Cytophage To Focus On Commercialization Efforts In 2024
FULL DISCLOSURE: This is sponsored content for Cytophage Technologies.
Cytophage Technologies (TSXV: CYTO) has filed its fiscal 2023 results, providing a recap on a successful year in terms of corporate development while providing an outline of where the company is headed in 2024.
The company is currently focusing its efforts on the commercialization of market-ready phage products for animal health. Its products largely focus on addressing salmonella and E. coli within the poultry market, with its distribution currently focused on the southeast Asian markets.
Cytophage in 2023 put into place a distribution with Renata Ltd in Bangladesh, whom will distribute its products to Bangladesh, Myanmar, Nepal and Sri Lanka. The need for bacteriophage solutions is high in the region, where environmental conditions such as high heat and humidity can make the control of disease difficult, two conditions for which Cytophage has optimized its product offerings. Commercialization efforts in the region are to be enhanced in 2024, with market research suggesting that vertically and horizontally integrated poultry operators are primed for the use of phage products in the feed, hatching, and broiler production processes.
The company is currently placing an emphasis on developing relations with some of the largest integrated operators in regions where phages are more readily accepted from a business as well as regulatory standpoint.
WATCH: The Solution To Antibiotic Resistance – With Cytophage CEO Dr Steven Theriault
In North America, a GRAS notice submitted to the Office of Food Additive Safety of the FDA last year concluded that the phage cocktail used within poultry is generally regarded as safe and is not to be subjected to pre-market approval for use in food. In Canada, a LONO has been submitted to the Health Products and Food Branch of Health Canada to review the use of phages in the production of chicken meat as an antimicrobial food processing aid. Studies conducted by Cytophage to date demonstrate that its phage product reduced lethality and decreased transmission of salmonella and E. coli in in broiler chickens and laying hens, and also resulted in heavier and healthier birds that were ready for market in reduced timeframes.
Outside of its Animal Health Division, Cytophage also notably saw its Human Health Division involved in a compassionate use case, where the company’s phages were used to treat an antibiotic-resistant bacterial infection within a prosthetic joint replacement patient. Other opportunities in this field are currently being evaluated by the Cytophage.
“2023 was an extremely busy year for Cytophage in terms of commercializing our key animal health products while also initiating all the necessary steps to take the Company public. Our growing operations have set us up for success in 2024,” commented CEO Dr. Steven Theriault.
Looking forward, in addition to going public in 2024 and seeing its phages used within the compassionate use case trial, Cytophage has begun construction on a new 20,000 square foot facility. The facility is to include a state-of-the-art laboratory, GMP-certified manufacturing suite, warehouse space, and administrative offices. The new facility is slated to open in June 2024.
“I strongly believe that Cytophage is uniquely positioned to play a leading role in commercializing the scientific advancements of our phage products and combating the global problem of antibiotic resistance,” concluded Dr. Theriault.
Cytophage Technologies last traded at $0.33 on the TSX Venture.
FULL DISCLOSURE: Cytophage Technologies is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Cytophage Technologies. The author has been compensated to cover Cytophage Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
