Urteste bases its strategy on a technology that uses an enzymatic method to develop tests that detect different types of cancer based on a urine sample. This represents an innovative technology that, to the best of the company’s knowledge, is not currently used in medical devices available on the market. Our products are diagnostic tests for use in in vitro diagnostics. At the current stage of development, the company identifies 15 diagnostic targets: pancreatic cancer, prostate cancer, colorectal cancer, lung cancer, kidney cancer, liver cancer, biliary tract cancer, gastric cancer, oesophageal cancer, ovarian cancer, endometrial cancer, breast cancer, leukaemia, lymphoma, and glioma. Currently, the most advanced products in development are diagnostic tests for pancreatic cancer and for prostate cancer, working on the principle of single tumour detection, implemented by the company as the PANURI and EASY-TEST projects.
The main objectives of Urteste’s strategy for the next 5 years include:
1) commercialization of the company’s products that are at advanced stages of development;
2) development of new, innovative products;
3) development of the company based on the idea of a low-cost organization – the “light company” concept.
The company’s objective is to develop tests applicable in diagnostics and monitoring of treatment of various types of cancer. In the Issuer’s opinion, the currently held know-how and gathered research results will allow the company to develop candidates for new diagnostic tests in a short time. The Issuer assumes that the company’s objective is to develop tests applicable in diagnostics and monitoring treatment of various types of cancer. In the Issuer’s opinion, the currently held know-how and gathered research results will allow the company to develop candidates for new diagnostic tests in a short time. The Issuer assumes that in the future it will be possible to diagnose many cancers with the use of one or several medical devices. The performance of the target medical device will be based on the universal technology developed by Urteste and currently used for single tests.
The company’s core competence is the design and development of diagnostic tests based on urine testing. The first stages of the development of diagnostic tests are the basis of the core business and constitute the essence of Urteste’s operations.
Urteste’s strategic objective is to develop key technological and scientific competencies within the company in order to maximise the effect of the tasks performed in relation to current projects. The knowledge of collaborators and the technological processes used are key assets and will be the main drivers of the company’s growth. Therefore, the company has and will continue to focus on reducing the costs associated with activities that are not directly related to its core research and development activities.
The company intends to separate from its organisational structures both core related business, containing medium strategically important functions (e.g. production), and non-core related business, which is not strategically important (e.g. accounting, IT).
The external execution of non-core functions is, in Urteste’s view, a more advantageous solution than engaging its own human resources. The benefits of the adopted “light company” strategy are mainly:
a) concentration of forces, resources and management processes on the core objectives of the company – high quality implementation of operational processes,
b) simplification of the organisational structure and procedures,
c) reduction of economic risk (reduction of expenditure on fixed assets),
d) increased flexibility of operation,
e) access to know-how (not constituting the core business of the Issuer),
f) increase in efficiency and effectiveness of operations.
Urteste focuses its activities on developing the following projects related to the use of its know-how in the area of cancer diagnostics:
a) PANURI – the Issuer’s solution which, upon completion of development work, will be offered as an in vitro diagnostic medical device for use in the diagnosis of pancreatic cancer;
b) EASY-TEST – the Issuer’s project to develop an in vitro diagnostic medical device for use in the diagnosis of prostate cancer;
c) FINDER – a project aimed at searching for new diagnostic targets based on the Issuer’s know-how.
As part of the project, research and development work is being carried out on the development of future in vitro diagnostic medical devices for the diagnosis of various types of cancer.