Inify Laboratories - Successful laboratory launch in Q2 with delivery of first prostate cancer diagnosis
STOCKHOLM - August 23, 2023 - Inify Laboratories, a unique laboratory service that provides cancer diagnostics within pathology, successfully launched in the second quarter 2023.
“We launched our laboratory service in mid-June, completely according to plan. The interest is high, and we already see the first revenue streams,” says CEO Fredrik Palm at Inify Laboratories.
Since the opening, the response time – from the collection of samples until the customers have an electronically structured, easy-to-read report – has been well within the promised time.
“The secret behind our short, predictable response times – a major challenge for many laboratories – is that we have had the opportunity to build our laboratory from scratch, with a common goal: to create tomorrow's laboratory, offering world-class cancer diagnostics,” says Laboratory Manager Emelie Edvigsson at Inify Laboratories.
The company has entered into several strategic partnerships, one with the Swedish branch of Loomis. Loomis is a global value transport company responsible for transport of samples from clinics to Inify’s laboratory, as well as storage and distribution of packaging materials.
“During the period, we have started collaboration with important partners, with whom we signed agreements earlier in the year. These partnerships strengthen our offer while demonstrating our innovative way of thinking,” says Palm.
Inify’s close dialogue with clinics during the setup phase has been instrumental for starting the revenue flow. Customers were well prepared, and several of them sent samples as soon as the service was launched.
“Ever since the launch, we have continuously received biopsies for sample preparation and diagnosis, which serves as initial proof that the Inify business model works,” says Palm.
For further information, please contact CEO Fredrik Palm, fredrik.palm@inify.com, or visit https://www.inify.com.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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About Inify Laboratories
Inify Laboratories provides cancer diagnostics through ultramodern laboratory services within pathology. It uses a fully digital, standardized and AI- supported workflow to optimize quality and response times, initially within prostate. The concept is scalable and can be extended to other diagnoses. The service includes the whole chain of sample handling: from logistics, to sample preparation, to reporting by a pathologist from either Inify Laboratories or the customer's organization. The diagnosis is assisted by our own AI, proven in clinical studies to have world-leading accuracy. The complete workflow is supported by a tailor-made process control system.
The company, based in Sweden, became independent in 2022 through a spin-off from ContextVision, with 40 years of experience within digital imaging for medical applications. It is listed on Euronext Growth Oslo under the ticker INIFY.