MELBOURNE: Vitrafy Life Sciences Limited (ASX: VFY) reported a significant increase in cash reserves and outlined aggressive commercialisation plans for FY26, following a year of strategic progress in cryopreservation technology across multiple sectors.
The company closed FY25 with A$29.6 million in cash and liquid assets, up from A$6.4 million the previous year, supported by a successful IPO and a A$4.8 million grant from the Australian Industry Growth Fund.
Despite a net loss before tax of A$32.7 million, Vitrafy attributed the figure to one-off non-cash items including convertible note conversions and share-based payments.
CEO Kate Munnings, who will be succeeded by co-founder Brent Owens in September, said the company is poised to launch its unregulated cryopreservation product in the first half of FY26, followed by a regulated medical device in the second half.
Operational highlights included:
- Completion of a Phase 1 study with the U.S. Military on cryopreserved blood platelets, with results exceeding industry standards.
- Validation of Vitrafy’s technology in cell and gene therapy applications, showing superior post-thaw viability.
- Expansion into aquaculture and bovine reproduction markets, with consistent fertilisation and motility outcomes.
Vitrafy also advanced its proprietary LifeChain™ software and VCU2 hardware platform, laying the groundwork for scalable manufacturing and global integration.
The company plans to scale its U.S. operations, deepen collaborations in human health, and pursue commercial partnerships across biotechnology, academia, and biobanking.