Pangaea Oncology, S.A.
Climate Impact & Sustainability Data (2020, 2022-01 to 2022-06)
Reporting Period: 2020
Environmental Metrics
Social Achievements
- Launched employee well-being program, including bi-weekly testing and provision of equipment to maintain the integrity of the healthcare and laboratory teams (cost increase of €50,000 between March and December 2020).
Governance Achievements
- Reviewed organizational structure and internal control systems; no significant changes needed.
Climate Goals & Targets
Medium-term Goals:
- Analysis and execution of inorganic growth, both in the healthcare and implementation of precision oncology technologies.
- Substantial increase in full-year EBITDA, recovering pre-pandemic EBITDA levels with particular emphasis on the second half of 2021.
Short-term Goals:
- Substantial increase in contract portfolio with pharmaceutical clients, distribution agreements for liquid biopsy diagnostic tests, and new agreements with diagnostic companies.
- Significant increase in patient volume, recovering pre-pandemic contribution margins in the second half of 2021.
- Increase in the technological portfolio of services, incorporating value-added tests from third parties.
Environmental Challenges
- COVID-19 pandemic impact on surgical procedures (-27.3%), processed oncology samples (-18.1%), and high-value-added revenue (surgery, diagnostics).
- Changes in revenue mix towards lower-margin tests (COVID-19 and clinical follow-up visits) impacting gross margin.
Mitigation Strategies
- Developed telematics visits and support for public administration visits in Menorca to increase oncology visits (16.4%).
- Secured record contracts with pharmaceutical industry (Roche, Turning Point Therapeutics, In3Bio) for high-value-added services.
- Established a COVID-19 unit for R&D of biomarkers, PCR testing services, and pre-clinical services to the pharmaceutical industry.
- Implemented internal control protocols and bi-weekly testing for employees to mitigate COVID-19 risks.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022-01 to 2022-06
Environmental Metrics
Social Achievements
- Increased number of employees by 14% due to QTI consolidation and corporate reinforcement.
Climate Goals & Targets
Medium-term Goals:
- Substantial increase in the contract portfolio with pharmaceutical clients.
Short-term Goals:
- Integration and consolidation of recently acquired companies.
Environmental Challenges
- Decrease in revenue from contracts with pharmaceutical companies.
- Supply chain disruptions
Mitigation Strategies
- Acquisition of Quenet Torrent Institute, S.L. to mitigate the decrease in revenue from pharmaceutical contracts.
- Increased investment in R&D for new diagnostic technologies.