News

 

 

 

March 23 2015

Scandinavian Micro Biodevices (SMB) reports its best financial result in 2014 with an increase of 13 % in profit and strengthens management by employing Henrik Kristian Moltke as CFO.

SMB continues to progress positively with an increase of 13 % in profit, on top of a 2013 result which was record high, to a EBT of 4.6 million DKK in 2014. The positive development is fuelled by market expansion in the "point of care" (POC) veterinarian market where the number of cartridges sold compared to last year increased with no less than 20%, combined with a strong focus on optimizing and automation of the production. 2014 was also a continuation of the company’s strategy of investing in new products and platforms within the company’s technology base. The main focus is to develop new game changing products which can be used within both the veterinary and human "point of care" (POC) market. 

 

SMB has at the start of 2015 employed Henrik Kristian Moltke as CFO. Henrik has a long and excellent career within health care and finance. Henrik will work on the continued professionalization of the SMB organization and execute on the strategy going forward. 

 

 

Ole Kring, CEO states “We are very satisfied with the development in 2014 because it is the best financial result ever and at the same time we have progressed our technology base and product development significantly which places us in a very strong position for continued growth in the coming years” and continues “I am also very happy to welcome Henrik on board as CFO. Henrik brings a huge experience in finance, strategy and business development to our company and will contribute to our success going forward”.

April 20 2015

New report from Danish Industry Foundation points SMB out as being in the forefront of industrial automation.

SMB is investing heavily in process, development, skills and automation which is around the industrial core product. See the case story (in Danish).

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September 2015

Scandinavian Micro Biodevices is proud to announce its participation in research project SMARTDIAGNOS. The project is partly funded by EU and received a 15 out of 15 score in the EU evaluation.  SMB is one of the lead partners in the consortium due to its unique set of integrated skills, and particularly because of the innovativeness level within micro fluidics technology.

The project SMARTDIAGNOS is led by DTU Nanotech and has the following partners:

  • Scandinavian Micro Biodevices

  • Cube Dx GmbH

  • DTU Fødevareinstituttet

  • TATAA Biocenter

  • Unilabs

  • Högskolan I Skövde

  • Charles University

  • Danube University Krems

  • Copenhagen Business School

  • Deutsches Institut für Normung e.V.

The project is aimed developing two products that will enable faster diagnosis of sepsis, where SMB will be responsible for the development of an emergency ward solution and Cube Dx for a laboratory solution. The SMARTDIAGNOS project receives an EU grant of 4 M€ (corresponding to 30 MDKK) and the partners will invest a similar amount making this a +8 M€ development project.

The project will advance sepsis diagnosis by simplifying clinical sample analysis methods and integrating the currently required numerous steps into a single streamlined device.

Sepsis is a potentially fatal condition that arises when the body’s response to an infection damages its own tissues and organs. It is mainly caused by bacteria and fungi, which spread through the blood circulation. It is one of the biggest public health issues worldwide due to its high incidence, mortality, human and economic cost. In the USA more people die from sepsis than from heart attack, lung cancer, colon cancer, or breast cancer. Early diagnosis is crucial to the management of sepsis, as every hour of delay of appropriate antibiotic therapy increases mortality by 5-10%.

Current diagnostic methods, including blood culture and different nucleic acid based multiplex technologies, are impaired by the significant time-delay of 1-3 days and low sensitivity of 30-50%. Hence there is an urgent need to develop new diagnostic tools that can provide more accurate and earlier sepsis diagnosis, so that patients with sepsis can be administered with prompt and correct initial antimicrobial treatment.

The project starts on 1 February 2016 and ends in 2020.

August 2015

Scandinavian Micro Biodevices is pleased to announce launch of a new test:

Feline Blood Typing™ Test

The QuickVet®/RapidVet® Feline Blood Typing™ Tests allows the veterinarian to quickly determine if a feline patient has A and/or B blood group. The test is highly automated and result interpretation is done by advanced algorithms ensuring the user an unambiguous answer.

 

 

For more information: www.quickvet.net

Farum, Denmark – August 8, 2016 - Scandinavian Micro Biodevices ApS (www.smb.dk) has today been acquired by US Company Zoetis Inc. (NYSE:ZTS) for a sum of US $80 million with the view to strengthening Zoetis’ diagnostics capabilities and portfolio.

 

Zoetis logo

Zoetis, the world’s largest global animal health company, has today acquired Scandinavian Micro Biodevices (SMB), a pioneer in developing and manufacturing microfluidic-based point-of-care diagnostic products for the veterinary market. Zoetis expects to invest in SMB’s operation in Farum in the coming years, thereby realizing the growth potential of SMB and creating new jobs within product development, production and support functions. 

