Welcome to the Q2 presentation. Since this is a virtual meeting, we have muted everybody's microphones, and we will unmute those at the end for the Q&A session. Today, it's myself, Jethro Holter, CEO, and Børge Sørvoll, our CFO, who will walk you through the presentation today. Today actually marks a new era for us. It's the first time we actually present as ArcticZymes Technologies. We rebranded the company from Biotec Pharmacon to ArcticZymes Technologies back in June. We're very proud of the new brand. It fits seamlessly and resonates well with our commitment to the enzymes business being our core future focus moving forward. With the new brand, we have a clear mission and vision. Our vision is, with our daily work, we want to make an important contribution to a healthier world.
Driven by this goal, our experienced scientists are constantly working to find and unlock new solutions. What this essentially means is that at the end of the day, for us, it's more than enzymes. We want to improve the healthcare down to the individual level, of people like you and I. Our mission, as experts in our field, we discover, develop, and provide enzymes without compromises on a consistently high level to make our customers' lives easier by unlocking new solutions. The key messaging here for us, it's really about enzymes without compromises. At the end of the day, why should our customers compromise their technologies? We provide really good enzymes with unique features, which allows them to develop the next generation technologies. This is really what ArcticZymes is all about and where we're going in the future.
The agenda for today is we're going to start with the highlights for Q2, and we're going to walk you through that. We'll talk about the updates for ArcticZymes. We'll walk you through the beta-glucans. Børge will take you through the Q2 financials. I'll end by giving you an outlook so you can see what to expect for the remainder of the year. We'll unmute your microphones and open up the Q&A session. In terms of highlights, what we've seen is, in a nutshell, we've had a very good Q2, where we've seen strong underlying growth. On top of that, we're seeing corona upsides contribute to the sales as well. When you have a look at the main achievements, we can see that the group Q2 EBITDA was NOK 27.3 million for the quarter.
That's versus NOK -0.5 million for the same period last year. When you look at the ArcticZymes sales for Q2, we had our best sales ever. We had NOK 33.4 million for Q2. For the same period last year, it was NOK 9 million. This accounts for 270% growth in the ArcticZymes business for Q2. When you look at the ArcticZymes sales, we do have some corona-related upsides in the sale, and we have approximately NOK 11 million in Q2 are related to corona-related sales. It's important to stress, these are just upsides. You take those upsides away, we still have very strong underlying growth in the main business. Also, we rebranded the company to ArcticZymes Technologies, which I mentioned earlier. On the Biotec BetaGlucans front, we've been operating the business profitably. Two consecutive quarters, we've operated that business profitably. Could I kindly ask people to mute their microphones?
We have quite a bit of background noise there. For the ArcticZymes updates, I want to walk you through the commercial achievements. As mentioned, we've grown the business 270% for ArcticZymes in Q2. There's two key contributing factors here. Firstly, it's the Therapeutics segment. This is the Salt Active Nuclease portfolio, where the SAN, for short. These enzymes are sold into gene therapy and vaccine production, where they're used to make therapeutic viruses. What we see is that the Therapeutics segment has contributed 34% to sales.[crosstalk] This growth is largely driven by new customers coming on board, as well as the increasing orders of magnitude in excess of NOK 1 million from our most well-established customers. We have not seen any slowdown in the Therapeutics segment with respect to corona. We still see that it's still going ahead in the developments ongoing out there.
During the quarter, we have seen new interest in the use of SAN enzymes for the development of COVID-19 vaccines. When you look at revenues, though, there is very little contribution of that to the revenues here at this stage, since these projects are very new. People who are developing COVID-19 vaccines, this is very new stuff. Those projects are kicking off. Like the rest of our therapeutic customers, they will start buying SAN in small quantities, and then as they progress through their developments, they will then put in increasingly more orders of larger sizes. A good example of where we're going here is we did sign a supply agreement with ReiThera. ReiThera is an Italian company who is a leader in developing DNA-based vaccines. They are going to use our SAN enzyme in the development of their COVID-19 vaccine.
SAN will be used to streamline one critical step in the manufacturing process. Basically, like all therapeutic customers here we're working with, SAN is used to remove contaminating DNA from the virus, which is very important to avoid adverse effects. On the other driver for growth for ArcticZymes was COVID-19 upsides, this relates to sales of multiple enzymes, but mainly the most sold enzyme here is the Cod UNG. In terms of COVID-19 upside, that contributed 33% of total sales in ArcticZymes. I think mostly you've observed what's happened in the market when it comes to COVID-19. Q2 is where the main peaks happened in most regions, I think this is very much reflected in our sales as well. I think what our operations team has done an excellent job here in Tromsø.
