Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry instruments, announces that it has signed a research agreement extending its collaboration with a long standing global partner in the scale up and manufacture of biopharmaceutical drugs. This amendment to the agreement has been entered into following the successful completion of a collaboration stage contracted in a previous amendment announced on 7 April 2017.
Glenn Tracey, CEO of Microsaic Systems plc, commented: “We are delighted to agree this new phase of our collaboration with one of the foremost players in the global market for scientific instrumentation, which is in line with the Company’s strategy to focus on application areas in bioprocessing and diagnostics. Since our previous announcement in April, in cooperation with the partner, we have demonstrated the technical feasibility of a specific biopharma application, and established the interest of end users. In this most recent contracted phase, which is expected to last into H2 2018, we will work closely with the partner to further integrate our MS technology with their world leading purification equipment. Our goal is that this will be followed by full product development and launch. If this goal is realised, we estimate that this product alone will represent a major commercial opportunity for Microsaic. Additionally, we will be evaluating other potential applications with this partner.
“I am pleased that with this extension and deepening of our collaboration, our partner is demonstrating confidence both in Microsaic’s MS technology, and in the potential of miniature MS in the bioprocessing industry.”
This announcement is released by Microsaic Systems plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the agreement described herein, and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Glenn Tracey, CEO.