Symansis Ltd leaves the IIB

Symansis Ltd ended its co-location in the IIB per 29 February 2012. Symansis is illustrative of some of the issues facing new start-up companies. It has developed a large range of research products as tools for the investigation of cell signalling. Its products have been shown to perform well and there are over 90 scientific publications mentioning their use. However lack of IP protection has become an issue and other more established companies based in the key markets overseas have now launched similar products at very competitive prices. This has slowed sales growth. To reduce its cost base in line with lower sales, the operation of the company now continues as part of South Pacific Sera in Timaru. The Symansis team in Auckland certainly appreciated the benefits of working in the IIB.