FY18 Highlights
Melbourne, Aug 28, 2018 AEST (ABN Newswire) - Bluechiip Ltd (
ASX:BCT) provides the Company's 2017-18 Highlights.
- World-first, highly differentiated technology, with protected IP
- >$200M+ growing target market, with very large adjacent markets
- Dramatically increasing partner pipeline, 29 cumulative readers sold to date up from 14 in FY17
- Sale of products tripled to $434k up from $140k in FY17
- Well advanced product development
- Partner opportunity conversion with three executed licence and supply agreements and Bluechiip Enabled products in manufacture
- Growing partner supply, over 250k chips delivered in 2H FY18 Initial repeat revenues with sales up 136% year on year
- Orders in hand over $1M, expected to grow dramatically FY18,19 and 20
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Key Performance Indicators
2018 2017 Change %
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Turnover (AUD) $561,544 $237,773 136%
Number of Chips Sold 251,660 15,450 1,529%
No. of readers sold 15 10 50%
Loss After Tax (AUD) ($2,492,491) ($2,018,633) 23%
Share Price (AUD) as at 30 June 0.054 0.028 93%
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Bluechiip Overview
Bluechiip's technology wirelessly tracks the identification and temperature of valuable samples such as tissue, blood, serum and plasma which are stored in vials and bags in harsh environments like liquid nitrogen. Bluechiip's technology improves productivity, reduces human error and ensures sample integrity in industries such as the US$2B bio-preservation market. Bluechiip's miniature chips - smaller than the size of a matchhead - are attached to storage bags and vials, and information from these chips is read by a mechanical reader. Current sample-tracking technology - largely barcodes, radio-frequency identification (RFID) technology and written labels - is simply not keeping up with the increasing value of biosamples. Bluechiip's chips are currently being built into a range of vials by a US company, Labcon North America, one of the world's biggest consumables manufacturers. Bluechiip is in discussion with several other manufacturers to incorporate its technology into their products. Bluechiip's strong IP portfolio across ten patent families, including 25 granted patents.
Bluechiip Technology
The chip, a Micro Electro Mechanical System (MEMS), measuring 1mm x 1mm x 1mm, is a purely mechanical device with no powered electronics. Unlike other labelling technology - such as labels, barcodes and radio-frequency identification (RFID) technology - Bluechiip's chips perform in extreme environments like liquid nitrogen, operating reliably at -196degC. They are also resistant to gamma sterilisation, they are extremely difficult to clone or corrupt, and provide the temperature of samples when read.
Bluechiip Strategy
Bluechiip is now in the commercialization phase, having secured three OEM Agreements with companies in Australia and the USA. The company is shipping chips and producing growing revenue. Bluechiip's experienced team is working with potential customers to increase take up of the company's products and services. The company is initially targeting companies with high-value samples - where the cost of failure is high - such as IVF, regenerative medicine, cryo-transport and pharmaceuticals.
Primary Target Markets
Bluechiip's initial target is the US$2b bio-preservation and cryo-preservation market, which processes more than 300 million samples per year of tissue, blood, serum, plasma, etc for industries such as pharmaceuticals, IVF, research and clinical trials.
Our Product
Bluechiip's product range consists of a wireless tracking/measuring chip, a reader, and associated software.
- Bluechiip works with OEM partners to embed Bluechiip core technology into our partners' consumables.
- The reader: There are several types of Bluechiip reader - benchtop, handheld and multi-point. Readers enable instant tracking of each sample's data, including provenance, history and temperature.
- The software: Bluechiip's easy-to-use software database has wireless connectivity, and keeps chain-of- custody records for each sample in one location.
Competitive Advantages
Few technologies work in extreme environments and no other technology provides integrated wireless temperature- reading and tracking. Traditional tracking technologies such as barcode and labels are not suited for many high-value industries because labels and barcodes cannot be read through frost and removing frost to take readings can damage samples. RFID technologies typically do not work in very low temperatures or survive sterilization procedures. Conventional temperature-sensing technologies are limited because they sense the environmental temperature, not the temperature of the specific samples, and they require wiring and electronics which do not work in harsh environments.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/2S64AKT3
About Bluechiip Limited
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Key Performance Indicators
2018 2017 Change %
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Turnover (AUD) $561,544 $237,773 136%
Number of Chips Sold 251,660 15,450 1,529%
No. of readers sold 15 10 50%
Loss After Tax (AUD) ($2,492,491) ($2,018,633) 23%
Share Price (AUD) as at 30 June 0.054 0.028 93%
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Bluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.
Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.
Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.
Bluechiip: Delivering confidence in every sample.
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