Lund, Sweden, November 23, 2009 - MIP Technologies AB announces today that the Company had been awarded Third Prize in the 2009 Deloitte Technology Fast 50 competition which lists the 50 fastest growing technology companies in Sweden. MIP Technologies achieved the third highest growth rate of all Swedish technology companies, showing a 2812 percent increase in revenues over the period 2004-2008.
“The Deloitte Prize is a validation of our growth strategy. We knew our growth had been exceptionally quick even for the technology marketplace. However, we were delighted to be recognized as having ‘the third fastest growth’ in our early years, particularly alongside many highly competitive biotech, IT and internet companies,” said Anthony Rees, CEO.
“While growth rate is a good initial measure of a strong company, the goal quickly shifts to building turnover and converting that into a sustainable business. While it would be nice to maintain a growth rate of this magnitude as we move forward, making a significant jump in top line is our next objective”.
MIP Technologies’ revenues arise from sales of analytical products based on molecularly imprinted polymers through its partnership with Sigma Aldrich Supelco, development and sales of other novel separation materials through its own sales and marketing activity and custom development of process scale separation solutions with large corporate partners.
MIP Technologies attributes its success to targeting niche high growth areas - primarily ‘selective separations’ - where there is a significant unmet need and limited competition. The bespoke materials the Company develops are able to target specific molecules in multiple applications across the food, pharmaceutical and biopharmaceutical industries. MIP Technologies has had notable recent success in extracting toxic pesticides from raw foodstuffs, measuring non-steroidal anti-inflammatory drugs (NSAIDs) at extremely low levels in environmental water, and detecting banned antibiotics in shrimp, milk, honey, urine and plasma. MIP Technologies has ongoing projects for large scale separations with several multinational companies in the food and pharma industries.
About MIP Technologies
MIP Technologies AB is a world-leading company in the development of molecularly imprinted polymers (MIPs) and other novel polymers. The Company is a pioneer in the commercial applications of MIPs, holds important patents and maintains cutting-edge research activities in this area. The Company’s mission is to provide innovative products based on molecularly imprinted polymers that serve industry’s needs in analytical, preparative and process scale ‘selective separations’. The Company has the ability to produce MIPs and other selective polymers from laboratory to pilot scale and is well placed to develop large-scale separation solutions for its customers. Currently, the Company develops analytical separation products (e.g. SPE) and has multiple custom process scale projects in place with several blue chip companies. MIP Technologies has its headquarters in Lund, Sweden. For more information about MIP Technologies AB visit www.miptechnologies.com