We've had that flexibility in order to take all orders that we received related to COVID-19. We're able to capture all commercial business related to that, where there's been an interest in our enzyme. Also it's about preparing for the future. In COVID-19, the upsides are very nice. Okay? Our interest here is really about capturing longer-term potential. What we want to do is we want to make sure our enzymes are integrated into the next generation, the viral diagnostic tests for Corona and other viruses as well. With this, what we've done is we've already rapidly scaled up the production batch size for Cod UNG during the quarter. We're ready to serve future demand here.
We talked a bit about Corona, but what I need to do is really stress, when we put Corona sales to one side, there is strong underlying growth in the business. Our top-line growth, if you take Corona away, is very much progressing according to plan. When we look at Corona upsides, we just see it as essentially icing on the cake. I think all in all, the business is progressing as planned. In terms of ArcticZymes, we have been working on innovations, and ArcticZymes has been recognized as a leading innovative company which can make a contribution towards the fight against Corona. As part of a national initiative, ArcticZymes was awarded two grants from Innovation Norway towards developing technologies against Corona. The first grant was for NOK 1.6 million, and that is towards accelerating the upscaling of SAN production.
We already had efforts ongoing here, but this just allows us to put more fuel on the fire. We can put more resourcing behind it. We can also work with other national partners to fast-track the scale-up of these enzymes. This really fits timely with the foreseen commercial demand for both COVID virus and non-COVID virus customer activities we're doing. The next grant we got was again for NOK 1.6 million. This grant relates to the commercialization of enzymes supporting COVID-19 and viral diagnostic test development. As mentioned, our goal with COVID-19, yes, we're enjoying the upsides, but we more want to capture long-term value by our enzymes being integrated into other companies' next- generation COVID-19 and viral diagnostic tests.
With that, what we're going to do is we're going to build other enzymes around Cod UNG, and these other enzymes will be very much optimized to work in viral diagnostics. This way, what we can do, we can provide a much broader offering of enzymes to viral diagnostic test developers. We end up giving a more complete offering to our customers and can take more of the value chain. A couple of examples of such enzymes would be reverse transcriptases, thermostable polymerases. Thermostable polymerases are hot polymerases. Other polymerases we have on the market are cold polymerases. By having the range of these different enzymes optimized for viral diagnostics, we can serve the tests that are made for PCR technologies and for non-PCR technologies such as LAMP amplification technology. Okay. Change gears here and talk a little bit about Biotec BetaGlucans.
In a nutshell, Biotec BetaGlucans is operating profitably when you look at the business as a whole. For two consecutive quarters, we've operated Biotec BetaGlucans profitably. In short, this is due to a combination of factors. One, this relates to the structural reorganization we did back in December. Also, we scaled back support for the Woulgan business since we're divesting that business. We also see a nice sales growth in the consumer health business and revenue contribution from the adjuvant sales. I'm going to walk you through each of these quickly. The first one in animal health. We saw lower Q2 sales compared to Q1 for the M-Glucan products. This was very much expected because we did get a large early order from our main customer in Q1, so we had some tailwinds there. With this business, we do expect fluctuations in sales for the remaining quarters.
Overall for the year, and as communicated earlier in previous presentations, we expect this business to be a flat business going forward. The consumer health business, we continue to see growth from the M-Gard sales. For the quarter, we had very strong growth compared to the quarter last year. We grew it over 500% in Q2. Growth is driven by new customers. Also, we do see upsides related to COVID-19 where manufacturers are targeting immunodefense against coronavirus. We approximately estimate 40% of the sales for Q2 here are related to coronavirus. When we look at the SBG sales relating to the adjuvant, we've had commitments to our customers, committed to us demand for SBG for the neuroblastoma clinical trials they've been doing, and linked to that annual commitment, we shipped the second order of SBG to them during the second quarter.
We've been moving forward with a licensing deal we're working on with a vaccine owner towards neuroblastoma. Here, part of this process always when you have these meetings, it's important to have face-to-face meetings. We managed to navigate around corona and had a face-to-face meeting at the end of the quarter in Tromsø. That was important because they needed to come and see the facilities for themselves and part of their due diligence. That helps drive the process forward. We had productive discussions, and certainly that visit set the stage for the next stages here. When it comes to Woulgan wound healing, sales were lower in Q2 compared to the same period last year. This was very much expected because we have made the decision to divest, and we're looking to support existing customers.
