3Brain aims for over CHF1.1 million in revenues this year

27.06.2018 16:30

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BioCAM X

Three years after the launch of its first product, 3Brain has seen a 38 percent increase in its revenues and now aims to reach over CHF 1.100K this year. The brain-computer company is currently developing new strategies to accelerate its growth.

Established in 2011, 3Brain is a Zurich based MedTech company leading the development, manufacturing, marketing and distribution of analytical equipment and sensor chips for research and development laboratories in the field of cell biology, which includes neuronal networks, neurospheres, brain tissues, in vitro “mini brains” and brain interfaces.

In Q3 2015, the 3Brain launched its first product BioCAM X, the world’s first high-resolution in-vitro brain screening tool. Since then, sales have climbed steadily and turned the company profitable. The company recorded CHF 600k revenues in 2016 and CHF 840k in 2017 with an increase of 38 percent. “We expect a similar growth rate this year with revenues surpassing CHF 1.100k”, said Mauro Gandolfo, CEO of 3Brain.

The customer base has also grown steadily with more than 30 recurring customers in Europe who purchase consumables for their screenings. Moreover, the company has customers in the US & Canada where it generated its first sales early this year.

Late 2017 the company converted into an AG (Public Limited Company) with a new independent board of directors comprising of six members from Switzerland, Nordic countries, and the USA. The Board altogether has vast experience in managing pharmaceutical and medical device companies, in completing IPO’s, operating public companies and executing multiple M&A's. A team of ten 10 FTE runs the company.

3Brain’s operating activities are financed by the revenues. For the continuous development of breakthrough technologies, the startup received the Eurostars grant for the project «3DBrainScreen», an in vitro 3D brain-on-a-chip model for advanced drug discovery and neurotoxicological assays.

Thanks to the fast evolvement and acquisition of market shares from other competitors, 3Brain has advanced from being a startup into a growth company. Its team seeks to accelerate this growth with new funds from series A financing round. The Board and the management team are launching a financing round of CHF 1.5 million, which is intended to close in October. The proceedings will be used to fuel the penetration in the pharma field, to boost sales and to prepare the company for additional strategic steps.

“We are currently working on strengthening our IP portfolio with one additional patent to be submitted by the end of July and another around the end of the year. With the closing of the round, we will hire new personnel growing up to 17 FTE”, says Gandolfo.

(RAN)

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