Telescope Innovations Product Deployed by 13 Pharma Giants in First Year
- Telescope's DILCTM rapidly adopted by top pharmaceutical companies, leading to continued strong growth
- Automation and data-rich analytical tools becoming necessities in the pharmaceutical industry
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 4, 2023) - Telescope Innovations Corp. (CSE: TELI) (OTCQB: TELIF) ("Telescope" or the "Company"), a leading developer of advanced technologies for the global pharmaceutical and chemical industries, is excited to announce that its flagship product for automated analysis of chemical reactions, Direct Inject Liquid Chromatography (DILCTM), is quickly being established in the market as a critical tool to support process development. One year after launch, DILCTM units have been deployed at 13 of the top 20 pharmaceutical companies in the world (ranked by revenue). Building on this momentum, the company expects continued strong growth over the next year.
The rapid adoption of Telescope's technology reflects an industrial commitment to automation solutions with data-rich analytical tools. These tools accelerate R&D and also enable fast recovery from massive industrial upsets such as the COVID-19 pandemic. Companies that invested in automation, process analytical technology, and digitalization not only recovered quickly, but thrived. This modernization enables more insight and success during each experiment and speeds up the transitions from lab to plant.[1]
"The pharmaceutical industry has realized that automation, lab digitization, and data-rich experimentation aren't luxuries anymore; they are necessities," commented Jason Hein, CEO of Telescope. "DILC opens the door to this modernization, and we are thrilled to see the market responding."
In its first year of commercialization, DILCTM demonstrated that Telescope's fusion of proprietary hardware, software, and integration know-how addresses an unmet need in automated chemical process analysis. At the same time, DILCTM sales revenues have supported the Company's continued technology development and growth to address larger market demands. Telescope aims to continue this growth trajectory as an established partner-of-choice for the development and integration of lab automation tools, serving the global chemical and biopharmaceutical sectors.
For technical information on DILCTM, Telescope has published a White Paper reviewing applications of the technology in chemical synthesis and crystallizations.
About Telescope
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.
On behalf of the Board,
Telescope Innovations Corp.
Jason Hein, Chief Executive Officer
E: jason@telescopeinn.com
Forward-Looking Information
Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements in this document include expectations surrounding the company's growth trajectory, the continued ability of the DILCTM platform to generate revenue, and all other statements that are not statements of historical fact.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic; general economic conditions; adverse industry events; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
[1] Burke, A.; COVID-19 Recovery in Chemical R&D. Mettler-Toledo Expertise Library. (accessed 2023-10-03).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182810
