Periodic Reporting for period 1 - TechTissue (TechTissue - Validate human-based 3D in vitro models for accurate drug discovery and development towards a successful market entry)
Reporting period: 2022-06-01 to 2023-05-31
Metatissue is a company focused on designing and manufacturing human protein-based products that find application in cell culture, tissue engineering and regeneration and disease modelling. Our biomaterials provide realistic microenvironments for cell culture allowing for greater cell-to-cell and cell-to-matrix interaction resemblance, thereby increasing the accuracy of in vitro studies. The extracellular matrix of living tissues is composed by a great diversity of structural proteins and bioactive factors. For this reason, mimicking its function in vitro continues to be a big challenge. Our strategy is to use ethically sourced human proteins to produce the next-generation of xeno-free biomimetic 3D cell culture platforms.
Despite the potential of our technology, Metatissue faced some challenges related to their lack of business skills and capacity. In order to overcome these obstacles and bring their technology to market, Metatissue applied for the TechTissue project.
The TechTissue project is a comprehensive initiative that aims to provide Metatissue with the resources and support necessary to develop a successful business strategy and commercialize our technology. With the help of this project, Metatissue intended to conduct an in-depth market analysis report (focused on competition, customers, potential partners, and business opportunities), carry out a product feasibility study, and mature our commercial strategy and market plan.
Ultimately, this project will enable us to develop a clear business strategy that will guide our efforts towards sustainable growth and success.
Despite the potential of our technology, Metatissue faced some challenges related to their lack of business skills and capacity. In order to overcome these obstacles and bring their technology to market, Metatissue applied for the TechTissue project.
The TechTissue project is a comprehensive initiative that aims to provide Metatissue with the resources and support necessary to develop a successful business strategy and commercialize our technology. With the help of this project, Metatissue intended to conduct an in-depth market analysis report (focused on competition, customers, potential partners, and business opportunities), carry out a product feasibility study, and mature our commercial strategy and market plan.
Ultimately, this project will enable us to develop a clear business strategy that will guide our efforts towards sustainable growth and success.
This project primarily focuses on the market aspect of Metatissue's technology. However, as part of TechTissue, Metatissue conducted a Product Feasibility study, examining the characteristics and regulatory aspects of both PLMA and AMMA.
This meticulous examination provided us with invaluable insights into the technical decisions necessary to manufacture materials that not only meet stringent regulatory requirements but also uphold ethical and commercial considerations. Armed with a wealth of detailed information on raw materials, we were able to proactively address the legal and ethical demands of our industry, ensuring compliance and fostering trust among stakeholders.
By dedicating careful attention to regulatory aspects, we successfully identified and surmounted potential obstacles that could hinder the commercialization of our technology. This proactive approach allowed us to refine our production processes, ensuring the highest standards of quality and efficiency. Consequently, we have solidified our position in the market and laid a sturdy foundation for future success.
This meticulous examination provided us with invaluable insights into the technical decisions necessary to manufacture materials that not only meet stringent regulatory requirements but also uphold ethical and commercial considerations. Armed with a wealth of detailed information on raw materials, we were able to proactively address the legal and ethical demands of our industry, ensuring compliance and fostering trust among stakeholders.
By dedicating careful attention to regulatory aspects, we successfully identified and surmounted potential obstacles that could hinder the commercialization of our technology. This proactive approach allowed us to refine our production processes, ensuring the highest standards of quality and efficiency. Consequently, we have solidified our position in the market and laid a sturdy foundation for future success.
The results of the TechTissue project have had a transformative impact on Metatissue's market uptake. The project not only provided valuable data and insights but also offered crucial mentorship support, empowering the company to effectively prepare for its next stage and successfully enter the market with a well-defined strategy. Thanks to the project's contribution, Metatissue has already achieved its first sales milestone and is now poised to launch an exciting new product.
Furthermore, the project has allowed Metatissue to expand its team and hire a new employee with a background in management and finance. This addition strengthens the company's capabilities and provides valuable support to Catarina, the CEO, in driving strategic decision-making and financial management. With this enhanced expertise, Metatissue is better positioned to navigate the complexities of business development, funding acquisition, and overall growth.
However, to ensure continued uptake and success, Metatissue needs to take further key steps. This includes implementing the business plan, reinforcing the business development team to properly execute the strategy, and initiating internationalization efforts. Additionally, the company needs to secure funding to support the hiring of new personnel and the marketing and business development efforts required to achieve these objectives.
Furthermore, the project has allowed Metatissue to expand its team and hire a new employee with a background in management and finance. This addition strengthens the company's capabilities and provides valuable support to Catarina, the CEO, in driving strategic decision-making and financial management. With this enhanced expertise, Metatissue is better positioned to navigate the complexities of business development, funding acquisition, and overall growth.
However, to ensure continued uptake and success, Metatissue needs to take further key steps. This includes implementing the business plan, reinforcing the business development team to properly execute the strategy, and initiating internationalization efforts. Additionally, the company needs to secure funding to support the hiring of new personnel and the marketing and business development efforts required to achieve these objectives.