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MFIC Corporation – continuing to
lead a revolution in fluid processing
Technology
Scientific & Technical Instruments
(OTC: MFIC)
MFIC Corporation
Irwin Gruverman
Chairman and
Chief Executive Officer
Interview conducted by:
Walter Banks
Co-Publisher
CEOCFOinterviews.com
October 2002
Company Profile:
MFIC Corporation is the world leader in high performance
applications of fluid processing. Microfluidizer® materials processing systems,
made by the Microfluidics Division, operate at the highest available pressures, utilizing
a proprietary, unique fixed geometry interaction chamber which can subject the fluid
stream to shear energy densities up to 10 times that of other processors. The uniform
nanostructures created allow preparation of commercial products having unmatched
uniformity, stability and reliability. Examples include injectable emulsions and
suspensions (such as anesthetics and vaccines), liposomal encapsulation, inkjet inks, high
end coatings, catalysts, semiconductor planarization media and color and flavor emulsions
for soft drinks. In addition, in the biotech industry, Microfluidizer® systems are a standard means
of cell disruption for recovery of proteins produced by biotechnology processes and are
widely used in genomic and proteomics applications, in the biotechnology and
pharmaceutical industries. Systems are available in all sizes from laboratory to full
scale production.
Their
applications lab can help a customer make innovative products or reformulate existing
products to new levels of quality... with guaranteed scaleup. The Microfluidics Division
manufactures 3 levels of Microfluidizer® material processors; laboratory,
pilot manufacturing and large scaleup production units. Laboratory processors offer
process pressures of up to 40,000 psi in applications ranging from industrial processing
to cleanroom applications. These include Homogenizers, Table Tops and Floor Models. The scaleup processors include the M–700 Series, the M-210EH
electric-hydraulic processors and the custom designed M-610 processor. Scaleup is always
guaranteed. Whatever particle size you are obtaining in the laboratory processors, you
will easily be able to achieve in our scaleup units.
MFIC's Morehouse-COWLES Division manufactures high speed dispersers, mixers,
vertical and horizontal media mills with industry-leading reliability and performance.
Uses include paint manufacture, chemical formulation and premix preparation for final
Microfluidizer® processor formulation. For over 75
years, Morehouse-COWLES has been synonymous in the U.S. and international markets with
media mill, mixer and dissolver technology, and includes the patented Zinger®
horizontal media mill which offers faster, finer particle reduction.
New products and applications:
MFIC Corporation has introduced a new, patented High-Pressure Multiple Stream Mixer
Reactor (MMR) from their Microfluidics Division. It produces uniform nanoparticles with
phase purity previously unachievable with conventional batch reaction technology. This
degree of reaction chemistry control can lead to cost-effective product improvements and
the development and manufacture of new nanomaterials in scalable quantities.
Applications
for the new technology include improving the performance of catalysts, planarization
polishing media, superconductors, abrasive silica, recording media, photographic media and
pigments. It also may be used in the development and production of unique pharmaceutical
products.
CEOCFOinterviews:
Mr. Gruverman, please give us a brief history of MFIC Corporation.
Interview Highlights:
- How and when was MFIC Corporation started?
- From where did they get their flagship technology?
- What is their flagship technology?
- Are they currently a drug delivery development business or sellers of equipment?
- How are their systems used?
- Do they believe that they are leading a revolution in the way people perform fluid
processing of materials?
- Can their systems make nanosize particles and components from process streams?
- What is the capability of their product line, is it strictly for laboratories or can it
be scaled up to production equipment?
- They made a couple of acquisitions a few years ago, what was
the decision making process and how have they worked out?
- How did those acquisitions affect their financial outlook?
- What is their outlook for profitability?
- How have recent changes in accounting principals affected their company?
- What attracted them to Morehouse-COWLES and will they ever
realize their desired goal of synergy to their core business?
- Have they been able to successfully turnaround the Morehouse-COWLES acquisition?
- Do they consider their MMR ( Multiple
Stream Mixer Reactor)
the future of their business?
- In what areas is the MMR process useful?
- What is the distinction between the MMR process and the Microfluidizer®
processor?
- What is their sales and marketing strategy?
- Is their Microfluidizer®
processor used in pharmaceuticals, coatings and making yogurts?
- What other applications may we see in the future?
- What
is their competition and what is their challenge?
- What is the cost of their equipment and have they developed a lower cost line of the
products?
- What is the market size for Microfluidics Division?
- Do they sell more equipment in our outside of the United States?
- Is their process called ‘Cell Disruption’, for pharmaceutical and Biotech
industry a standard product and are there some that view it as a necessity?
- Why is the Microfluidizer®
processor so important to modern pharmaceutical formulation?
- Do
they generate revenues through consumables?
- Can they continue to grow their business with success in the Microfluidics Division end
until they start to see success with MMR applications?
- What are the key aspects of growth for their core Microfluidics business?
- Does the MMR technology give them the opportunity to become a major company?
- What contributions have they made that may have touched individual lives without their
awareness?
- What are they doing to meet customer needs?
- Do they have the cash and credit to go forward?
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