PHI’s acting CEO: ”We aim to drive innovation that accelerates breakthroughs in regenerative medicine”
With the introduction of the HoloMonitor CellSync, Phase Holographic Imaging (PHI) leaps forward in live cell imaging technology. Currently in the final stages of development, this next-generation imaging system is undergoing pre-production testing at prestigious U.S. institutions – the Huntsman Cancer Institute and the Wake Forest Institute of Regenerative Medicine. We spoke with the acting CEO, Ivan Jurković, to learn more.
HoloMonitor CellSync is the first in a planned series of models aimed at quality control in cell and gene therapy manufacturing. With a long-term goal of delivering a clinical-grade product, Phase Holographic Imaging (PHI) is integrating advanced image processing and AI to overcome the scalability limits of manual traditional optical microscopy.
PHI’s approach – using Quantitative Phase Imaging (QPI) – allows for high-resolution imaging of live cells without the need for chemical staining, ensuring that cell integrity remains intact during analysis.
The company has already established a strong scientific foundation, with over 300 publications validating HoloMonitor’s effectiveness. By improving data reliability, PHI aims to enhance decision-making, minimize costly late-stage failures, and ultimately increase the success rates of future medical therapies.
The rollout is planned for 2025
Manufactured in compliance with ISO 9001 standards, the new HoloMonitor CellSync sports an updated camera module and advanced automated cell segmentation, refined over two years of research and development. The latest iteration is currently being evaluated by PHI’s partners in the US, Huntsman Cancer Institute and Wake Forest Institute of Regenerative Medicine.
PHI expects to launch HoloMonitor CellSync in the latter half of 2025, meeting the demand for reliable, non-invasive live cell imaging solutions in areas like regenerative medicine, gene therapy, and cancer research.
The benefits of having a market-ready solution
Market projections suggest that the digital holographic microscopy market could exceed $1 billion by 2030, with rapid adoption across research and clinical applications.
Under the leadership of the newly appointed acting CEO Ivan Jurković, PHI is positioning itself with an already established product. Unlike traditional medicine, where drug candidates must navigate the uncertainties of preclinical and phase I-III clinical trials to reach the market, having a medtech product like the HoloMonitor already available is akin to having successfully completed these critical stages. This positions PHI with a ready-to-deploy solution, allowing the company to focus on scaling adoption and refining its technology rather than proving its foundational viability.
Now, PHI must demonstrate that the new CellSync model is as market-ready as its predecessor. Successfully doing so will not only help maintain its competitive edge but also reinforce its industry position by meeting expectations of both existing clients and potential new adopters.
Increased sales during 2024
According to the latest interim report, PHI increased sales growth significantly in Q3 and year-to-date, outpacing its full-year results for 2023. This surge, complemented by a robust gross margin exceeding the plan by 4 percentage points, reflects the impact of the company’s strategic partnership with Altium. As PHI’s largest shareholder and global distributor, Altium has expanded the company’s presence across core markets – North America, Europe, Asia, and Australia – while supporting exploration into new territories. It remains to be seen whether these efforts will drive even greater sales growth throughout this year and the next.
“By collaborating with leading research institutions and biotech companies, we aim to drive innovation that accelerates breakthroughs in regenerative treatments, ultimately improving patient outcomes and shaping the future of medicine”
Questions for the CEO
BioStock contacted PHI’s acting CEO, Ivan Jurković, to talk about his vision for the company and the potential future impact of the HoloMonitor CellSync.
Ivan, in addition to stepping into your new role as acting CEO of PHI, you continue to serve as Chief Financial Officer at Altium. How does this dual responsibility create synergies that strengthen both companies?
– Stepping into the role of Acting CEO at PHI while continuing as CFO at Altium presents a unique opportunity to drive strategic alignment between the two companies. My financial expertise at Altium provides a strong foundation for making data-driven decisions that support PHI’s growth and operational efficiency. At the same time, my leadership role at PHI gives me deeper insights into industry trends and business challenges, which enhances my ability to drive value creation at Altium. By leveraging financial discipline, strategic execution, and cross-company collaboration, I can help both organizations unlock new opportunities and build long-term resilience.
Shifting focus to the new HoloMonitor CellSync model, how does it differ from previous versions?
– The new HoloMonitor CellSync model represents a significant advancement, particularly with its higher image rate and enhanced capability to monitor for example cardiomyocytes in real time. Unlike previous versions, CellSync synchronizes multiple HoloMonitor units, allowing for higher temporal resolution and more precise tracking of dynamic cellular processes. This is especially critical for studying cardiomyocyte behaviour, as their contractions and morphological changes require rapid and continuous imaging. By providing more detailed insights into cell kinetics and function, CellSync expands research possibilities, making it a powerful tool for advanced cellular analysis.
What are the key objectives behind launching the new model, and how did client expectations and demands shape this latest iteration?
– The key objectives behind launching the new HoloMonitor CellSync model were to enhance imaging speed, scalability, and precision, ensuring that researchers can capture cellular dynamics with even greater accuracy. Client feedback played a crucial role in shaping this latest iteration—many expressed the need for higher image rates. By listening to these needs, we developed CellSync to deliver superior time-lapse imaging, and greater flexibility, empowering researchers to push the boundaries of live-cell analysis.
How does PHI plan to expand its market presence?
– PHI is focused on expanding its market presence through strategic innovation, partnerships, and global outreach. With the launch of HoloMonitor CellSync, we are addressing key research needs, particularly in high-resolution, real-time cell analysis, which strengthens our positioning in the life sciences market. Additionally, we are actively expanding collaborations with leading research institutions and biotech companies, ensuring our technology is integrated into cutting-edge studies. We are also enhancing our digital presence and customer engagement strategies, making it easier for scientists worldwide to access and implement our solutions. By continuously evolving our product offerings and reinforcing our commitment to scientific advancement, we aim to drive broader adoption and establish PHI as a leader in live-cell imaging.
What key factors contributed to the substantial sales growth in 2024?
– One of the key drivers of PHI’s substantial sales growth in 2024 has been our strategic collaboration with Altium. By leveraging Altium’s expertise in financial optimization and operational efficiency, we have strengthened our business model, streamlined processes, and enhanced market positioning. This partnership has also facilitated smarter resource allocation, allowing us to scale our commercial efforts effectively.
“This year will be record-breaking and the most successful chapter in our company’s history. With a new instrument on the horizon and the opportunities we see, we anticipate steady growth and another strong year to celebrate”
What are your long-term goals for PHI and the HoloMonitor technology?
– Our long-term vision for PHI and HoloMonitor technology is to become a key enabler in regenerative medicine and advanced cell research. As the field continues to evolve, the need for non-invasive, real-time imaging to study cell behaviour – particularly in stem cell research, tissue engineering, and drug development – has never been greater.
– HoloMonitor’s ability to provide label-free, high-resolution tracking of live cells makes it an ideal tool for regenerative medicine applications. Our goal is to further enhance its capabilities to support cell therapy advancements, personalized medicine, and tissue regeneration studies. By collaborating with leading research institutions and biotech companies, we aim to drive innovation that accelerates breakthroughs in regenerative treatments, ultimately improving patient outcomes and shaping the future of medicine.
– This year will be record-breaking and the most successful chapter in our company’s history. With a new instrument on the horizon and the opportunities we see, we anticipate steady growth and another strong year to celebrate.
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