(Alliance News) - Surrey, England-based mass spectrometry equipment firm Microsaic Systems PLC on Tuesday said it has signed a manufacturing services framework with DeepVerge PLC, a Dublin-based environmental and life science group.
The contract, worth GBP400,000, aims to refine and miniaturise existing monitoring equipment for environmental and human health diagnostics.
The agreement extends the companies' existing relationship which was formalised in a three-year framework agreement announced back in March of last year, Microsaic explained. Under the deal, Microsaic supplies its own miniaturised mass spectrometry equipment and services across DeepVerge's global sales, marketing and distribution channels.
Meanwhile, DeepVerge published an update for the first quarter of 2022. Sales were up 84% to GBP2.4 million from GBP1.3 million a year ago. "Post-Covid, marketing and sales activity has been intensified across all international markets," the company reported.
Microsaic shares were 7.3% lower at 0.095 pence each in London on Tuesday morning, while DeepVerge shares were down 1.6% at 15.00p.
By Tom Budszus; tombudszus@alliancenews.com
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Microsaic (MSYS)