Also, during the quarter, we made the decision to discontinue Woulgan production. The decision was mainly due to the contract manufacturer we were using. That contract manufacturer has been aseptically filling the Woulgan tubes. The contract manufacturer filed for insolvency, which meant that they were unable to meet their commitments to produce the Woulgan tubes. There were some quality requirements they could not fulfill either. What we did was we did search around for alternative CMOs, and we evaluated them. We found no feasible options materialized that we considered would be economically viable for us or would circumvent a very lengthy backorder situation. With that, we made the decision to discontinue the Woulgan production. We have notified our customers about the discontinuation. We are going to continue supplying Woulgan stocks until they're depleted. We expect the Woulgan stock to be depleted during the second half.
From a revenue perspective, we will see the Woulgan sales phase out during the second half. When you look at the numbers, the numbers around Woulgan have a very minor contribution to overall sales. We don't see it having a major impact there in terms of our revenue contribution for the year. In terms of the divestment process, does it have a negative impact? No, because at the end of the day, the whole process around divestment hasn't been about divesting the Woulgan program tube. The process has actually been about divesting the technology platform, which is SBG for development of a broader wound healing portfolio. The beauty of that is that we have a hefty and substantial documentation package to back that up to a potential new owner. Regarding the divestment process, that is moving forward.
However, it is moving forward at a bit of a slower pace than originally planned. This is due to the corona situation. I think when you look at the industry, it doesn't matter. This is for all processes right now, divestment processes. They are moving slower due to corona right now. Despite the slowdown, the discussions are ongoing with several interested parties. That's a snapshot of where we are with the Biotec BetaGlucans business. Now I'm going to hand over to Børge, who will walk you through the financials
Thank you, Jethro. I will give you a few more details on the underlying performance that Jethro has talked about. I think it's quite fair to say that we are proud of how we have managed to turn the group around from a loss-making business into a profitable business. This brings us straight into the core of the business where we talk about the ArcticZymes sales. If you look at the sales, ArcticZymes had sales growth for more than 270% compared to the same quarter last year. We have managed to secure NOK 33.4 million in sales revenues, compared to NOK 9 million at the same time last year, and NOK 18 million in Q1 this year.
Taking away the upsides related to the corona pandemic, we have still managed to have a substantial growth in the company by more than 150%, where we have actually grown the company from NOK 9 million last year to NOK 23 million this year. As Jethro said, the growth in the Therapeutics segment has played a vital role in the sales now, as they are continuing to grow, and they had more than NOK 11 million in sales now just for this quarter. It's also important to remember that the Therapeutics segment had zero in sales in 2016. We have seen a good growth in this part of the business. We also see that we have good growth in the Therapeutics and in the Research and Diagnostics segments. We have an underlying growth of 130% compared to the same quarter last year.
This is also when we have taken away all of the upsides here. By looking at the table on the right-hand side here, you can see that the business has shown steady growth in basically all quarters over the last two years. Of course, there will always be quarters that can be lower than others. Overall, our ambition to have solid underlying growth in the business here. Also, if you can see here, if you look at the sales figures from Q1 2020 and Q4 2019, you can see that underlying growth was lower than Q4. Of course, when you bring in the coronavirus upsides, you can see that we had a growth in this quarter as well. For the first six months, I think I'm just going to try and stop here because some noise on the line here. Yeah.
Looking at the first six months, we have an underlying growth of more than 120% for the business. Including upsides, we have a growth of more than 200% compared to the first six months of 2019 here. Okay, I think we'll just move on to the financial performance. You can take the next slide, Jethro. As I already talked about in the previous slide, our sales have grown substantially, both in the quarter and for the first six months. Even though our sales have growth, we have only increased our expenses by NOK 1 million on the quarterly basis and NOK 1.5 million for the first six months. Of course, the increase in the operating expenses is explained by the restructuring we did in December last year and the refocusing we did.
Also, of course, there have been some added expenses with increased activity levels we've had in the first half of the year. Of course, with increased sales and a small increase in operating expenses, we have achieved an EBITDA of close to NOK 25 million for the quarter and more than NOK 35 million for the first six months of the year. Also what is a little bit interesting, if you look at the table on the right-hand side, you can see the relationship between sales and EBITDA here. From what we can see here is that when sales passes around NOK 8 million-NOK 9 million on a quarterly basis, basically everything drops down to the bottom line here. This is also why we can show an EBITDA margin of 74% for the first six months and 68% for the first six months of the year.
