Bio-Works Chairman Peter Ehrenheim: “Significant Changes for Success and Profitability”

At Bio-Works’ Annual General Meeting on May 24, Chairman of the Board Peter Ehrenheim addressed the company’s shareholders and employees with an evaluation of the company’s operations and future direction:

“It is no secret that Bio-Works has not developed according to the expectations set by the board  over the past year. We have faced several challenges that have affected upon our growth and profitability”, said Ehrenheim. He emphasized that despite these challenges, the board strongly believes in Bio-Works’ business-idea and its potential for success.

Ehrenheim highlighted: “Bio-Works has a robust product platform based on a technology that is proven yet unique. Our conviction is reinforced by past experiences and interactions with industry peers. Consequently, the board has initiated significant changes, and we now look forward with renewed energy and determination.” These changes are aimed at improving efficiency and ensuring more predictable and stable growth.

Ehrenheim also stated that management will now focus on increasing operational efficiency. “We know that our products are very well-suited for the purification of oligonucleotides and peptides. This is where our strength lies, and this is where we can create the most value by actively driving sales in a rapidly growing niche”, he emphasized.

“We have today close to 20 customers that in commercial production, among others, as we have communicated previously, Reliance Life Sciences of India, Catalent Biologics of USA and Nemysis of Ireland, and approximately some 100 customers in process development,” informed Ehrenheim.

“Thus, Bio-Works will implement a systematic sales process and improve our touch with key customers. We want to avoid surprises and ensure that our customer relationships are strong and predictable”, Ehrenheim concluded.

Ehrenheim’s full speech at the meeting can be found here:
Address by Peter Ehrenheim BW AGM 24 May 2024

Contacts
For more information, please visit the Bio-Works homepage at, www.bio-works.com or contact: Peter Ehrenheim, Chairman, e-mail: peter@farjsundet.se, phone: +46 (70) 667 5711.