Microsaic Share News (MSYS)

LONDON (Alliance News) - Microsaic Systems PLC said Wednesday that it has seen an improved performance in the second half of 2015, and it expects sales for the first half of 2016 to continue this positive trend.

The company, which develops miniaturised chip-based scientific instruments, sold seventeen of its 4000 MiD units - a mass spectrometry kit for chemists - in the second half of 2015 compared to just six in the first half.

Additionally, it has signed a new distributor agreement for 4000 MiD, which it will provide details of in its 2015 annual report.

Elsewhere, Microsaic has terminated a development deal with an undisclosed original equipment manufacturer partner it had announced in September 2014 following a strategic review of its route to market for its in development 'triple quad' technology. It is aiming to develop a prototype of this technology in the middle of 2016.

It has also identified a number of potential new application areas for its current 'single quad' products, and expects further original equipment manufacturer deals through 2016 and 2017.

Microsaic expects to announce its 2015 results on March 16.

Shares in Microsaic were untraded Wednesday morning. They last closed at 20.00 pence.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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