Ondine Biomedical Inc on Monday said revenue rose by half as it narrowed its loss in the first half of the year.

The Vancouver-based life sciences company, which specialises in photodisinfection therapies reported that revenue increased 63% to C$428,000, or £259,883, in the first half of 2023, from C$262,000 the year prior.

It said this was due to additional clinical deployments of its Steriwave nasal disinfection technology in Canada, with further plans for hospital deployments later in 2023.

Ondine noted that it has commenced its first UK pilot of Steriwave with the NHS, while it is also seeking approval from the US Food & Drug Administration.

The firm posted a net loss of C$7.9 million, narrowing from C$8.6 million a year ago. It said the loss was due to higher clinical and regulatory costs, as well as the expansion of Ondine’s commercialisation reach, it said.

Looking ahead, Ondine Chief Executive Carolyn Cross said: ‘There is a huge need and growing international support for novel technologies that can address rising rates of [antimicrobial resistance], and we are in the unique position of having a simple, cost-effective solution that does not generate resistance.

‘I am excited for the months ahead and confident that we will be successful in the upcoming FDA-related and commercial milestones.’

Cross added: ‘We have invested a great deal of time and effort in hospital integration workflows which are now assisting in our commercialisation expansion plans. With respect to the key US market, we are in detailed discussions with FDA on our Phase 3 protocol’.

Ondine shares fell 2.7% to 9.00 pence each on Monday morning in London.

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