I think moving on to the looking at the non-core part of the business now. Sales are close to NOK 5 million lower than we experienced in the first quarter this year. Compared to the same quarter last year, we have seen a growth of close to NOK 3 million. Even though sales are lower, products mix has changed from a low-margin business to the high-margin business here. Animal health, that Jethro talked about, which is a low-margin business for us, will continue to fluctuate from quarter- to- quarter. We expect, as he said, annual sales to be flat here. What is really positive now for the second quarter is that we have experienced good growth in the consumer health part of the business.
Sales have now passed NOK 5 million for the quarter. Also, as Jethro talked about, NOK 2 million can be allocated to the upsides related to the corona pandemic. Of course, we also see the increase in number of customers buying this product. There's been steady growth in our consumer health. Woulgan sales, which we have decided to divest, had revenues of NOK 0.8 million for the quarter. Lower sales in this part of the business can, of course, be partly explained by the corona pandemic and a little bit set back in societies. Also because there is this uncertainty regards to future supply of Woulgan, as we no longer have the CMO, as Jethro talked about as well.
At the end of the year, we don't expect any more revenues from the Woulgan part of the business unless the divestment is concluded. Also for the second straight quarter, we have managed to secure revenues from the adjuvant side of the business. This one is actually on the same level as we experienced in the first quarter. Looking at the performance side of the business here, as we continue to deliver positive results for the business, this is the second straight quarter that we have a positive EBITDA, we have a positive EBITDA of more than NOK 4 million in the quarter. Of course, this is partly explained by the change in product mix, it also is explained by that we have managed to reduce our expenses in this part of the business here.
You can also see that from the table on the right side, that we have managed now to have good EBITDA margin as well. We had 27% in the first quarter and 38% in the second quarter, giving us a close to 30% EBITDA margin for the first six months here as well. As we have said now, we have decided to divest Woulgan. By divesting Woulgan, our expenses have been reduced significantly. Looking for the first six months, expenses are reduced by close to NOK 5 million for the first six months and a little bit more than NOK 2 million for the second quarter. Going over to the group figures. Of course, given that our performance for the first six months had been exceptional.
We had an EBITDA for the second quarter of NOK 27 million, compared to a loss of NOK half a million in the same quarter last year. Also what we can see is that for the first six months of the year, we have an EBITDA of NOK 41 million compared to a loss of NOK 5 million for the same time last year. This gives us an improvement of close to NOK 50 million just comparing the first six months in the two years now. Of course, I think the explanation behind it is quite obvious, and I think we have seen strong growth in our underlying business. We have upsides relating to the corona pandemic, and we had good control on our own expenses as well.
As you can see on the table on the left-hand side, you can also see that we have good margin improvement in the business here. If you're looking at Q2, we have an EBITDA margin of 61%, in Q1, we had an EBITDA margin of 40%, and this gives us an EBITDA margin of close to 50% for the first six months of the year, which is really good. If this will continue going forward, that remains to be seen. Of course, I think going into the cash flow side of the business. Cash flow is, of course, dictated by the underlying growth in the business here. Our cash position has been significantly strengthened over the last year.
We had a cash balance at the end of the year at NOK 56 million, which is an increase of more than NOK 20 million compared to Q1 this year, an increase of NOK 35 million compared to the same time last year. With that, I think I can say from a financial perspective, Q2 has been an exceptional quarter that gives us a solid foundation for future growth and profitability. With that, I think I will hand it over to you, Jethro, to tell us a little bit more on what we can expect going forward now.
Okay. Thank you, Børge, really getting under the hood on what's driving the business with the numbers. Thank you. We go to the outlook now, it's really what to expect for the rest of the year and beyond. The key focus for us is really about driving the strategic growth and profitability. When it comes to profitability, we fully expect to deliver on our number one goal in achieving profitability during 2020. It really speaks for itself when you look at the numbers there. When it comes to the Coronavirus upsides, we've seen the peak of the outbreak in Q2. Now we're at the back end of that outbreak. Also, we have seen in the supply chain that customers are very well stocked up.
