Phase Holographic Imaging (PHI) is advancing its HoloMonitor CellSync, a next-generation live cell imaging system – aimed at regenerative medicine and cancer research – slated for market release in the second half of 2025.
CellSync enables high-precision, label-free imaging of live cells, eliminating the need for chemical staining. Currently in pre-production testing at the Huntsman Cancer Institute and the Wake Forest Institute for Regenerative Medicine in the US, CellSync offers enhanced imaging speed, automated cell segmentation, and AI-driven data processing.
A strategic shift in distribution
PHI recently announced plans to amend its distribution agreement with Altium, its global distributor and main shareholder. The proposed amendment removes exclusivity and minimum purchase requirements for Altium, fostering a more flexible partnership. Altium will continue to lead distribution efforts in key regions, including Central and Eastern Europe, North America, Turkey, and Azerbaijan, leveraging its established sales, marketing, and support teams to drive growth.
The amendment empowers PHI to take greater control of its commercial strategy by bringing select sales and marketing functions in-house and pursuing high-margin direct sales. It also opens the door for PHI to form new distribution partnerships beyond Altium, enhancing its ability to compete and create value. The company aims to act faster and position itself as a high-performance, growth-oriented player in the life sciences sector.
– I’m proud to say that PHI is now fully equipped when reclaiming responsibility for its sales operations, with renewed energy and a strong platform to accelerate future expansion, Goran Dubravčić, CEO of Altium and Chairman of PHI said in a press release.
As the amended agreement constitutes a related-party transaction due to Goran Dubravčić’s dual roles, it requires approval at an Extraordinary General Meeting on July 11th.
Comments from the CEO
We turned to PHI’s CEO Patrik Eschricht for a comment on what this means for PHI.
Patrik, how will the amended distribution agreement impact PHI’s revenue growth in the short term?
– The amended agreement is set to significantly boost our revenue growth by enabling us to engage in high-margin direct sales, establish new distribution partnerships and work without exclusivity in any territories. This enhanced flexibility will greatly improve our commercial agility and firmly position us as a dynamic and growth-oriented leader in the market.
What specific markets are PHI targeting with its new direct sales strategy?
– We will focus outside the regions where Altium continues to operate, such as Western Europe, parts of Asia, or other high-value markets. Altium will still handle Central and Eastern Europe, North America, Turkey, and Azerbaijan.
How does PHI plan to scale its in-house sales and marketing teams to support this transition?
– We are now ready to take back selected sales and marketing functions in-house, actively building internal capabilities to support this shift. Earlier, PHI did not have the resources – this will enable us to act faster and reclaim responsibility for sales, demonstrating that team expansion and capability enhancement are already underway.
Why now?
– Altium has been a transformative force in PHI’s commercial evolution, providing essential market intelligence, sales execution, and operational support. This collaboration has enabled us to transition from a development-focused organization to a commercially driven company. The partnership has laid a strong foundation, allowing us to build robust internal capabilities and enhance our commercial acumen. Not to forget the right issue at the end 2024 also gave us the financial muscles to invest in robust internal capacity, to take this step.
How does this decision align with the upcoming launch of HoloMonitor CellSync?
– The timing of the new distribution strategy aligns strategically with the market release of CellSync in the second half of 2025. By expanding control over sales and forming new partnerships, we are positioning ourselves to maximize the commercial impact of CellSync’s launch.
What challenges does PHI anticipate during this shift, and how will they be mitigated?
– Potential challenges include managing the transition to in-house operations, coordinating with Altium, and building new partnerships. We, however, have the ambition to mitigate these potential challenges by leveraging our new commercial autonomy, existing relationships, and a strong internal platform to support expansion.
What is PHI’s long-term vision of its position in the global pharmaceutical market following these changes?
– PHI aspires to become a high-performance, growth-oriented company in the life sciences sector. With increased flexibility and autonomy, we aim to be more competitive globally, enhance value creation, and establish a stronger presence in regenerative medicine and cancer research markets.
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