European Institute of Science AB

Publiceret Januar 2001

Creativity and the never-ending search for knowledge will always be the basis on which our human civilization is anchoring its hopes for a better world. In particular, creativity is a unique and delicate process, which requires substantial encouragement and support. Dr Dario Kriz, CEO and founder of the company, has a background as a scientist and an inventor witch has encouraged him to build up a structure that enables others to realize their creative ideas. The Institute has resources to conduct research and development at a professional level within applied biotechnology and medical technology. Since its foundation in 1990 several unique patented methods have been invented at the Institute.

The European Institute of Science is currently listed on the SBI stock exchange in Stockholm. A total of 3 million shares are distributed among more than 500 shareholders.

The shareholders are individually offered to enter into new projects jointly with the Institute. Currently, the Institute and its shareholders posses shares in the following companies: CHEMEL Inc., IMPLEMENTA HEBE Inc., GENOVIS Inc. and LIFEASSAYS Inc. The strategy of the Institute is to expand its company portfolio and to commercialize advanced scientific niche products for worldwide research.

The magneto immunotherapy project

A research project called magneto immunotherapy is ongoing at the Institute. The long-term goal is to develop new types of pharmaceuticals and instrumentation for alternative treatment of diseases such as cancer or infections. Specially designed magnetic particles are selectively targeting cells or invading bacteria, and a subsequent destruction is achieved using an external alternating magnetic field. In contrast to conventional therapy, the immune defense and well being of the patient is not expected to be affected. Two patent applications have been filed focusing on the therapeutically active magnetic particles and construction of the magnetic field generator.

What makes the European Institute of Science a unique center of excellence is its competence in research, international networking and its laboratory/prototype workshop facilities. This enables new ideas to be rapidly developed and evaluated. Some current projects and products are listed below.           

New synthetic antibodies

Development of various synthetic biomolecules, which have a commercial use, using techniques such as molecular imprinting and phage display libraries is ongoing.

External projects in our labs

We are continuously contacted by researchers that would like to develop projects in our laboratories. Unfortunately, such projects must be kept confidential.

Magnetic Permeability Products

The Institute has developed and manufactures instruments and paramagnetic fluids for research and laboratory use. A magnetic permeability meter, MPM 100, will be made commercially available during spring 2001. The instrument can determine the magnetic permeability of any substance by measuring the inductance change of an internal coil. Some of the paramagnetic fluids have been already offered for sale since winter 2000.

The Institute provides incubation facilities and support services for researchers and small companies that possess promising ideas.

The strategy is to enter into the projects at a early stage while the projects are still in their conceptual phase. In return the researcher has access to research facilities and the competence available within the Institute. The final commercial exploitation is performed in separate spin-off companies with the researcher and entrepreneur-to-be as the majority owner and with the focus on the introduction of the company to the stock exchange.

The Institute offers

  • Its competence in research
  • Laboratory facilities
  • Prototype/workshop facilities
  • Economical and legal advice
  • Assistance with patent and trademark applications
  • Seed capital

The Institute has part ownership or options for shares in the following companies. The shareholders of the European Institute of Science have the possibility to invest directly in a specific company. 

Chemel Inc.

Chemel Inc. was founded in 1997 as a spin-off company from the European Institute of Science. The Institute owns 7% of the company, via shares (0,4%) and options  (6,6%). 

Business idea

Chemel is developing, marketing and selling the patented electrochemical analytical instrument, the SIRE® Biosensor, to the pharmaceutical, food & beverage and forest industry, globally.

Chemel will develop software and new applications (in vivo needle sensors) within the SIRE® Biosensor concept.

Technology and patents

The operational principle of the SIRE® Biosensor is based on the use of special enzyme reagents. During each measurement a small aliquot of enzyme is transported to the end of the sensor probe (reaction chamber) where it reacts with the analyte and yields an electrical signal that accurately correlates to the concentration of the analyte.

Patents have been granted in the US and Sweden.

