Pharmaceutical industry & industrial chemistry and biotechnology
We aim to penetrate the market for products and services in high throughput screening as used in:
- the pharmaceutical industry for drug discovery and development ($600M) and
- in industrial chemistry and biotechnology for the development of synthetic chemicals such as catalysts, polymers, etc ($3B).
Combinatorial chemistry approaches to new drug discovery and screening as well as chemical development (polymers and materials, industrial biotechnology) have been utilised to synthesise large libraries with high efficiency. The market for combinatorial chemistry instruments, products and services has been estimated at around $3B today and growing to $5B by 2012. The needs of this sector of the market are for technologies that can deliver very high levels of complexity (“million-plexed”) on instrument platforms that can be used to deliver practical solutions in terms of throughput, speed and cost. While there are existing technologies that can in principle be used to generate highly diverse codes on beads, these are limited by the need to pre-write the codes onto the beads before attaching molecules of interest. This market segment represents our most viable commercial opportunity because it is currently poorly served by existing technologies and the write/re-write capability of our products is likely to enable development of novel solutions.
In addition, due to the small physical size of our device and rapid detection of large numbers of biochemicals, there are other commercial opportunities which could be explored in:
- clinical diagnostics and multiplex pathogen detection ($3B) with annual growth of 30% and a growing market for “worried-well” individuals ($8B),
- food and agricultural industry ($11B), e.g pathogen detection in water, food and/or the oil industry (detection of contaminants),
- biodefence, forensics.