A brief description of the product

The CryoHolder is a tool used to improve workflow and efficiency of all lab workers who work with frozen cryo samples. Therefore there is a big potential for collaboration with different laboratories that use such samples. We are searching for distributors who would help us reach such laboratories in China. We have marketing materials that will help in search of distributors and we can provide samples and technical sheets of the product as well. We have solid financing, direct control of the production and great team behind the product, which all contributes to stable supply and fast response time.

Pharsol ltd. Background

Pharsol LTD was founded in 2016 by Miha Rajh. Since then the company has grown from a small company that specialises in pharmaceutical solutions to a multi-brand company that deals in a variety of fields including:

•  CryoHolder - a tool for efficient cryovial transfer
•  bioprocessing equipment. We are a BIONET partner and distributor.
•  spare parts and single-use bioprocessing equipment,
•  The Lab Label - a brand of designer lab coats made from sustainable materials
•  Pharsol Protect - a brand that sells protective workwear

We received different grants and funding from domestic and international authorities to support our projects and work. With it we managed to grow sufficiently and in the last year our net sales exceeded 380.000,00 EUR

The clients we are targeting

• Biobanks,
• All research institutions and laboratories,
• IVF clinics,
• Gene banks,
• Viral laboratories,
• Cell culture laboratories
• Universities of life sciences,
• And all other laboratories that work with frozen material stored in cryovials

A brief description of the product

CryoHolder is a unique tool for a faster, easier and safer transfer of cryovials or cryogenic tubes. It’s shaped like a pen and made out of aluminium, which enables it to work in a temperature range from -190°C to 120°C. You can sterilise it in the autoclave and with disinfectants, which makes it very practical for everyday use

A description of the principle of the product

It works in just four easy steps: you plug the tip of the CryoHolder into the cap of the vial

tube you want to transfer, pick it up, move it to the desired location and release it by pressing the button on the top of the tool.

The range of applications

The CryoHolder can be used for every process that involves frozen biological material in vials or tubes: biobank inventory, transferring vials from the freezer to your workbench or searching for specific samples. It is really useful when you need to move a specific vial from the cryobox.

Self-positioning in the market

The CryoHolder is a must-have tool for the biobanking, genebanking, IVF, biopharmaceuticals and bioprocessing industries

Competitive advantage

The CryoHolder is better than it’s competing product because:

• It ensures a safe transfer without the vial/tube falling off the tool
• It enables a lot faster transfers
• The user’s hands are safe and protected from frostbites
• It’s made of aluminium and therefore can be sterilised at high temperatures (competitors’ products are made of plastic)
• It’s a universal fit for all major vial providers’ vials

Furthermore we have really fast production times and therefore can fulfill large orders in a matter of days. We can also offer the modification of our tool to fit any vials that do not already fit to CryoHolder.

Potentials and challenges

Potentials:

• Our tool saves the user a lot of time and effort and therefore optimises the work process - making it a must-have tool for everyone who works with liquid nitrogen stored samples.
• Each version of the tool fits many different vial types and therefore gives laboratories possibility to work with different vials and vial producers
• There are many different vials on the market which we can modify our tool to fit with them. We believe that many Chinese vial producers could be a potential partner for us.
• Chinese market has its own characteristics, and someone who has good knowledge of it could sell the CryoHolder with much better success than if we try ourselves.

Challenges:

• Reaching potential customers can be challenging, as each laboratory or institution has a different hierarchy of decision-makers and it’s harder to make a universal strategy for contacting them
• There are many different cryovial manufacturers and therefore we need to figure out to which of them our tools fit
• How to reach smaller laboratories, which are a perfect fit for us, but harder to get in touch with.

Forecast of market-facing opportunities

• The market is expanding all the time. Biotechnology and life science industries are still one of the hottest, most booming industries. We are looking at 5-10% market growth per year.
• We are expanding our network of distributors monthly, with main focus on Western European countries, where we are gaining a foothold and expanding our market presence.
• We are in talks with different cryovial producers to start partnerships that would enable us to offer our tool directly to the buyers of their cryovials.

Models of cooperation or types of partners being sought

• We are mainly looking for distributors for the Chinese market or someone who’d licence the product from us and sell under their own brand.
• We can supply you with any needed marketing materials for achieving such goals.

The specific project objectives expected to be achieved

•  At least three contract deals with Chinese distributors of lab and bioprocessing equipment

Breakdown of investments

So far we have received:

• A grant for 54 000 € (Slovene Enterprise Fund)
• A convertible loan for 75 000 € (Slovene Enterprise Fund)
• A grant for 75 000 € (EIT Health)

Contract details

Miha Rajh

Pharsol Ltd.

Vreclova 2 2311 Ho?e Slovenia

Tel.: 00386 40 945 959

Email: miha.rajh@pharsol.com