Numbers
As of April 2024, NADMED has paying customers in 26 countries on four continents. We have made significant progress in all our target customer segments, with the most rapid increase of revenue in pharmaceutical, drug development, and research markets. The number of clinical laboratories and medical centers we serve is growing rapidly. Both sales of kits (NAD+ and NADH) and service (four NAD-forms, two glutathiones) have gained high interest.
The interest of pharmaceutical companies in NADMED stems from the novel capability to measure the complete metabolic state of cells accurately and quickly (the redox metabolites NAD+, NADH, NADP, NADPH, GSSG, and GSH). This is very beneficial for drug development from many angles and NADMED method saves time in metabolic assessment reducing the time of sample analysis compared to mass spectrometry. NADMED’s revenues from pharmaceutical customers grew by 179% YoY (2022-23)
NADMED has steadily grown its customer base among clinical laboratories, a segment that is estimated to become the largest market for the company. Currently, we serve the fields of neurology, oncology, mitochondrial diseases, muscular diseases, fatigue, and Long COVID. We expect this list to expand to include many other diseases. At the moment, we have laboratories in the USA, UK, Germany, Spain, Czech Republic, Thailand, and Finland. We expect the list to grow in 2024.
The early mainstay for NADMED has been universities and other research institutions that have had an immediate need for accurate, affordable, and scalable NAD measurement capability. This segment has exhibited healthy growth with many new customers late in the year in Europe and increasingly also in the USA, promising faster growth in 2024