OpGen

OpGen develops and commercializes molecular diagnostics and bioinformatics solutions to combat infectious diseases, together with its subsidiaries, Curetis and Ares Genetics. The company’s integrated solution involving multiplexed syndromic molecular panels and next-generation sequencing (NGS) with AI and bioinformatics provides an effective and faster approach to detect antimicrobial resistance (AMR) in infectious diseases. 

The company has several products in its portfolio, including the following: 

1) Unyvero, a diagnostic platform designed for rapid and accurate detection of infectious diseases by using multiplex syndromic panels to identify a wide range of pathogens and their drug resistance profiles, 

2) Acuitas AMR Gene Panel, which focuses on detecting AMR genes to identify bacteria that is resistant to certain antibiotics, aiding clinicians in choosing appropriate treatment options, 

3) ARES Technology Platform, a platform that incorporates NGS technology and offers AI-powered bioinformatics solutions for antibiotic response prediction, and 

4) Curetis’s CE-IVD-marked PCR-based SARS-CoV-2 test kit. 

Key Customers and Partnerships

The company has several key partners including Menarini Silicon Biosystems (in July 2020) on a strategic co-promotion agreement to sell Menarini’s CELLSEARCH system, CELLSEARCH CEC kit and COVID-19-related products to infectious disease healthcare providers and researchers, BioVersys (October 2022) to use Unyvero to screen patients for clinical trials, and Fisher Healthcare (April 2023) to Unyvero in the US. 

In March 2020, the company combined its business with Curetis, which became a wholly owned subsidiary of OpGen, to synergize their platforms, products, and commercial channels. 

Funding and Financials

The company began trading on the Nasdaq Stock Exchange in April 2015 under the ticker symbol “OPGN,” raising USD 16 million at IPO. The company raised USD 3.5 million through a public offering of 4.5 million shares and warrants at a combined price of USD 0.7785 per share. The company used the proceeds from the offering for various purposes, including supporting the commercialization of its Acuitas AMR Gene Panel test, commercializing products on the Unyvero Platform, and investing in R&D. 

For the three months ended March 2023, the company generated a revenue of USD 0.91 million, which is a 94% increase YOY, and it reported a decrease in net loss by 16% YoY to USD 5.7 million. Its cash and cash equivalent as of March 2023 was at USD 7 million compared to USD 7.4 million in Q4 2022.