Written by Amy Stulick, Staff Reporter, San Fernando Valley Busines Journal
Biotech: Blood samples are raw materials for virus research and development.
As pharmaceutical labs race to develop a vaccine for COVID-19, biomaterial for researchers has become increasingly valuable. That works to the advantage of Sanguine Biosciences in Sherman Oaks, which provides blood, tissue, plasma and other biologic mate- rial for R&D.
The company has grown 100 percent over the past six months, outlasting competitors such as Texas-based Examination Management Ser- vices Inc., which ceased operations on July 3.
“No venture capital needed, it’s all through profits,” said Sanguine Chief Executive Brian Neman, who co-founded the company with Gerald Lee. “We’ve had some very nice growth. The company is also creating a registry of COVID subjects, COVID patients, and we’re getting close to nearing 1,000 partici- pants diagnosed with COVID.”
Sanguine phlebotomists and nurses number- ing more than 100 across the nation see more than 30,000 patients through a mobile network to collect the samples. The team is looking to double its employee count and add 40 more phlebotomists to its national roster by the end of the year, according to Charlene Christman, vice president of marketing and demand gener- ation for Sanguine.
The company differs from competitors in that most of its work is done remotely, and its marketing strategies focus on social media. The company buys advertisements on Facebook, Twitter and Instagram.
“In this economy, in this world, people are more interested in doing things from the com- fort of their own home rather than going to a medical center. We identify subjects via social media and patient advocacy efforts,” explained Neman.
The pandemic has accelerated demand for at-home visits to draw blood.
After drawing the blood, Sanguine gen- erates most of its net profits through patient identification for research studies.
“To that end, I’ve identified our competitor which only has the bodies business, the home business model, and they were offering only very low gross margins,” Neman said, referring to the recently shuttered EMSI.
Continuing reading the Race to Find a Vaccine