How we’ve grown and a bit about what the future holds for the company.
POS Bio-Sciences was privatized five years ago, and is celebrating 40 years in business this year. 35 years is a long time, and the move from a non-profit to for-profit, entrepreneurial culture hasn’t been easy. But the POS team has benefited from the journey. Each of us has learned a great deal, and together we’ve grown into the truly entrepreneurial company we are today. The process has also helped the company and team evaluate where POS Bio-Sciences is best positioned to be successful.
Creating value for our shareholders remains a top priority – especially as many of them are our employees. With this in mind, the company has made a couple of key acquisitions that has allowed POS Bio-Sciences to offer more manufacturing services and extend project length and create process depth so that clients do more with us. Two key components of this was adding the Bio Processing Center (“BPC”) and Batavia Bio-Processing Limited (“Batavia”). Likewise, we have re-invested in our facility and equipment, investing over $13M. Plus, we invested in our own internal R&D programs, developing new ways of serving clients and creating new revenue streams.
In October 2016, we announced a joint venture in Sri Lanka – Lakessence. This venture will focus on manufacturing and marketing essential oils from local, organic Sri Lanka crops. Lakessence marks the first time POS has actively participated in building a business outside of providing services to clients, but it will not be the last time. To drive value for shareholders, employees and other stakeholders, moving past the service only model is essential.
The POS Bio-Sciences core business will not change. But where opportunities arise to license our independently developed intellectual property or spin out new companies, we will.
Watch for a significant announcement in June, and make sure to come find us at IFT!