Periodic Reporting for period 1 - TechnocaP (Innovative technology for capsule filling machines to boost the pharmaceutical manufacturing process)
Reporting period: 2018-02-01 to 2018-05-31
With TechnocaP, our company MG2 aims to launch an innovative weighting control technology for capsule filling machines. TechnocaP technology aims to achieve the high capsule filling requirements needed for pharmaceutical manufacturing, while enabling in real-time continuous data collection, analysis and interpretation to be used in production and quality control activities in the pharmaceutical industry. TechnocaP capsule filling machines will be capable to significantly improve productivity, flexibility and quality of production for pharmaceutical companies, while achieving the strict and ever-increasing regulatory requirements within the industry.
During the SME Instrument Phase 1, we covered the technical, commercial and financial feasibility of TechnocaP.
In the first part, we analysed the status of the technology validation and performed some initial tests in real conditions after prototyping. As a result, we defined the work plan for the development of the new features into MG2 capsule filling machines for Phase 2.
In the second part, a summarized analysis of the target markets is presented for the main applications of TechnocaP in the pharmaceutical packaging market. The competing solutions and companies are introduced, and the value chain is shown. We included an update as well on the commercialization plan. The IP management strategy is explained and the results of the Freedom to Operate are summarized.
In the third part, a summary on the financial viability assessment is shown that establishes the budget necessary for the development of the MG2 machines, and the revenues and expenses projections for the next five years.
Finally, a brief risk analysis is included, covering commercial, technical, financial and legal risks.
In the first part, we analysed the status of the technology validation and performed some initial tests in real conditions after prototyping. As a result, we defined the work plan for the development of the new features into MG2 capsule filling machines for Phase 2.
In the second part, a summarized analysis of the target markets is presented for the main applications of TechnocaP in the pharmaceutical packaging market. The competing solutions and companies are introduced, and the value chain is shown. We included an update as well on the commercialization plan. The IP management strategy is explained and the results of the Freedom to Operate are summarized.
In the third part, a summary on the financial viability assessment is shown that establishes the budget necessary for the development of the MG2 machines, and the revenues and expenses projections for the next five years.
Finally, a brief risk analysis is included, covering commercial, technical, financial and legal risks.
MG2 has analysed the technical risks of the project considering the work necessary to advance the TRL and planed possible actions to minimize the impact. During the project, main innovations of the project will be implemented in parallel in two different models of capsule filling machines to minimize risks. Afterwards, innovations will be integrated following our flexible modular strategy.
TechnocaP will have an important impact in our business plan, expecting to increase more than 60% our market share push by our commercial department, US filial and extend network of 32 agents in 60 countries. During the Feasibility Study, we have estimated that we can grow the company to more than 230 employees, more than 30% growth rate. With a total investment of 1.8 million €, we expect a quick payback time after less than 3 years. MG2 will have a direct economic and social impact, strengthening the position of European companies in the capsule filling machine industry
TechnocaP will have an important impact in our business plan, expecting to increase more than 60% our market share push by our commercial department, US filial and extend network of 32 agents in 60 countries. During the Feasibility Study, we have estimated that we can grow the company to more than 230 employees, more than 30% growth rate. With a total investment of 1.8 million €, we expect a quick payback time after less than 3 years. MG2 will have a direct economic and social impact, strengthening the position of European companies in the capsule filling machine industry