Despite a volatile and difficult fourth quarter for the economy, BioImagene, recently announced a record 2008. The company saw a doubling of business volume compared to the previous year, with 50 scanners shipped in the in the fourth quarter alone. Pathologists worldwide scanned and analyzed 25,000 anatomic pathology slides using BioImagene systems during this quarter.
Several economists believe 2009 will continue to be a tough year economically before and my sense is that vendors in the clinical laboratory space and research arena remain optimistic that with some careful planning they can continue to meet their goals.
My own institution has taken steps in terms of planned capital investments, research funding and recruitment of key personnel to meet our goals in this climate. I gather other hospitals face similar pressures and new microscopes or whole slide scanning instruments will need strong justification for acquisition.
Nonetheless, BioImagene was able to secure additional venture funding from Siemens Venture Capital, the successful establishment of a Global Customer Care Center and expansion into European markets before the market downturn in September and years' end. The company also added new reference laboratory customers, as well as hospital customers that are among the Best Cancer Hospitals as ranked by US News and World Reports. Agility Bio – a division of BioImagene Inc, entered into a partnership with Advinus Therapeutics, a TATA enterprise, to provide imaging services in conjunction with preclinical development services offered by Advinus.
Dr. Ajit Singh, CEO, BioImagene observed, “It has been an outstanding year for us and for digital pathology. The current economic climate does not appear to have dampened the demand for digital solutions for anatomic pathology. This bodes well for Digital Pathology as an industry, as well as the future of Personalized Medicine.” Dr. Singh had spoken recently at the California Society of Pathologists where he hailed Digital Pathology as “… the last missing link for enabling Personalized Medicine.”