Re Agreement

RNS Number : 7476E

Microsaic Systems plc

14 April 2014

 



Microsaic Systems plc

("Microsaic" or the "Company")

Microsaic Systems Signs Pre-Contract Commercial Agreement with Leading Global Supplier of Scientific Instrumentation in Healthcare Markets

14 April 2014: Microsaic Systems plc (AIM: MSYS), the high technology company developing next generation mass spectrometry instruments, is pleased to announce the signing of a pre-contract commercial agreement to provide its miniature mass spectrometer - the Microsaic 4000 MiD^® - as an Original Equipment Manufacturer (OEM). The agreement is for the global, exclusive marketing and sale of the 4000 MiD^®, along with Microsaic's recently released MiDas interface unit, as a stand-alone instrument for use in protein separation applications. The partner is a major international healthcare equipment company.

The agreement is focused on the use of the 4000 MiD in combination with protein separation, a major application that is used globally and has increasing market demand. It follows a period of R&D collaboration in which Microsaic has successfully adapted and enhanced the 4000 MiD to address this new application.

Microsaic and the partner will now work towards completion and signing of a full commercial contract by the end of the 2014 calendar year. The contract is anticipated to include a commitment to purchase up to 50 units and consumables of the 4000 MiD in the first year, increasing to over 200 units and consumables from the fourth year onwards. The initial period of the contract is expected to be 48 months. The selling price is in line with the Board's expectations. Shipments under the agreement are anticipated to commence in Q1 2015.

Colin Jump, Chief Executive of Microsaic Systems, commented:

"We are delighted to begin this new OEM relationship with one of the leading global suppliers of healthcare instrumentation. This relationship will introduce a substantial new market segment for Microsaic. We believe that our unique 4000 MiD system has the potential to make mass spectrometry more accessible to lab scientists than ever before, thereby opening up new opportunities across a wide range of applications and formats. This potential is already being realised through our existing partnerships and we are excited about the future prospects for the 4000 MiD and other innovative products being developed." 

Contacts

Microsaic Systems Colin Jump, CEO	Via Citigate Dewe Rogerson
Numis Securities Limited Stuart Skinner (Nominated Adviser) James Serjeant (Broker)	[phone]
Citigate Dewe Rogerson (Financial PR) Mark Swallow, Malcolm Robertson, Chris Gardner	[phone]/2867/2995

About Microsaic Systems

Microsaic Systems Microsaic Systems plc is a high technology company developing and marketing next generation mass spectrometry (MS) instruments for the analysis of gaseous, liquid and solid samples. Microsaic has successfully miniaturised mass spectrometry by integrating the key MS components onto patented chip technologies called ionchip®, spraychip® and vac-chip™. Microsaic's MS products retain the speed and sensitivity of larger, conventional MS systems but are substantially smaller, lighter, consume less energy and have lower running costs. The Microsaic 4000 MiD is the world's smallest MS system.

Mass spectrometry is a 'gold-standard' analytical technique used across many industry sectors, including government, energy, utilities, pharmaceutical, diagnostics and healthcare, environmental, food and drink, security and defence, and industrial chemicals - a combined market of $3 billion in 2012.

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   

 

END

 

 

AGREAPLLFDNLEEF