IDA-BV will provide high sensitive ELISA tests (hsELISA) to replace radioimmunoassay tests (RIA) in diagnostics labs. hsELISA will be user and environment friendly solution to the current RIA method.

Strategic Importance

Our product to replace RIA tests is a strategically important product. It helps to reduce radioactive waste and thereby supports the transition towards a green economy. Having such product will hence provide a clear competitive advantage to IDA-BV.

Reducing radioactive waste will support the transition towards a green economy and will reduce risks of exposure for personnel currently working with radioactive tests.

How does the company deliver that value?

RIA tests rely on radioimmunoassay methods, which require replacement within the scope of the green transformation, due to their associated environmental hazards. Currently, no alternative experimental system to RIA is actively used for detecting hormones present at low concentrations in the human body. Standard ELISA tests are insufficient in terms of sensitivity for such applications. The most significant innovation to be achieved in this study is to develop a product with high sensitivity, environmentally friendly features, and routine applicability in patient samples as an alternative to the widely used RIA tests. The use of high-sensitivity ELISA kits in hormone tests will be performed for the first time. Comparative analyses of ELISA-based methods versus RIA will be conducted in terms of sensitivity, specificity, and accuracy for the targeted hormones.
 

The financial plan for the ELISA Project reflects a scalable and sustainable growth model over a five-year horizon. 

Cost associated with the project until year 5 are estimated to be of 3,3 million euro. Most of the costs are compensated with revenue model.

In order to manage risk, the project has two phases: The first phase is development which is to develop the products and launch them to the market until the mid of year 2. Then second phase comes which is growth phase. Growth phase includes sales and marketing-based activities.

                          

IDA-BV’s market entry plan will proceed through two distinct product versions: Research Use Only (RUO) and In Vitro Diagnostic (CE-IVDR). This strategy will enable the project to target different market segments effectively. The commercialization model includes: 

 

B2B: Licensing to established manufacturers or OEM (Original Equipment Manufacturer) production for smaller producers. 

B2C: Direct sales to hospitals and private laboratories performing RIA tests.
Pricing Strategy: Initially, the test price is planned to be set 25% higher than the current RIA test price. Considering that the product is non-radioactive and offers significant convenience for laboratory technicians, this price increase is expected to be well accepted by the market. 

Production: IDA-BV plans to keep the core development steps in-house while outsourcing large-scale production to qualified partners. This hybrid strategy will ensure flexibility and cost efficiency.

Following successful completion and regulatory approval, IDA-BV expects to generate revenue from both direct kit sales and technology licensing. Within five years of market entry, annual sales are projected to grow progressively from €500,000 to €3,3 million, maintaining an estimated gross margin of around 45-50%. The primary revenue stream will come from the supply of high-sensitivity ELISA kits to diagnostic laboratories, complemented by licensing agreements with global manufacturers seeking to integrate the technology into their own diagnostic platforms. Once validated, the platform will also be adaptable to additional biomarkers, enabling scalable expansion and recurring revenue opportunities. Potential exit scenarios include strategic acquisition by a major diagnostics company, licensing or royalty-based technology transfer, or, in the longer term, an IPO once sustainable revenue growth is achieved. Alternatively, IDA-BV foresees the possibility of remaining independent, supported by a second investment round to finance full-scale commercialization and manufacturing expansion.