Melbourne, Oct 26, 2016 - (ABN Newswire) - Bluechiip Ltd (ASX:BCT) is pleased to provide its Annual Report 2016 to shareholders.
Bluechiip Highlights
- UNIQUE AND FULLY PATENTED TECHNOLOGY combining secure wireless tracking with integrated temperature sensing for extreme environments.
- $2b+ bio-preservation / bio-storage target market.
- Repeat revenue from license fees, service and product sales (2nd half FY2016 $150k).
- 24 patents granted Bluechiip “owns” this space.
- PIPELINE OF MORE THAN 15 PARTNERS with initial revenue from developer kits and validation customers.
- HIGH SALES GROWTH expected in short to medium term on IVF product release early 2017
- Supply agreement executed with fertility treatment specialists Genea Biomedx in the highvalue IVF market, with global distribution through a major global pharmaceutical company
- GOVERNMENT CO-FUNDED PROJECTS with University of Melbourne and Swinburne University to make Bluechiip’s technology adaptable and suitable for various formats with significant value enhancement
- Trial and developer agreements in protein crystallography, cell therapies, general biobanking and auto identification and data capture markets.
- Large adjacent market opportunities (e.g. cold chain logistics, food, security and anti-counterfeiting).
Key accomplishments:
- The Bluechiip reader has been configured for OEM and is now being adopted by an OEM partner.
- Establishment of a technical sales and support team and a developer kit. We are now beginning to train and assist OEM companies to integrate the chip and reader into their own systems.
- Expansion of our North American market presence with two business and development representatives based in Chicago and San Francisco.
- Engagement of several lead customers to evaluate and validate our products. Bluechiip technology was installed in Autism CRC Biobank in March and orders received from new firms to trial our sample tracking technology in June. After year end, in August, we sold and installed a starter kit to the Chinese Centre for Disease, Control and Prevention (CCDC), based in Beijing.
- We are demonstrating a visible revenue stream through OEM licensing fees in the IVF sector. We have also received initial revenue from developer kit sales and validation customers.
Projects in progress:
- We are engaged in Government co-funded projects with the University of Melbourne and Swinburne University to make ‘Bluechiips’ adaptable and suitable for various formats.
- In September 2015 we were approved by Research Connections to receive Australian Federal Government grant assistance to develop new Cryo Tag and Reader technology. From the excellent work undertaken with the Center for Neural Engineering at the University of Melbourne we filed a provisional patent application for an over temperature ‘Bluechiip’ in September 2016.
- We are now standardising the chip reader for direct customer sales. We have a mature mobile handheld reader and a prototype multi-vial reader. We also released a Bluechiip Button for customer trials in the Biobanking retrofit market and a Bluetray has been developed to demonstrate the ability to continuously read samples temperatures of samples in transit.
- We are building a track record of real product applications for OEM proof.
-- Fully executed OEM agreement in IVF
-- Two agreements in place for protein crystallography and cell therapies
-- OEM pipeline has grown from two to over 15 companies
-- In September 2016, Bluechiip signed a Technology Evaluation Agreement with a US-based Auto ID and Data Capture Company
-- Bluechiip entered a major partnership with the signing of two agreements with Planet Innovation (PI), winner of BRW Australia’s Most Innovative Company for the last two years
- Highlight - Bluechiip & Genea Biomedx License and Supply Agreement executed in Dec 2015
-- Bluechiip and Australian fertility innovator Genea Biomedx, entered into a license and supply agreement to incorporate Bluechiip’s sample tracking technology into Genea Biomedx’s range of ART instruments, used in IVF clinics worldwide.
-- In February 2016 we successfully completed the concept due diligence milestone and continued to progress to the product development phase
-- In July 2016 we successfully displayed our tracking technology at the European Society of Human Reproductive Embryology (ESHRE) trade show in Helsinki, Finland.
To view the annual report, please visit: http://abnnewswire.net/lnk/4ISG1P9K
WEB: Annual Report to shareholders
About: Bluechiip Ltd
Founded in 2003 and ASX listed in 2011, Bluechiip Ltd (ASX:BCT) has its head office in Melbourne, Australia and distribution channels around the globe.
Bluechiip’s unique and patented technology combines secure wireless sample tracking with integrated temperature reading for use in extreme environments, working reliably in temperatures from -196DEG C to +200DEG C, and impervious to autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.
Based on MEMS technology, the Bluechiip(R) tag contains no electronics. Unlike traditional tracking technology like labels, barcodes or RFID, Bluechiip does not require line-of-sight visibility for temperature readings and tracking, and so can be read through frost without damaging the sample.
The tag can either be embedded or manufactured into storage products such as vials or bags. Easy identification, along with any associated information from the tag can be detected by a reader, which can also sense the temperature of the tagged items. Unlike other tracking methods, the Bluechiip(R) technology can sense the temperature of each item a tag is attached to or embedded in.
This technology is particularly important for industries such as the $2b biopreservation and cryopreservation market, which processes more than 300 million samples per year of tissue, blood, serum, plasma, etc., for industries such as pharmaceuticals, IVF, research and clinical trials. It also has applications in cold chain logistics, food, manufacturing, security and defence.
Further information is available at http://www.bluechiip.com