That what we're seeing is in many ways, customers have been-- it's a bit like the toilet roll syndrome, where all toilet rolls are scarce, so people are just buying them up. We're seeing that somewhat here in the market here where assay developers are buying a lot of enzymes in excess. With that, with those factors in play, we do expect that the upsides we've had in Corona will be lower during the second half. Of course, when it comes to Corona, as mentioned, our focus is, yes, the upsides are very nice. These things were never planned for the business. What we are focusing on here is more the longer term where we want to get our enzymes locked into the next generation tests. That's where the long-term value is created.
The third component here is really about focusing on growth. We've seen we have very nice growth in the underlying business. This is the business when you strip away Corona. That's that long-term business that we've been growing year on year. Of course, with our underlying business, it's based on new customers that's been coming on board that become long-term customers of ours. They start buying products, one product, then they buy other enzymes, and those relationships grow. That business is growing. The momentum's continuing to grow there. Of course, going into the second half, we expect that growth to continue in the underlying business. Again, the Corona is just the cherry on top. No upside on top of that.
Of course, growth is also about, and to a certain way, growth is really about what you do in the future and bringing in new opportunities. We have our existing business, and we're going to continue. That will grow, and we want to continue growing those existing relationships by getting them to take on more products. Also, it's about finding new customers as well. A lot of the focus is towards new opportunities, where we want to drive. Here we want to cement the foundations for 2021 and beyond. That's what the team is really working on. Also, this relates to the new innovations we're doing. New enzymes we're bringing on market also opens up new opportunities for us in the market. That's a little bit of a flavor where we're going into the second half.
With that, I'd like to end there. We can unmute microphones, and answer any questions you have. Thank you.
Jethro, can you hear me?
Yes.
This is [David Zetterlund] of [I ndian Partners.
Hi, David.
Just what a fantastic quarter. Congratulations. Really beat our wildest expectations, I must say.
Thank you.
I guess, setting corona aside, as you always want to point out that this is a short-term upside, obviously. The reason that we're really excited about ArcticZymes to start with is the gene therapy exposure that you have. I was just listening to a presentation by the Sarepta Therapeutics CEO the other day, pointing out that there are 800 INDs at the FDA for different gene therapies. There are some 300 projects undergoing clinical research at the moment. Can you talk about the potential for ArcticZymes in the gene therapy field long term? How many of these 300 therapies in clinic are viral-based? Also, do you have any insight to such number for the INDs at the FDA?
If you can talk about the volume ramp-up for you when such a project typically moves from pre-clinical to phase I, to phase II, and then into, yeah, production, I guess.
Yes. I can talk to some of that. There's a lot there. I can give you a kind of perspective where we are. Let's start from products. Two areas we're focusing on is we're very much focused on AAV, and that's been the main virus that's been used in gene therapy, and that's where our SAN HQ enzyme has been focused, and that's where most of the cells are today in that area. What we did is, but we know in gene therapy there are other viruses used, such as lentivirus, and that's actually used in cell therapy for CAR T, things like that as well. We want to push down that area as well, and that's why we launched another SAN enzyme, M-SAN. We launched not so long ago. That's for targeting that market for that type of virus and other viruses too.
We want to have enzymes here that will be able to touch all viruses here, so we can capture anybody making virus at the end of the day. Of course, when it comes to gene therapy, you're right. Virus is just one way to do gene therapy using viruses. There are other ways of delivering. For everybody on the call here, let's make it simple. Why do you use virus? Well, virus is basically like a microscopic syringe. It will inject a therapeutic DNA into cells. That's why you use virus. There are other delivery mechanisms out there, which can be, for instance, lipid-based, where you have a fat that delivers the therapeutic DNA into cells. There's also technology like CRISPR, gene editing technology, that is being considered, but that's in a much earlier stage. There, that technology can also be used viruses as well.
Of course, when you take the cells out of the patients and modify them and put them in, that's a kind of gene therapy itself therapy. There you can use electroporation or use electric shock to get DNA into cells. Of course, you have all these technologies out there when it comes to modifying DNA. At the end of the day, it really depends on the individual disease and the therapeutic regime you need to which one of these tools you select. I think, when you look at, well, how much of this is related to viral diagnostics. At least from where we are, what we've had, we have in terms of our customer base and opportunities in the pipeline, and our funnel, we're working with over 100 customers when it comes to people developing viral diagnostics. We know not everybody's gonna be successful there.
