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IUL gains momentum in 2020 and prepares the launch of a new test reader

IUL Instruments, a company that designs, produces and markets automation products for microbiology laboratories has invested $727,000 (€600,000) in 3D printers and has a turnover of $4.5 million (€3.7 million) in 2020. The company has increased by 25% the productive space of the fourth floor of its building, up to 75% and still retains its old headquarters of 2,000 square meters.

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The Spanish company IUL Instruments which designs, produces, and markets automation products for microbiology laboratories, has increased its turnover by 2% in 2020 compared to the previous year, to $4.5 million (€3.7 million). 

In September, IUL Instruments started to market a reader that facilitates the screening of new cases of coronavirus and is preparing to launch a new reader on the market. The company, based in Barcelona, has designed a reader that allows quantitative or qualitative results to be obtained and large-scale studies to be carried out to monitor immunity to Covid-19. The product is already marketed in the United States, Belgium, Italy, Singapore, and Taiwan. 

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The new product is manufactured with 3D printers

The company has allocated $727,000 (€600,000) to the production of this reader, which is manufactured with 3D printers. The reader can be adapted to various tests, such as antigens or antibodies, as well as different diseases such as diabetes. Up to twenty pharmaceutical and biotechnological companies have been interested in the product to sell it together with their test. 

IUL Instruments started working on the reader six years ago to diagnose diseases of cats and dogs and in the last months has adapted the software, the data export process and its security.  IUL started to market the Covid-19 test reader in September. The technology of this product allows to obtain results by increasing the sensitivity in the reading of rapid tests. This facilitates the traceability of the Covid-19 cases and the massive screening in places like hospitals, airports and pharmacies without the need of health professionals or qualified personnel. IUL has expanded the capacity of its facilities to 5,000 square meters. 

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The company has increased by 25% the productive space of the fourth floor of its building, up to 75%, and still retains its old headquarters of 2,000 square meters in case demand continues to increase. The company is already preparing the launch of a larger reader that will allow more molecules to be read. In addition, the range of detecting diseases of this product will be greater and will be on the market in a month. 

However, IUL expects to register a turnover in 2021 similar to that of the previous year.  Up to twenty pharmaceutical and biotechnological companies are testing the test to market it. IUL currently sells 92.5% of its products abroad and allocates 13% of its turnover to research and development. Vicenç Font is the CEO of the company and his family and another partner maintain the ownership. The company, founded in 1987, aims to provide a more convenient and safer microbiological control for industry and health. IUL markets its products in more than one hundred countries and has a staff of forty workers.

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(Featured image by geralt via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.