2024-07-09
In this interview with CEO Tomas Gustafsson, PExA's technology for non-invasive sampling from the small airways of the lungs is discussed. Tomas explains how the company's instrument offers new research opportunities and future diagnostic tools for lung diseases. He also emphasizes the strategic importance of the ongoing issue of 7.4 million SEK to expand marketing based on the good results continuously generated from users. PExA's vision is to revolutionize the detection and treatment of lung diseases globally.
Can you tell us a little about yourself and your background?
My name is Tomas Gustafsson and I work as CEO at PExA, which I came across in 2022 and was very impressed by the company's potential and the prestigious clients they work with. My background is from the mechanical engineering program and the Chalmers School of Entrepreneurship at Chalmers in Gothenburg. Before joining PExA, I ran Micropos Medical for 17 years, a company within radiotherapy for prostate cancer that I co-founded in 2003.
Can you describe PEXA and your business?
PEXA has developed a unique instrument for non-invasive sampling from the small airways of the lung, where many lung diseases begin. This enables new research opportunities and potentially new diagnostic tools.
What does your business model look like?
We sell and rent instruments to researchers, hospitals and pharmaceutical companies globally. We have users in ten countries and in the short term we are striving towards a rental model to get more predictable revenues and we are striving to move towards offering more consumables and biochemical analyses. In the long term, the goal is to offer diagnostic instruments in a global market that can completely change the conditions for detecting and treating lung diseases.
You are currently carrying out a share issue of approximately SEK 7.4 million. What will you use the capital for?
We will use the capital for marketing and reaching more customers through participation in international congresses and focus on moving towards diagnostics based on new research results.
What are the biggest risks for PEXA?
The biggest risks include financing until we become profitable and potential competition from other technologies. We operate cost-effectively with a small organization of three people and have several patents protecting our unique technology and additional patent applications in progress.
How big is PExA's addressable market?
PExA has two main markets: research instruments and future diagnostics. We rent and sell instruments to lung researchers globally, with approximately 30 units in use today. WHO reports that lung diseases are the third most common cause of death with over five million deaths annually. There are approximately 10,000 lung research institutions, of which 1,500 are actively searching for biomarkers and who may have a direct interest in the instrument. Healthcare is moving more and more towards increased individualization, so-called precision medicine, and through PExA's unique non-invasive sampling, individuals can be followed with many samples over time, which means that disease changes can potentially be detected much earlier than today. This monitoring capability, together with our long-term goal of moving towards diagnostic applications in, for example, lung cancer, means that the market size increases significantly.
Why should you invest in PEXA?
PEXA has the potential to change the way lung diseases are detected and treated. We have an innovative product and scientific results that create a strong foundation for growth and future diagnostic applications. The PExA method also has strong support from the Swedish Cancer Foundation for lung cancer studies at Lund University, with the goal of screening, diagnosing and following up lung cancer, which is expected to increase the use of PExA's instrument.
We thank Tomas Gustafsson for the interview and wish PExA great success in the future.
Disclaimer:
This is an interview that has been done on behalf of the company. Impala Nordic or people behind Impala Nordic owns no shares in the company at the time of the interview.
