In a 1H21 update, Microsaic Systems (MSYS ) said its new commercial strategy implemented in early 2021 has resulted in recovery of growth in revenues which are up 594% on 1H20. 

The Group, which develops point of need mass spectrometry ("MS") instruments, described its performance in 1H21 as “transformational” as revenue increased over 1H20 to £0.499m. 

CEO, Glenn Tracey told investors that the Group’s new commercial strategy of collaborating, partnering and revenue sharing has moved the business away from equipment-only sales.  

The Group said following the implementation of its strategy, it is now offering integrated real-time data analytics with AI alongside its mass spectroscopy hardware, providing complete solutions such as in-field environmental testing and on-site human diagnostics.  

Microsaic said the change of strategy and adjustment to a revenue sharing business model has demonstrated solid evidence of sales growth which is expected to continue into 2H21. 

During 1H21, Microsaic said it drove revenues after making five key commercial hires on environmental detection of water contamination and in human health markets, delivering real-time on-site monitoring and data analytics with connected IoT, AI and support services. 

In March, Microsaic secured a commercial agreement with DeepVerge whereby its products and services are being deployed internationally in applications such as water monitoring of chemicals and pathogens, and in support of DeepVerge's rapidly growing Labskin division. 

Later in May, the Company announced that it had made initial shipments to a new Chinese partner to obtain a medical licence in China for real-time therapeutic monitoring of drugs with commercialisation (including service and reagents revenue sharing) expected in 2022. 

In June, Microsaic processed a further smaller purchase order from DeepVerge under its agreement, worth c.£72,000, to supply certain additional mass spectrometry equipment for quality and contamination detection in a range of markets including water and soil analysis.  

Shares in Microsaic Systems were trading 2.00% higher this morning at 0.26p. 

Given the ongoing uncertainties over the effects of further waves of COVID-19 across multiple geographies, the Board remains cautious on short-term forecasting. Accordingly, we will consider whether it is appropri

Microsaic told investors that its mid-term prospects are now looking “more positive” with today’s encouraging half-year results being even more reflective of the group’s potential. 

Post-period, the Company told investors that it has demonstrated and delivered an efficient automated production scaling methodology to fast-track drugs and vaccines to market. 

Microsaic said its efforts to deliver this solution forms part of the recent G7 directive to deliver faster production of vaccines and treatments to manage both current and future pandemics.  

In particular, the Biopharmaceuticals industry, which is a well-established and rapidly growing sector currently valued at c.$200bn, faces significant challenges around process robustness.  

Commenting on the solution, Glenn Tracey, CEO of Microsaic Systems said: "As part of the recent G7 directive to deliver faster production of vaccines and treatments to manage the current and future pandemics, we are delighted to have achieved this significant milestone. 

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