Forum Topics MAP MAP Projects list

Pinned straw:

Last edited a month ago

With thanks to the 'research assistant', Perplexity.

Projects Microba is working on

1. MetaXplore™ testing

Objective: Commercialize gut disorder diagnostics.

Milestones:

  • 195% YoY sales growth in Australia (Q2 FY25)
  • UK Early Access Program launched (Q1 FY25)

2. MetaPanel™ testing

Objective: Launch metagenomic pathogen diagnostics.

Milestones:

  • NATA accreditation and Sonic Healthcare partnership (Q4 FY23)
  • First sales in Australia (Q3 FY24)
  • US commercialization plans (Q3 FY24)

3. Inflammatory bowel disease program (MAP 315)

Objective: Develop MAP 315, a novel bacterial therapeutic for ulcerative colitis.

Milestones:

  • Phase I trial completed (Q4 FY23)
  • Preparing for Phase II trial with IND submission (Q1 FY25)
  • Partnering activities for non-dilutive funding (Q2 FY25) 

4. Immuno-oncology program

Objective: Improve response to immune checkpoint inhibitors (ICIs) using microbiome-based adjuvants.

Milestones:

  • Preclinical data showing tumor reduction in melanoma models (Q4 FY23)
  • Dataset expanded to 5,500+ patients (Q2 FY25)
  • Collaboration with PrOSPeCT study for clinical samples (Q3 FY24)

5. Autoimmune disease program

Objective: Discover microbiome-based therapies for lupus, psoriatic arthritis, and autoimmune liver diseases.

Milestones:

  • Completed Stage 1 screening (Q4 FY23)
  • Stage 2 functional screening 70% complete (Q3 FY24)
  • 6 leads validated for anti-inflammatory/antifibrotic activity (Q1 FY25) 

6. Allergy program (with IFF)

Objective: Develop microbiome-based allergy treatments.

Milestones:

  • 6 lead species isolated (H1 FY25) 
  • Safety/manufacturability assessments completed (Q2 FY25) 

Actual and potential business partners

1. Sonic Healthcare (ASX: SHL)

Role: Distributor for MetaPanel™ in Australia.

Milestones:

  • Launched nationally (Q3 FY24)
  • Presented at Australian Gastroenterology Week (Q1 FY25

2. Invivo Clinical (UK)

Role: Base for UK microbiome testing.

Milestones:

  • Acquired in Q3 FY24
  • MetaXplore™ Early Access Program launched (Q1 FY25)

3. Ginkgo Bioworks (NYSE: DNA)

Role: Autoimmune drug discovery partner.

Milestones:

  • 2-year discovery program (Q4 FY23)
  • Stage 2 screening completed (Q1 FY25)

4. International Flavors & Fragrances (NYSE: IFF)

Role: Allergy therapeutic development.

Milestones:

  • Lead species isolation (H1 FY25)
  • Custom assays underway (Q2 FY25)

5. SYNLAB/Genova Diagnostics/G42 Healthcare

Role: International distribution partners.

Milestones:

  • 14 countries operational (Q4 FY23)
  • Brazil partnership (Q4 FY23)

6. Clinical Microbiomics

Role: Acquired Microba’s Research Services (Q1 FY25)

Milestones: Up to $3M potential revenue over 4 years

7. PrOSPeCT study (Omico)

Role: Immuno-oncology clinical data collaboration.

Milestones: 3,500+ samples collected (Q3 FY24)

Key observations:

  • Therapeutics Focus: MAP 315 (IBD) and immuno-oncology programs are advancing toward clinical trials, with partnerships critical for non-dilutive funding.
  • Testing Growth: MetaXplore™ and MetaPanel™ are scaling in Australia/UK, with Sonic and Invivo as key enablers.
  • Strategic Exits: Research Services transferred to Clinical Microbiomics to prioritize diagnostics.
  • Pipeline Depth: Autoimmune and allergy programs offer long-term potential but are earlier-stage.

Microba’s partner network spans diagnostics (Sonic, Invivo), biotech (Ginkgo, IFF), and global healthcare distributors, positioning it for commercial and clinical growth.

lastever
Added 4 weeks ago

I've been reviewing Microba's quarterlies and rewatching the recent webinar. I've noticed they haven't been saying much about what's happening with testing sales internationally and that's part of what makes the highlighted metrics seem inconsistent. I imagine that there's some trial and error going on.

Reading between the lines of Luke's comments about maintaining focus and speed, and avoiding 'distractions disguised as opportunities', they have more options than they have staff to handle them. That's a good problem to have provided they do remain focused and grow convincingly.

Australian testing sales have been growing well. He's confident that the pattern should repeat in the UK - feedback from the early access testing with Invivo suggest clinicians are liking the more detailed results. I think they sent in extra sales staff to help clinicians transition to the new product. That will become evident in the next few quarters. And then he's dropping hints about progress towards reimbursement arrangements in the US.

As he says, this is a growth company. The set up, the team, the international partners, the avenues to grow (as listed in the projects list I posted) are all there. The projected market sizes are in the billions. I suppose most sensible people will wait to see a longer period of sales growth, but I'm a sucker for a good story.

Regarding the therapeutics projects, the allergies project with International Flavors and Fragrances in particular caught my attention. IFF are truly international and a long established food science, health science and fragrance company (they went public in 1960). They have the ability to formulate, produce and distribute at scale.

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