Investment Thesis

Aegros HaemaFrac® - Transforming Plasma Fractionation with Revolutionary Efficiency and Innovation

Aegros HaemaFrac® uses an electric field to move tiny, charged particles called ions. These ions help carry proteins from one side of a membrane to the other, into a collection area. This setup allows us to quickly and efficiently gather specific plasma proteins with high purity and in large amounts, making the whole process fast and effective.
Aegros HaemaFrac® harnesses an electric field to guide ions (small, charged particles) in a specific direction. When these ions move in response to the electric field, they help transport plasma proteins across a special membrane. Think of the electric field as a "push" that encourages ions—and the proteins they help carry—to pass through this membrane, from one side to the other.
On the other side of the membrane is a collection area, or chamber, where the proteins are gathered. Because of this precise setup, we can focus on isolating specific plasma proteins, ensuring that what we collect is highly pure and available in larger amounts. This approach is both fast and efficient, allowing us to produce high-quality plasma proteins in a fraction of the time required by other methods. This benefits plasma buyers by providing a reliable source of high-yield, high-purity proteins in a quicker, more streamlined process.

The demand for plasma

The Global Demand for Plasma and Plasma Proteins

The demand for plasma-derived therapies has seen unprecedented growth over the last decade, driven by their essential role in treating immune deficiencies, bleeding disorders, and a wide array of infectious diseases. However, with this increasing demand comes the pressing need to improve efficiency and yield in plasma fractionation processes to ensure global supply. Traditionally, plasma fractionation has relied on the Cohn method, developed in the 1940s by Dr. Edwin Cohn. Despite its longevity, this method has significant limitations regarding yield, process complexity, and the preservation of protein functionality. Aegros’ HaemaFrac® technology presents a paradigm shift, addressing these limitations through a modern approach that offers superior yields, reduced process steps, and increased protein activity.

The Cohn process

Limitations of the Cohn Plasma Fractionation Process

The Cohn process has been the industry standard for decades, based on cold ethanol fractionation, which isolates proteins by adjusting the alcohol concentration, temperature, pH, and ionic strength. Although effective, this method is labor-intensive, time-consuming, and prone to loss of valuable plasma proteins. Key challenges with the Cohn process include:

Low Yield Efficiency

Significant amounts of valuable proteins are often lost in each fractionation step, limiting the yield of therapeutic plasma products.

Protein Denaturation

The harsh conditions of cold ethanol fractionation can damage sensitive proteins, reducing their effectiveness and limiting the purity of the final product.

Complex and Costly Infrastructure

Cohn fractionation requires multiple processing stages, highly controlled environments, and specific equipment, making the setup complex and capital-intensive.

These limitations highlight the need for a more modern approach to plasma fractionation, especially as new therapeutic uses for plasma proteins continue to emerge. The biopharmaceutical industry is ripe for disruption, and HaemaFrac® is at the forefront of this transition.

Breakthrough plasma fractionation technology

The Innovation Leap: HaemaFrac® as the "Microprocessor" of Plasma Fractionation

HaemaFrac® is a breakthrough plasma fractionation technology with the potential to revolutionize the industry. Conceived by Dr. Joel Margolis in the late 1970s and first prototyped in 1984, HaemaFrac® technology evolved with advancements from Drs. Nair and Wang, who developed Tangential Flow Electrophoresis (TFE) in the late 1990s. By 2016, HaemaFrac® was fully implemented in Singapore’s PrIME Biologics, the world’s first cGMP-certified facility to incorporate the technology in a commercial plasma fractionation setting.

