Bluechiip Limited (ASX: $BCT) Progress Update

Bluechiip Limited (ASX: $BCT) has reported successful technology installations in two top-20 pharmaceutical companies in North America, along with significant potential to expand into other labs of current customers. The company also presented at the SLAS conference and is making strides in direct-to-market sales. Bluechiip's CEO, Andrew McLellan, expressed confidence in the company's progress and its position in the market.

Executive Commentary on Progress and Market Position

As ever, the first adopters of new technology are the hardest to get across the line; we are actively pursuing the selling of our technology across other laboratories within these two companies. The opportunities identified within this group are significant - including multiple sites in multiple geographies. Negotiations are progressing through proposal, quote and onboarding into these groups. The SLAS conference was hugely valuable for Bluechiip, generating over 50 leads for us. Importantly it included engagement with over 9 of the top 20 pharma companies in one of our core target markets. Some of these companies were already in our pipeline but many were not, we now have engagement with 14 of the top 20 pharmas. It is hard to overstate the value of SLAS to Bluechiip and as a builder of our pipeline. We are currently working with distributors in Europe for our products, aiming to engage with the key pharmaceutical companies there, as we have done in the USA. Bluechiip is well-positioned to capitalise on our direct-to-market approach, where proceeds from sales flow directly through to the revenue line. The pharmaceutical companies are the leaders in the industry, and represent the tip of the iceberg to the broader biopreservation and sample management market, with well over 300 million samples a year. The overall market size for Bluechiip products is in excess of $1b per annum. I am confident that a successful capital-raise positioned Bluechiip well to transition to a sustainable, cash-flow-positive future.

Summary of Bluechiip's Progress and Outlook

Bluechiip Limited (ASX: $BCT) has made significant progress in the North American market with successful technology installations, expansion opportunities, and direct-to-market sales approach. The company's participation in the SLAS conference has generated over 50 leads and engagement with 14 of the top 20 pharmaceutical companies, indicating a strong market position. Bluechiip's CEO, Andrew McLellan, expressed confidence in the company's progress and its position in the market, highlighting the significant market size for Bluechiip products. The company aims to capitalize on its direct-to-market approach and is well-positioned for a sustainable, cash-flow-positive future.