Market

Chemel has signed a global distribution and cooperation agreement with Diffchamb Inc. concerning the SIRE® Biosensor. The world market for this kind of chemical analyses for the food & beverage industry alone is estimated to a value of 60 million US$. Diffchamb and Chemel expect to take a market share of approximately 20% within 3-5 years.

Company name: Chemel AB (priv)
Year of incorporation: 1997
Shares (total): 233,300
Shares (Institute):2 1,000 + 15,330 (options)

Genovis

Genovis was founded in 1999 by Dr. Sarah Fredriksson in co-operation with the European Institute of Science. The Institute has contributed with financial and technical support. European Institute of Science owns 20,7% of the company.

Business idea

The business idea is to develop, manufacture and market the MagnetoPore? technology, which will provide scientists worldwide with a new reliable tool for the transportation of molecules in and out of living cells.

Technology and patents

The technology comprises special magnetic reagents, which attach to cell surfaces and create pores when exposed to magnetic fields. Presently a prototype has been developed and a worldwide patent application has been filed.

Market

The market for molecular biology correspond to 38 % of the total market for biochemical research reagents, which is estimated to reach a value of 3.3 billion US$ in Europe during 2003, according to Frost and Sullivan in European Biochemical Research Reagent Markets (#3323-53). The MagnetoPore? technology will be marketed as a kit and is initially expected to reach 1 % of the total market with a future potential of 3-5 %. This 1 % of the market for molecular biology reagents corresponds to approximately 12 million US$ in Europe. 

Genovis was founded in 1999 by Dr. Sarah Fredriksson in co-operation with the European Institute of Science. The Institute has contributed with financial and technical support. European Institute of Science owns 20,7% of the company.

Company name: Genovis AB (priv)
Year of incorporation: 1999
Shares (total): 1,256,000
Shares (Institute):2 260,000

Implementa Hebe

Implementa Hebe was founded in February 2000 as a spin-off company from the European Institute of Science. The Institute owns 34,3% of the company and is entitled to an annual royalty of 5%.

Business idea

The business idea of Implementa Hebe isto produce, market and sell CoolHeater?, a patented magnetic stirrer.

Technology and Patents

Implementa Hebe has developed a magnetic stirrer that can both cool and heat liquids during stirring.

Three prototypes were developed and evaluated during 2000. The production of a test series consisting of 20-30 instruments is in progress and will be used for test marketing. The final commercial exploitation will take place in 2002.

A patent has been granted in Sweden.

Market

The technology is unique since there is no other magnetic stirrer on the market that can both heat and cool and this versatility is expected to be of great importance within research and laboratory activities.The customers will be found among researchers in bio and medical technology as well as in hospitals and universities.

The European market for the CoolHeater? is estimated to be more than 10 million US$.

Company name: AB Implementa Hebe (priv)
Year of incorporation: 2000
Shares (total): 1,430,000
Shares (Institute):2 490,000

LifeAssays

LifeAssaysTM was founded in the fall 2000 as a spin-off company from the European Institute of Science. The Institute owns 100% of the company and is entitled to an annual royalty of 2%.

Business idea

The business idea of LifeAssaysTM is to develop, market and sell the patented Magneto ImmunoAssay ReaderTM and disposable reagent vials for fast and easy determination of cancer markers, acute phase proteins and hormones found in blood samples.

Technology and Patents

The operational principle is based on the use of extremely small magnetically susceptible particles that are covered with antibodies, enabling the particles to interact specifically with cancer markers, acute phase proteins and hormones in blood. A prototype for fast and accurate determination has been developed.

A patent has been granted in the US.

Market

Initially, LifeAssaysTM will focus on the development of a reagent for the point-of-care market. Point-of-care diagnostics is the fastest growing segment within the in vitro diagnostic markets representing a 1 billion US$ market with 11% annual growth. Our long-term strategy is to establish the Magneto ImmunoAssay Technology on the word immunoassay market. The worldwide sales potential for the Magneto ImmunoAssay reagents is in the range 100 - 500 million US$.

Company name: Lifeassys AB (priv)
Year of incorporation: 2000
Shares (total): 10,000,000
Shares (Institute):2 10,000,000