HaemaFrac® offers distinct advantages over the status quo, which is theCohn process:

Enhanced Protein Yield and Activity: HaemaFrac® provides approximately twice the therapeutic yield per liter of plasma compared to Cohn fractionation. Its gentle processing approach reduces the denaturation of proteins, preserving their biological activity and effectiveness. This capability is especially critical in the production of hyperimmune products like COVID-19 convalescent plasma, where limited supply demands the highest yield possible.
Simplified Process Flow: Unlike the multiple stages of Cohn fractionation, HaemaFrac® streamlines the entire process, reducing the need for extensive temperature control and multiple fractionation steps. By transporting proteins across membranes via an electric field, the process becomes both faster and less resource-intensive.
Efficiency and Scalability: HaemaFrac®’s design is modular and scalable, allowing biopharmaceutical companies to quickly adjust production levels based on demand. This scalability is a game-changer for companies facing the cyclical nature of plasma collection and distribution, where meeting demand spikes is essential.
Competitive Advantage: Intellectual Property and Market Differentiation.

Aegros has built a robust intellectual property portfolio around HaemaFrac® and its associated processes, including provisional patents that protect its proprietary technology. This IP base provides a significant competitive moat, making it challenging for other companies to replicate HaemaFrac®’s unique process. For investors, this patent protection means reduced risk of competition and enhanced value as the technology gains adoption.

HaemaFrac® addresses a critical gap in downstream processing. While the upstream sector has experienced rapid advancements with cell culture and bioreactor technologies, downstream processing — specifically plasma fractionation — has lagged behind. HaemaFrac® is uniquely positioned to be the catalyst for modernization in downstream plasma processing, a fact that adds to its attractiveness as an investment opportunity.

Promising applications of HaemaFrac®

Addressing the Growing Demand for Hyperimmune Plasma Products

One of the most promising applications of HaemaFrac® is in the production of hyperimmune plasma products, which are highly effective in treating specific infections and immune deficiencies. The COVID-19 pandemic has underscored the need for such products, with convalescent plasma playing a pivotal role in therapeutic strategies. However, the limited availability of convalescent plasma makes it essential to extract as much product as possible from each liter.

HaemaFrac® achieves this goal by effectively doubling the amount of therapeutic product derived from hyperimmune plasma compared to the Cohn method. This efficiency makes HaemaFrac® an invaluable tool for addressing current and future healthcare crises, further enhancing its appeal to investors seeking long-term value in the biopharmaceutical sector.

The global plasma fractionation market

Financial Performance and Market Potential

The global plasma fractionation market is projected to grow significantly, driven by the demand for immunoglobulins, albumin, and hyperimmune products. HaemaFrac® positions Aegros to capture a substantial share of this growing market by offering a faster, more efficient, and more profitable method for plasma fractionation.

Key revenue drivers for HaemaFrac® include:

Licensing Agreements

As the only technology of its kind, HaemaFrac® can generate recurring revenue through licensing agreements with major biopharmaceutical companies.

Partnership Opportunities

HaemaFrac®’s modular design and adaptability make it an ideal candidate for partnerships with plasma collection centers and research facilities focused on innovative therapeutic applications.

Lower Production Costs

By simplifying the plasma fractionation process and reducing protein loss, HaemaFrac® enables companies to achieve cost savings, making the technology attractive for budget-conscious manufacturers.

Given these factors, HaemaFrac® offers investors a unique value proposition: an opportunity to support a high-growth technology that addresses critical inefficiencies in an established industry, while benefiting from multiple revenue streams and cost-saving potential.

For investors, HaemaFrac® presents a compelling opportunity for several reasons:

Intellectual Property and Competitive Advantage: Aegros' strong IP portfolio and HaemaFrac®’s unique capabilities create a significant barrier to entry, ensuring sustained competitive advantage.
Sustainability and Social Impact: HaemaFrac®'s environmentally friendly process aligns with global sustainability trends, while its higher yields improve healthcare accessibility.

In summary, Aegros HaemaFrac® offers investors an opportunity to support a groundbreaking plasma fractionation technology that is set to redefine the industry. With its innovative approach and strong growth potential, HaemaFrac® stands as a disruptive force in plasma fractionation, making it an excellent investment opportunity for those looking to capitalize on technological advancements in biopharmaceuticals.

Investors seeking a stake in the next big leap in biopharma should consider HaemaFrac® as a leading solution to meet both present and future demands in plasma fractionation.