The point is here, we have such a broad portfolio of customers that we know some of those will drop off, of course, as you do in any therapeutic area. What's important to stress is none of the customers we have today are commercialized yet. They are all preclinical or early clinical trial stage. What I alluded to earlier is that in terms of scale and what we've seen is, when customers start out, they buy a few thousand krone of product to start with. Then that rapidly ramps. If you think of some of our earlier customers we started working with back in 2016, today they're putting individual orders in of over NOK 1 million. Remember, they haven't commercialized at this stage, and we do expect larger orders from those customers down the road.
I think I'm trying to give you a flavor of the business, on how it materializes. We are still at the early stage in terms of our relationships with our customers here. I hope that, David, does that give you a bit more perspective of where we are?
Yes.
It's a very interesting question, could take a very long time to answer in a lot more detail.
A blockbuster gene therapy, for example, what would such a drug require in terms of enzyme volumes?
Yeah. There's two things here. One is, today we're not there. I think when you look at somebody going in the therapeutic Let's say somebody reaches it, and nobody has yet. This is still theoretical for us. You'd probably be looking between NOK 5 million-NOK 10 million, and that's putting my neck out because we're not actually locked down. Nobody's at that stage yet. That's kind of what we're looking at as a kind of annual sale. Again, it depends what the therapeutic regime is. Of course, each disease you're targeting is different, will require a different type of virus, and different things need to be taken into account here. That's the kind of volumes that we see. I think what we've seen in the industry, and this is something which is very well published out there.
It is difficult to achieve the scale that is needed for the therapeutic demand in the future. This is why companies are very much looking at that scale-up to get the scalability they need for the treatments down the line. This is why we're preparing with scaling up the SAN products, so we have that commercial scale needed as our customers move towards commercialization. Again, when I said about commercialization, of course, a lot of enzymes are used during developments. We know not everybody is going to be successful. Some of those clinical trials will fail. That's natural. Since there are a vast opportunity funnel with different customers we're working with, I think that's the beauty of it. If some fall off, it doesn't matter. We have enough customers in our pipeline to handle that.
I think, the numbers show for itself how this business is progressing for us. Of course, we're looking at how can we capture more value there in our innovations as well. There are other things we can do to take more value here.
Great. Thanks.
Any other questions?
Hello.
Hello.
[Mads Mikkelsen] here. I have a question about Cod UNG.
There's a huge volume of PCR tests globally for COVID, including Thermo Fisher and many others. How successful can you be in penetrating this market with Cod UNG going forward? Will you actively do something to achieve a greater penetration?
Exactly. Let's come back to what we talked about with the innovations. One of the grants that we have and something that we want to do is, don't get me wrong, the upsides are nice and that's good we were able to do it. What we want to do is take advantage of the longer-term potential of coronavirus and viral diagnostics. Corona is just one virus. There's a lot of other viruses out there. Of course, we want to make sure that we make enzymes that are optimized for viral diagnostics. Cod UNG is one of those. The grant we have got, and irrespective we got the grant or not, we would've done it anyway, but it just gives us some extra fuel. What we're going to do is we're going to develop other content around Cod UNG where we optimize other enzymes.
Because when you do a viral diagnostic COVID-19 test, it's not just one enzyme you're using. You're using several different enzymes to make that test. What we want to do is provide all those enzymes that are also optimized to work together, and in that kind of environment you need to be tailored for viruses. That's part of what we're doing. We very actively want to do that. We want to take more of the value chain and just not make it about Cod UNG. We're going to make those polymerases, the hot polymerases, which are used in PCR. We also want to make the reverse transcriptases. These are the enzymes that convert a different genetic molecule, RNA, to DNA.
Of course, we want to optimize some of our other enzymes, such as our isothermal polymerases, and those enzymes are used in non-PCR amplification technologies like LAMP, where you want to optimize it to fit for optimized viral diagnostics. It's already on our innovation map. We're working on it. We want to capture more value from that beyond just the Cod UNG. When you look at Cod UNG, we've seen many new customers come on board. Our existing customers are in Q2 integrating Cod UNG into their rapidly launched COVID-19 tests. Then we've been very well-positioned operationally to take advantage of all those upsides that are coming in. We've had that flexibility in production to accommodate those upsides. Of course, we want to capture more through other enzymes down the line.
Thank you.
Anyone else? Unless there are any further questions, I think we just thank you all for participating at this second quarter presentation. I think we just leave it at that.
Thank you.
Wish everyone a good day.
Have a good day. Thank you.