Genetic Engineering & Biotechnology News

OCT15 2017

Genetic Engineering & Biotechnology News (GEN) is the world's most widely read biotech publication. It provides the R&D community with critical information on the tools, technologies, and trends that drive the biotech industry.

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Genetic Engineering & Biotechnology News | | OCTOBER 15, 2017 | 7 at no charge. "Users are entitled to the lat- est versions, although we strive to maintain backwards compatibility," Furey says. "To get our software updates, users need to con- tact PendoTECH to get the link to the down- load site." PendoTECH, unfortunately, lacks a way to push software updates out to its users or to alert them to updates. "Large companies may have 15 of our lab automation systems and just as many users. There's no way to update all the systems at once and no effective way to alert users to updates," he says. "Newsletters have open rates of 10–15%. We went back a few years to track users, but many have moved to other positions or don't respond." That situation seems not to have slowed company growth. That was caused by the recession of 2008–2009. Disposables Trend Created Opportunity Around 2004–2005, single-use technol- ogy was trending, which reduced process- system complexity by eliminating the need to clean- or steam-in-place. "We were looking at gaps in the market, focused on single-use applications," Furey recalls. Initially, the company focused on single-use technology implementation consulting, but soon moved to the development of single-use pressure sen- sors. Early customers included Thermo Fisher Scientific and Xcellerex (now a part of GE). To provide a steady, early, revenue stream, the company also provided consulting for single-use implementation. A contract with Bristol-Myers Squibb provided a major boost. "But, it's hard to consult and have your own products to recommend," Furey points out. He closed the consultancy to fo- cus on product development. By 2008, the company was coming to- gether, and sales were growing. Then, toward the end of the year, "Sales stopped. Cash flow stopped. In fact, everything seemed to stop," Furey recalls. The United States entered one of its worst recessions since the Great Depression. At that point, "We got some leveraged financ- ing from some key suppliers who stretched out our payments because they believed in what we were doing. We also sought knowledge- able angel investors who could supply ad hoc advice. They're still shareholders." In 2010, the economy began to rebound and, with it, PendoTECH. He says average growth rates have exceeded 30% each year since then. That growth is the direct result of strong customer relationships. "You listen to them, and they come back. Regular commu- nication leads to continuous improvement that makes products more valuable. We're challenged by customers, and they're willing to try things," Furey says. Soon, one of those innovations may be a conductivity and temperature sensor. "We're looking to place one on the outside wall of storage bags to measure bag contents," Furey states. Adding that the major OEMs— who would actually affix the sensor—sup- port the idea. PendoTECH's future will be rooted strongly in its past. As bioprocessing grows globally, the need for innovative solutions also will grow. The company is positioning it- self to respond, by listening closely to its cus- tomers. New geographical markets will be part of that future. "We're looking to grow a stronger presence in Asia," Furey says. FormaPure DNA Reagent Kit Biomek i5 Automated Workstation CHALLENGING SAMPLES CAN WEAR YOU OUT. TAKE THE LABOR OUT OF YOUR LABORATORY. Beckman Coulter Life Sciences Biomek Automated Workstations and genomic reagent kits are not intended or validated for use in the diagnosis of disease or other conditions. © 2017 Beckman Coulter, Inc. All rights reserved. Beckman Coulter, the stylized logo, and the Beckman Coulter product and service marks mentioned herein are trademarks or registered trademarks of Beckman Coulter, Inc. in the United States and other countries. The manual labor required for FFPE extraction workflows can wear a team down. But now, our easy-to-implement FormaPure DNA reagent kit can be used manually or paired with our Biomek Automated Workstations to extract nucleic acid from challenging samples more efficiently. Sample quality and yield are maximized, while hands-on time can be reduced to just 15 minutes when automated—six times faster than the closest competitor's solution. Take your next step away from the bench at Corporate Profile PendoTECH Location 174 Nassau Street, Suite 256 Princeton, NJ 08542 Phone 609-799-2299 Website Principal Jim Furey Founder and General Manager Number of Employees Confidential Focus PendoTECH develops a range of sensors and lab automation systems for bioprocess controls for the biotech and biopharmaceutical industry. Vital Signs

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