The work completed in the Phase 1 Feasibility study has developed uFraction8‘s commercial vision for the HuMBLES and preparation for market launch.
The Phase 1 grant has enabled us to complete an in-depth market study, on completion of which, having reviewed and analysed the data collected, we conclude that there is a viable market opportunity for HuMBLES initially in downstream processing of bioreactor products followed by classification and dewatering for waste treatment applications. We will continue to watch the progress of the market for bioprocessing for therapeutic protein development as it matures for HuMBLES. From our contact with Algaceuticals, Industrial Phycology, MiAlgae, Xanthella, Bio-Rad Pharma, SABANA, and SUEZ; we have already begun developing what is likely to become our initial route to market.
Whilst the aim is for the HuMBLES to be sold to the users of bioseparation systems, we first need to convince them of the technology so we will be required to build a number of prototypes in partnership with the subcontract bespoke sub systems manufacturers this during the phase 2 project. We have successfully mapped out the supply chain for hardware and testing providers to enable us to offer HuMBLES for in house testing. We have also confirmed the interest of several end users who are keen to commence end user trials.
In planning the further development programme for HuMBLES, we gained a clear understanding of the work required to develop to TRL9. We have built a work plan that is manageable, affordable and realistic to achieve. During the preparation of the Phase 2 proposal, it is envisaged that further refinements will be made to the structure and cost, to deliver a robust plan for scale-up and commercialisation.
The wider market is large enough to support more than one competing solution, therefore we consider that the threat of competing viable alternatives also reaching the market does not constitute a major barrier to successful commercialisation by uFraction8 (though this is an area that must be monitored to assure the sustainability of the business). As a result of this Phase 1 project, we have been able to review our business strategy, and to construct a robust business plan, with realistic and achievable financial forecasts. uFraction8 will therefore proceed with our plans to reach market as soon as possible, in order to capitalise on timing of key market drivers, and establish HuMBLES as the technology of choice for the Bioseparation market, and to bring our business plan to fruition.
