Hesperos, Inc., operating as a Contract Research Organization (“CRO”) has developed a disruptive technology that provides safety and efficacy testing of chemicals and novel therapeutics for the pharmaceutical, cosmetic, and food industries for drug discovery and development using its Human-on-a-Chip® multi-organ, micro-physiological system. We are a socially conscious company that uses our non-invasive, serum-free, multi-organ chip platform (Human-on-a-Chip) systems to provide pre-clinical analytical services with the goal of accelerating drug discovery and general toxicology testing and reducing use of animal testing. Our services primarily focus on systems composed of human cells representing select organs, which can be configured based on customer needs. Our technology and services provide research teams the opportunity to determine how the human body will respond when new drug compounds or drug combinations are introduced for both efficacy and toxicity in the same platform that interlinks organs or organ systems, including: heart, liver, lung, brain, skin, muscle, kidney, gastrointestinal (“GI”) tract, immune, neuromuscular and more. We also offer four basic validated Human-on-a-Chip systems for disease modeling and drug testing: Heart-Liver two-organ model, Neuromuscular (NMJ) junction two-organ model, Heart-Liver-Cancer three-organ model and Heart-Liver Skeletal Muscle Neuron four-organ model. Our platform can target rare diseases (of the over 7,000 known rare diseases, approximately 95 percent have no treatment because of a lack of animal models). We have licensed patents from Cornell University and the University of Central Florida to support our systems.
We have funded our operations primarily from grant funding from the National Institute of Health (NIH) and, to a lesser extent, from revenue generated from services provided to our pharmaceutical and cosmetic industry clients. As of March 31, 2021, we have received approximately $17.5 million in funding from Small Business Innovation Research (SBIR) grants from the NIH, with approximately an additional $7.4 million available for use through 2024, subject to availability of funds and satisfactory progress of each project as determined by the NIH. Dr. James Hickman, Chairman of our Board of Directors and one of our founders, has been our primary source of capital other than the grants from the NIH.
We had net loss of $0.5 million and net income of $0.1 million for the years ended December 31, 2021 and 2020, respectively, and total revenues of $5.2 million and $5.2 million for the years ended December 31, 2021 and 2020, respectively. We had net loss of $0.3 million and $0.1 million for the three months ended March 31, 2022, and 2021, respectively, and total revenue of $1.1 million and $1.2 million for the three months ended March 31, 2022, and 2021, respectively. The Company was incorporated in 2015 and has taken no significant outside investment to date.
|Industry:||SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH|
|Address||12501 Research Parkway Suite 100 Orlando, FL 32826|
|Phone Number||(407) 900-5915|
|View Prospectus:||Hesperos, Inc.|
|Revenues||$5.2 mil (last 12 months)|
|Net Income||$-0.5 mil (last 12 months)|
|Price range||$0.00 - $0.00|
|Est. $ Volume||$20.0 mil|
|Manager / Joint Managers||ThinkEquity|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|