Last checked at 18 Mar 2019 07:00
18 March 2019
Microsaic Systems plc
("Microsaic" or the "Company")
OEM Agreement with Biometrics Technologies Co, Ltd.
Microsaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry ("MS") instruments, is pleased to announce that it has signed an original equipment manufacturer ("OEM") agreement with Biometrics Technologies Co, Ltd ("BMT") for the integration of the Microsaic 4500 MiD® MS detector with BMT's High Performance Liquid Chromatography ("HPLC") equipment, for distribution in Southeast Asia, Korea and India.
Established in 2013, BMT is a specialist OEM provider of life science and analytical equipment. BMT designs, develops and integrates high technology scientific instrumentation, with markets in Southeast Asia, Taiwan, Korea, the Middle East, and Oceana.
Glenn Tracey, CEO of Microsaic, commented, "I am very pleased to partner with BMT to integrate Microsaic's compact, point of need MS technology, with their HPLC products. The team at BMT has the in-depth technical expertise and this agreement further extends our reach into Asia.
"Southeast Asia, India and Korea are attractive growth markets for analytical chemistry, and this marks another milestone in what we expect to be a very exciting period of growth. Microsaic now has five distribution and four OEM agreements signed, opening markets for our products in North America, Europe, China, Taiwan, Southeast Asia, Korea and India.
"We work exclusively with local partners, knowledgeable in separation and MS technologies. Our strategy continues to be focused on business development in all key geographies."
Roger Chung, Managing Director of BMT, added: "By integrating with Microsaic's technology, we will be launching an entirely new product line, enabling us to offer our customers a total solution, improve our customers' research efficiency and offer a more ecologically friendly product."
Recently, Microsaic published its annual results for the year ending 2018, which showed a year on year doubling of unit sales, and with revenues up 69%. The Board believes that 2019 will be a year of significant growth in revenues, driven by the globally diverse partnerships signed in 2018, and the continued business development with new partners during 2019.
Enquiries:
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Microsaic Systems plc Glenn Tracey, CEO Bevan Metcalf, FD | +44 (0) 1483 751 577 |
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson (Corporate Finance) Tom Salvesen (Corporate Broking)
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+44 (0)20 7496 3000 |
IFC Advisory Ltd (Financial PR) Graham Herring Heather Armstrong Florence Chandler | +44 (0)20 3934 6630 |
About Microsaic Systems
Microsaic Systems plc (AIM: MSYS) is a high technology company developing chip-based, bench-top and point-of-analysis mass spectrometry ("MS") instruments that are designed to improve the efficiency of pharmaceutical R&D and manufacturing. The Company is working with established global life science companies to co-develop new solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines. MS is a powerful method of analysis to enable earlier decision making relating to product identification, purity and bioactivity, and is the analytical technique of choice for biochemists across many industry sectors.
Microsaic's core product, the 4500 MiD®, is a robust and compact MS system, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. For more information, please go to www.microsaic.com.