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Elysia is the world's largest player in its niche market of the Quality Control Lab for Nuclear Medicine in hospitals. They ensure radio-pharmaceuticals quality to fight more effectively against cancer in the world.
In October 2015, Elysia acquired Raytest, a German competitor, well-known within the nuclear medicine industry since 1980.A capital increase of 1,2 mi. € was recently closed with the existing shareholders with the addition a loan of 580k€ provided by the Walloon Region to finance the acquisition.
The project stems from an absence of an integrated quality control (QC) solution for radiopharmaceutical products (RP) laboratories. This fact has been observed by many practitioners in the field and confirmed by one of
QC-Cubicle is a solution to laboratories conducting quality controls on Radiopharma (RP) production, RP products will be used for diagnosis (PET or SPECT-scans) or therapeutic treatments. The solution is completely modular and integrated, easy to manage and applicable to different RP’s. Moreover, it will integrate the three pillars; hardware, software and services (such as maintenance and training). The hardware will be simplified and easier to use, i.e. instead of having seven computers to perform the quality control, Elysia is offering one server with few buttons to facilitate the quality control process.
The distribution strategy will be performed through three channels:
- Sales through manufacturers (e.g. for large production centres or cyclotrons). The latter, having a contact with end-customers, will become Elysia’s customers and they will integrate the solution into their own product offerings (e.g. IBA, Siemens, GE Healthcare, Advanced Cyclotron Systems, etc.)
- Direct sales to FDG producers such as CisBio, Cyclopharma, PETNET or AAA
- Direct sales to decentralised laboratories and nuclear medicine departments (they generally purchase products from several vendors and if applicable, integrate it in their laboratories)
The installation, maintenance and associated services will be conducted by Elysia. IT support relating to the application will be subcontracted to an external service provider, to ensure a 24h/24 support in different countries.
The company will work with agents for emerging countries, prioritising Russia, Latin America and the Middle East.
Passera via IBA
Asia, Middle East, Europe
The product cannot be patented as it is just an integration of existing modules and equipment already on the market. The software will be protected by user rights and licensing. In June 2015, Elysia registered their new trademark called ‘QC-Cubicle’.In addition, it is planned to integrate automatic validation mechanisms in the software, i.e. it would indicate if the system is no longer in compliance with local regulations if not maintained and/or monitored by qualified personnel with calibrated and validated equipment.
In June 2015, Elysia and IBA signed a distribution agreement whereas Elysia agrees to appoint IBA as exclusive distributor for the distribution of 14 products to the Cyclotron Customers. In addition, Elysia agrees to appoint IBA as non-exclusive distributor for the distribution of its other products.In July, two orders have been confirmed (and invoiced) for Canada and Mexico for a total of 500k Eur. In addition, there are opportunities within 12 months for 2 IBA contracts in Argentina (400k Eur) and 2 IBA contracts for Vietnam (250k Eur).
IBA : They dare to develop innovative solutions pushing back the limits of science. They share ideas and know-how with their customers, their partners and leading experts to bring new solutions for the diagnosis and treatment of cancer and for the benefits of patients.
IBA is a strong and strategic partner for Elysia to develop the business.