Last checked at 9 May 2012 07:00
Microsaic Systems plc
("Microsaic" or the "Company")
Microsaic Signs Commercial Agreement for Novel Miniaturised Chip-based Scientific Instrument with International Partner
09 May 2012
Microsaic Systems plc (AIM: MSYS), the developer of chip-based scientific instruments, is pleased to announce the signing of a significant agreement to provide its miniature mass spectrometer - the Microsaic MiD - as an Original Equipment Manufacturer (OEM) to an international supplier of laboratory equipment. Under the terms of the agreement, the new supplier will commit to an initial minimum quantity of 100 units during the first 30 months. Shipments to the supplier will begin later in 2012. No further details are disclosed.
Eric Yeatman, Chief Executive of Microsaic Systems, commented:
"One of Microsaic's key strategic aims is to grow sales of our innovative products as an OEM partner with leading international suppliers of scientific instruments in specified application areas of chemical separation and purification. Our objective is to benefit from access to an existing customer base and also to make mass spectrometry available to a wide range of new customers and to open new opportunities. With the agreement we announce today we have formalised an important such relationship in a major and growing sector which is ideally matched to the capabilities and benefits of our uniquely deployable, self-contained instruments.
"In combination with direct sales, and the multiple complementary OEM channels under development, the Board believes this represents the beginning of a prosperous future for the company and its products."
Contacts
Microsaic Systems Eric Yeatman, CEO Colin Nicholl, Chairman
| Via Citigate Dewe Rogerson |
Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker)
| +44 (0)20 7260 1000 |
Citigate Dewe Rogerson (Financial PR) Chris Gardner, Mark Swallow, Malcolm Robertson
| +44 (0)20 7282 2995/2948 |
The Scott Partnership (Trade PR) Sarah Evans | +44 (0)1477 539540 |
About Microsaic Systems
Microsaic Systems develops chip-based scientific instruments for the identification of substances in solids, liquids and gases. The Company's products are based on the 'gold-standard' scientific technique of mass spectrometry (MS).
Microsaic Systems has developed a miniaturised mass spectrometer product, based on its patented, chip-based technologies (ionchip®, spraychip® and vac-chip™), that is smaller, lighter, quieter, more energy efficient and cheaper to run than conventional MS systems.
Mass spectrometry (MS) is used across multiple sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3.3 billion in 2010.
Microsaic Systems was established in 2001 by a team including founders from Imperial College London, and was admitted to AIM in April 2011 under the symbol MSYS.
www.microsaic.com