want to do here is to, of course, to establish the fast-growing industrial product sales. We've had very good news recently here. We started an upscaling project in 2019. We got the first products in December 2020, and those were tested in January 2020. What we could see is that it's identical to what we've manufactured at our pilot scale facility. This is super important because we've had a lot of customers that have tested our products, but that has come from the pilot plant. Now we know that those are completely equivalent. Of course, it's much easier to roll out and accelerate into ton-scale production, which is necessary to be able to provide to these customers. The next step is, of course, that we'll send out products from our big facility to our customers. We will strengthen our sales organization. I'm very pleased to just recently announce that Dr. P.K. Dutta has joined us. He has a very strong track record, and he's done a lot of the major deals in the industry. We welcome P.K. to the team of Nanologicans. Switching tracks. Our other business areas are quite different. What we want to do here is that, of course, we want to be able to bring drugs into the inhalation field that were not formulatable before. Formulation of inhalation drugs has a lot of limitations, and we hope that we can be almost like a breakthrough technology in this field. GMP is, of course, super important that we started that, but even more important is that we started preparing for animal studies, both Tox study and PK studies, so that we can show maybe with two APIs during this year, we will be able to demonstrate the versatility of the platform. If we're lucky, one of those APIs could become a clinical program, but that's too early to say. Of course, our clinical program, NIC-001, has been postponed, as I said before. Looking ahead, again, I'd like to underline the importance that the output from our big facility is equivalent to what we've done at our pilot plant. That's super important, it's already checked. Next step is, of course, to start sending that out and to accelerate the ton-scale production. We expect to have products out in larger scale later this year. Of course, it's a balance between signing customer contracts for those volumes and delivering those volumes. Of course, we're in here for the long term, and if it comes to one quarter or the other, I don't think that's really important, but we're trying to do it as fast as possible. Switching tracks to our other business area, drug development. We're expecting data throughout this year. Very exciting from Q2 and onwards. We, of course, have partner projects that are moving into the clinic either in 2021 or 2022. We don't know that. It's not really for us to decide. It's their time plan. Just to summarize, very strong sales. Best sales so far. That's not the most important thing. The most important thing is that we've been able to demonstrate that what we have manufactured at our big facility is equivalent to what we have in our pilot plant. That is important because it is a product from the pilot plant that has been tested by customers. Very exciting times ahead, and I hope to see you soon. Over and out from Andreas Bhagwani at Nanologica, presenting year-end reports for 2020. Thank you.
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