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14 Apr Annual report 2013/14 – A Great Leap Ahead

Aquaporin > News > Annual report 2013/14 – A Great Leap Ahead

ANNUAL REPORT 2013/14 – A GREAT LEAP AHEAD

During the fiscal year 2013/14, Aquaporin A/S, a subsidiary in the M. Goldschmidt Holding Group, successfully entered into its first strategic commercial partnership with two Chinese partners, Heilongjiang Interchina Water Treatment (Interchina) and Poten Environment (Poten).

As part of the partnership agreement, Interchina and Poten become minority shareholders in Aquaporin, and in collaboration with Poten and Interchina, Aquaporin A/S will establish a joint venture company in 2015 in China, named Aquapoten,. Aquapoten will become the commercialisation arm of the Aquaporin InsideTM technology into the Chinese market, and will secure future revenue streams to Aquaporin A/S in terms of both upfront and milestone payments, as well as future royalty payments and profit sharing. Aquapoten expects first sales of Aquaporin Inside™ membranes in 2015 in China. Combined transactions under the partnership agreement amount to approx. 150 million DKK.

Further strengthening of patent and trademark position
The patent portfolio continues to develop very positively with the approval of additional patents, such that Aquaporin A/S now holds +50 issued patents worldwide. The unique patent portfolio held by Aquaporin was acknowledged by the European Patent Office in June 2014, when Aquaporin A/S was awarded the European Inventor Award 2014 and named the most innovative small/medium sized entity in Europe by the European Patent Office.

Strengthened technology platform
The future technological developments have been secured through 2020 with several new, high-profile public private partnerships co-funded by the Danish National Advanced Technology Foundation, the Danish Innovation fund, and the European commission development programme, Horizon 2020.

Aquaporin’s subsidiary Aquaporin Asia Ptd. Ltd. in Singapore has during the fiscal year 2013/2014 additionally been awarded two new public private partnerships co-funded by development funds from the Singaporean government.

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Accelerated commercial ambitions
In 2015, the overall focus and primary objective is to develop Aquaporin into an expansion-oriented company rooted in R&D and cutting edge innovation.

Aquaporin A/S plans to relocate to a new headquarter in 2015, where large-scale production of Aquaporin Inside™ membranes will be established. The technological focus will therefore be on upscaling in 2015, and the commercial and business development focus will be to enter into at least one new strategic commercial partnership agreement in 2015.

Chairman of the Board Søren Bjørn Hansen states – “As anticipated, 2013/2014 became ground-breaking for the commercial development of the company with the closing of our first major strategic partnership. We have found the best possible setup with the strategic alliance with Interchina and Poten in China. Furthermore, we raised a substantial amount of cash to be deployed to further strengthen the global potential of Aquaporin’s technology and bring the 1st generation of products to the market.”

“The goal for the fiscal year 2015 is to enter into at least one new commercial strategic partnership agreement, set up mass scale production capacity in Denmark and in China, and get the products ready for the market”, states CEO Peter Holme Jensen.

Main figures
In 2013/2014, Aquaporin realised a loss of 7,8 million DKK as a result of its ongoing research and development activities (2012/2013: 10.5 million dkr). Aquaporin’s equity totalled 107.3 million DKK by year-end.

Subsequent events
Following the end of fiscal year 2013/14, Danica Pension has been introduced as minority shareholder in Aquaporin.

For further information:
CEO Peter Holme Jensen, phone +45 82 30 30 82.

Read the full press release in English here and in Danish here.