Bluechiip Eyes 2025 Growth Amid Strategic Review and BioLife Partnership

ASX Suspension and Reporting Delays

Bluechiip Limited’s shares remain suspended from quotation on the ASX as the company works to lodge its full year 2024 audited accounts and Annual Report. This suspension, ongoing since mid-2024, reflects the challenges the company has faced in finalising its financial statements, compounded by unforeseen events such as the hospitalisation of its Financial Controller in late 2024. Despite these hurdles, Bluechiip has maintained transparent communication with the market and its auditors, PKF, aiming for an orderly resolution that will allow the resumption of trading.

Strategic Review: A Thorough and Deliberate Process

Mid-2024 saw Bluechiip embark on a comprehensive Strategic Review, a process that remains active and central to the company’s future direction. The review is not merely a formality but a deep dive into securing strategic partnerships, refinancing options, and evaluating potential investment or sale opportunities. Assisted by EU-based advisor Cogent Venture Partners, the board is deliberately avoiding rushed decisions to ensure all avenues are thoroughly explored. This measured approach underscores the company’s commitment to long-term value creation rather than short-term fixes.

The BioLife Deal: A Catalyst for Growth

A highlight of the Strategic Review’s progress is the December 2024 BioLife deal, which Bluechiip describes as a very important development. This partnership not only brings immediate sales revenue but also serves as a platform for expanding product rollout throughout 2025. The company is focused on maximising growth from this deal while leveraging its existing customer base, which includes four large pharmaceutical companies and a major Ivy League institution. With 18 customers across multiple laboratories, Bluechiip’s technology is gaining crucial validation in the competitive biotech landscape.

Technology and Market Positioning

Bluechiip’s patented MEMS-based wireless tracking technology represents a generational shift in biological sample management, offering temperature monitoring in cryogenic environments without electronics. This innovation addresses critical needs in healthcare, clinical trials, and biobanking, among other sectors. The company’s solution withstands extreme conditions such as autoclaving and gamma irradiation, positioning it well within a large and growing addressable market. The solid customer base established in 2024 provides a foundation for scaling sales and moving towards cash-flow break-even.

Financial Support and Outlook

During the Strategic Review, Bluechiip has secured nearly $1 million in financial support from shareholders, including $281,000 in loan facilities from board members. This backing reflects confidence in the company’s strategic direction and the potential of its technology. Looking ahead, 2025 is framed as a pivotal year, with management prioritising revenue growth from the BioLife partnership and expansion within existing and new customer segments. Achieving cash-flow break-even remains the critical milestone on the horizon.