The Company was established in 2016 to exploit opportunities within the pharmaceutical sector, specifically delivering a solution to reduce manufacturing costs and increase output. To do so, the Company has established a novel technological process called ‘zero step purification’. The purification stage of pharmaceutical drug production is currently resource-inefficient. Current industry processes involve the use of resin, filters and other consumables, the use of which are no longer required when using the Purius component. The Company estimates that its platform can eliminate up to 60% of downstream processing costs (‘DSP’).
The Company’s process has a patent application in progress. The technology is fully scalable and enables higher throughput as well as efficient product purification for both the pharmaceutical and biotechnology industries.
Purius offers a near ‘single-vessel’ operation thereby vastly reducing GMP (Good Manufacturing Practices) complexity whilst releasing further scalability. In context, this means that biopharma companies can move from R&D to manufacturing to field deployment in one process, an opportunity which is not currently available.
The opportunity in biopharmaceuticals is significant and growing rapidly. Today, biopharmaceuticals generate global revenues of US$163 billion, making up about 20% of the pharma market.
The Company has identified through extensive market research that DSP is now the bottleneck costing an average 55%-80% of COG(cost of goods), greater than US$14bn p.a.
Emerging markets such ‘biosimilars’ (a biopharmaceutical drug designed to have active properties similar to one that has previously been licensed) are growing fast but under enormous cost pressure due to the significant costs associated with the current drug refinement processes.
At present, the purification arena is currently monopolised by a single manufacturer, GE Healthcare. The Company is keen to disrupt the market with its novel approach that offers significant cost savings and productivity improvements.