How to get 60% growth in a challenging economic climate

TTP Labtech’s Managing Director Jas Sanghera provides insight into how taking calculated risks of increasing investment and strategy changes have been rewarding

 

These are exciting times at TTP Labtech. As an employee-owned company, providing customers with tools and application support to help them achieve success is something our entire team takes to heart. That’s also why we have made significant strategic decisions over the last few years, including the £3.8 million we invested into our R&D department. This dedication to improving the future of research is helping us to continue to develop new and improved products that can really enhance the efficiency and effectiveness of research at the bench.

Our approach is paying off too, as we have had a remarkable first half of the financial year in 2013, with both orders and revenue well ahead of budget. It is so rewarding to see that many of the changes we initiated nearly two years ago are now contributing to a 60% growth against the corresponding period in the previous year.

We’re extremely proud of the direction we’re headed in, especially given the current fiscal climate.

Fuelling growth – our four main strategies are to:

  1. Constantly develop and rejuvenate our existing products to meet current and emerging customer needs
  2. Establish inroads into new markets where our technologies can make a positive difference
  3. Collaborate closely with customers to develop exciting new systems that really meet their needs
  4. Innovation, innovation, innovation!

Being at the forefront of innovation in lab technology, we are ‘in the thick of the action’ with a unique opportunity to observe and help shape future market trends.

Currently, we’re seeing that the scientific community faces significant challenges of scale. Sample collections are ever growing, while the omnipresent need for faster experimental throughput makes this challenge even more significant.

We have been working to meet these needs by offering solutions for storing, handling and analysing large numbers of samples, to accurately and reliably generate insightful data. We do this across three main product areas; sample management, liquid handling and cell imaging, areas which combine seamlessly to form a large component of the scientist’s workflow.

How to develop successful instruments

The instruments launched by our team in 2012, arktic® and dragonfly®, were both developed as a result of collaborations with the Medical Research Council, UK. By linking closely with research experts, we were able to design and refine these products to best meet the requirements of scientists in several key areas:

Biobanking:

  • Requirement: high capacity long term -80ºC storage of biospecimens for use in basic research and clinical trials, designed to maximise the use of space within laboratories.
  • The solution: Our arktic storage system has a small footprint that makes the most out of the available space by allowing for three times the number of samples to be stored compared to standard -80ºC freezers.

Liquid Handling:

  • Requirement: the need for efficient and accurate liquid handling, rapid automated non-contact liquid dispensing of a wide range of volumes using a system that can complement small volume (< 0.5 µL) pipetting in the protein crystallization workflow.

The solution: The dragonfly accurately handles volumes from 0.5 µL up to 4 mL, complements any existing liquid handling instruments being used and dispenses accurately regardless of the liquid type being used.

The next step for future success

These are exciting times to be working in life science research and we are already looking forward to this year that will see us announce several major product developments – be sure to keep an eye on our website to be kept up-to-date!

If you would like to know more about us, and the steps that we are taking to continue our development, then take a look at the TTP Labtech company profile featured in the 2013 Fall edition of Drug Discovery World magazine. Read it in full here.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>