 

 

Leading Edge Innovation in Veterinary Diagnostics 

 

Over the last 9 years Scandinavian Micro Biodevices ApS (SMB) has built its reputation on cutting edge innovation in Lab-on-a-chip (LOC), point-of-care diagnostics for the animal health industry. The one-time use cartridge and a small tabletop analyzer are marketed as VetScan® VSpro® in North America and as QuickVet® in the rest of the world. SMB’s proven, proprietary LOC platform integrates advanced microfluidic technology with a wide range of diagnostic tests, add sample - read result functionality, an intuitive customer interface, and data management capabilities.

 

This has resulted in SMB achieving an average annual revenue growth rate of more the 30% over the last seven years and being named Gazelle Company in 2015 by the Danish financial newspaper Børsen. Today SMB has a very strong development pipeline with several new diagnostic platforms underway and expects to launch a series of ground breaking new products over the next few years.

 

“I am extremely proud of what the team at SMB has achieved during my time as Chairman,” said Jarne Elleholm, Chairman of the Board. “The fact that the team has been able to develop a strong product line, achieve global distribution, turn the company profitable in 2012 and grow as quickly as they have done, is a fantastic achievement and a reflection of the quality and dedication of the employees at all levels in the company in the company.”

 

“We are confident that we can achieve our ambitions to grow our business as part of Zoetis,” said Ole Kring, Chief Executive Officer of SMB. “Zoetis is a global leader in the veterinary market renowned for its high-quality medicines, vaccines, and technical services. By combining the innovative products and production capability developed at SMB with Zoetis’ market experience and global reach, we can enhance our ability to develop point-of-care diagnostics to address veterinarians’ most pressing challenges in clinics and on farms. Zoetis’ global presence will allow us to bring next-generation diagnostic solutions to more veterinary customers worldwide, and we are looking forward to joining the Zoetis diagnostics team.”

 

“Being acquired by Zoetis is a fantastic opportunity” said Niels Kristian Bau-Madsen, Chief Operating Officer of SMB. “To achieve our R&D milestones and growth plans, Zoetis will be investing in the business and focus on recruiting highly talented people needed in development, production, and support functions as we further scale up the business. We are aiming to continue to growing as quickly whilst at the same time preserving the lean and agile start-up mentality that is a core value at SMB.”

 

Investment Director John Riis Mortensen, Vecata Invest A/S, said “SMB is clear proof of the strength of the venture model at its best. We invested in a highly competent management team and a strong technology base at a very difficult time in 2008. But with the combined efforts of SMB’s investors, a very strong board including key veterinary industry persons from the US and an experienced management team, we have been able to build a strong company exporting 99% of its output. This has resulted in outstanding value creation for the investors and a Danish growth success story.”

 

Jefferies International Limited acted as sole financial adviser to SMB.

 

Veterinary Diagnostics: A Growing and Vital Segment of Animal Health

 

The veterinary diagnostics market is valued at more than US $4.3 billion2 globally including reference laboratory, point-of-care diagnostics, and diagnostic imaging, and is expected to grow to US $6.7 billion by 20212. The point-of-care segment, which comprises approximately 50 percent of the overall animal testing market, remains the fastest growing segment at 8 to 9 percent CAGR2 driven by the strong demand for easy-to-administer, rapid tests for use in clinics and on farms.

 

About SMB

 

Scandinavian Micro Biodevices (SMB) is an innovative company headquartered in Farum, Denmark with 35 employees. We focus on the veterinary diagnostic market, where we develop Point of Care (POC) solutions for use in the veterinary clinic and on the farm. Our product consists of a one-time use microfluidic Lab-on-a-chip (LOC) cartridges and small bench top analyzers. The business model is a “Nespresso model” where we sell the instrument and different tests for the individual instrument. To date, SMB has sold more than 7.000 instruments globally. SMB produces both instruments and the one-time use cartridges at our facility in Farum, Denmark. For more information, visit www.smb.dk and www.quickvet.net.

 

About Zoetis

 

Zoetis (zô-EH-tis) is the world’s leading animal health company, dedicated to supporting its customers and their businesses. Building on more than 60 years of experience in animal health, Zoetis discovers, develops, manufactures and markets veterinary vaccines and medicines, complemented by diagnostic products and genetic tests and supported by a range of services. Zoetis serves veterinarians, livestock producers, and people who raise and care for farm and companion animals with sales of its products in more than 100 countries. In 2015, the company generated annual revenue of US $4.8 billion with approximately 9,000 employees. For more information, visit www.zoetis.com.

 

For further information please contact:

 

Jarne Elleholm, Chairman of the board

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone: +45 41 19 01 36

 

Ole Kring, CEO

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone:+4520337858

 

 

1 Veterinary Diagnostic Market Report, Markets and Markets, 2014

2 Veterinary Diagnostic Market Report, Markets and Markets, April 2016