GAF SIGNED

Project "GAF" data sheet

The following table provides information about the project.

 Partnership

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 Project objective

ADDAX Biosciences is an academic spin-off of the University of Torino, born after long time research activity of its founders on the pathological tissues. Our company goal is to replace the use of Formalin (a cancerogenic solution of formaldehyde) as fixative, while preserving optimal tissue fixation to guarantee correct diagnosis and therapy. In the European Union, Formaldehyde is recognized as a carcinogenic substance, and its use, production and commercialization is prohibited from August 2017. However, at present there is no valid alternative to Formalin accepted by the scientific community to preserve patient specimens. Our project proposes a huge step forward in the fixative market by introducing an innovative reagent, based on acid-free Glyoxal (GAF), that will allow the optimal tissue fixation at structural and molecular level, combined with the absence of toxicity and carcinogenic activity. The addressable market of our GAF product is primarily represented by the healthcare segment, thus the targeted users and clients are public and private entities performing pathology services, such as: Hospitals, Clinics, Emergency Medical Services, Diagnostic Laboratories, Academic Institutes, Forensic Laboratories, CROs, Veterinary Clinics, Labs and Hospitals. Our business model is initially based in two distinct phases: the first one aimed to achieve a controlled production capacity to serve the first customers and finance the further investments; in the second phase, from second year, we expect a faster scale-up through outsourcing production agreements with major European producers of chemical and pharmaceutical products. In this scenario, Addax will retain the R&D, quality, scientific and market development. The objectives of our Feasibility Study are to validate at European level our proof-of-concept and design an updated Business Plan and Commercialization Plan.