Gentian Diagnostics: A long-term revenue ambition of NOK 1 billion from a portfolio of high-impact diagnostic tests

18. Jun 2021 | 4 min read

Moss, 18.06.2021

Gentian Diagnostics ASA, is a fast-growing developer and manufacturer of innovative and efficient diagnostics for better treatment decisions. In an updated investor presentation, the company outlines the market potential and roadmap for its portfolio of high-impact diagnostic tests and an ambition to generate an estimated annual revenue of NOK 1 billion in 5-7 years.

The growing diagnostics market puts increasing pressure on clinical laboratory efficiency, however many of the existing, clinically relevant biomarkers are available only on slow and inefficient platforms. Gentian’s solution is to utilize PETIA (particle-enhanced turbidimetric immunoassays), based on proprietary nanoparticle technology and knowhow, to convert existing biomarkers to the most efficient automated, high-throughput analysers.

"Our products offer multiple high-value benefits for clinical laboratories and hold great value potential. Firstly, we contribute to early disease detection and faster availability of clinically relevant information, which lead to better treatment decisions. Secondly, we significantly improve laboratory productivity and cost-efficiency by leveraging PETIA technology, which enable 3-10x higher throughput than traditional immunoassay platforms,” says Hilja Ibert, CEO of Gentian Diagnostics.

Gentian’s portfolio of diagnostic tests targets several large and growing disease areas such as infections and inflammation, kidney failure and congestive heart failure. The company has four established products, one product in market development, and two products in development with launches scheduled for Q4 2021 and Q1 2022, respectively. Gentian also has three undisclosed biomarkers in exploration and ‘proof of concept’ phases. In 2017-2020, the four established products contributed to 31% annual revenue growth. Gentian reported NOK 79 million in revenue in 2020, up 32% from 2019.

The company’s roadmap for long-term growth and value creation is founded on six
strategic pillars:

  1. Grow annual revenue from the company’s four established products – Cystatin C, fCAL, Canine CRP and fPELA – by expanding market access through additional commercial partners and regulatory approvals
  2. Prove clinical relevance of GCAL for sepsis and COVID-19
  3. Launch one new product per year; launches of SARS-COV-2 Ab scheduled for Q4 2021 and NT-proBNP for Q1 2022, and three more markers currently in exploration and ‘proof of concept’
  4. Secure one new contract with a global commercial partner every year, building on already established partnerships with Beckmann Coulter for Cystatin C and Roche for fCAL through Bühlmann Laboratories
  5. Grow gross margin through economies of scale
  6. Deliver healthy long-term EBITDA margins through operational leverage and cost discipline

“Gentian Diagnostics has several paths to continued strong growth and profitability. Our business model involves taking significant risks in R&D to bring innovative products to the market, and the failure or successes of pipeline projects could impact the relative weight of our strategic pillars and our long-term revenue ambitions. However, by having a diversified portfolio, we are confident that the company has a solid foundation for creating shareholder value,” says Njaal Kind, CFO of Gentian Diagnostics.

For further information, please refer to the attached investor presentation or
Hilja Ibert, CEO 
+47 919 05 242 (mobile)

Njaal Kind, CFO 
+47 919 06 525 (mobile)

About Gentian Diagnostics
Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures high-quality, in vitro diagnostic reagents. Gentian’s expertise and focus lies within immunochemistry, specifically infections, inflammations, kidney failures and congestive heart failures. By converting existing and clinically relevant biomarkers to the most efficient automated, high-throughput analysers, the company contributes to saving costs and protecting life. Gentian is based in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA and China. For more information, please visit

  536322_2021 06 GENT Company Presentation.pdf


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