Microsaic Systems plc Signing of agreement to support China operations (8319M)
24 September 2021 - 4:00PM
UK Regulatory
TIDMMSYS
RNS Number : 8319M
Microsaic Systems plc
24 September 2021
24 September 2021
Microsaic Systems plc
("Microsaic" or the "Company")
Microsaic sign manufacturing, supply, and service agreement to
support China operations
Production assembly to commence this year and on track for China
medical device licence in 2022
Microsaic Systems plc (AIM: MSYS), the developer of point of
need mass spectrometry ("MS") instruments and solutions, is pleased
to announce it has signed an agreement with Jiangsu Henzhihe
Technologies Co. Ltd. ("HZH"), to support the Company's
relationship with the Chinese distributor (the "Distributor"), with
whom the Company announced a signed Heads of Terms for its
micro-engineered MS technology (per the RNS dated 4 May 2021).
Under the agreement ("Agreement"), HZH will provide integration and
service support for Microsaic's operations in China.
HZH will act as the manufacturer, integrator, and service centre
in support of distribution and prospective OEM partnerships in
China. HZH is a recently incorporated entity whose directors have a
long history of working with MS in China and manufacturing other
analytical devices, and in active pharmaceutical ingredients
("API"). Their relationships include large analytical
instrumentation and pharmaceutical companies. HZH and Microsaic
will collaborate with distribution partners to access and service
other substantial growth opportunities in the Chinese market.
Production in China of the MS hospital diagnostic monitoring
equipment is expected to commence before the end of this year to
support the Chinese Distributor through local production and
service support, which are pre-requisites to securing a medical
license . The Agreement establishes a local presence for Microsaic,
accelerating the Company's growth opportunity in China. With an
addressable market of 33,000 hospitals having 7.9 million beds(1) ,
having the ability to scale local production for MS therapeutic
drug monitoring ("TDM") and maintain supply and service capability
is essential.
Multiple revenue streams are expected in due course, consisting
of the sale of MS TDM units, franchise services and sales of
reagents, in-line with Microsaic's business strategy.
Once the medical license in China has been secured in 2022, HZH
and the Company estimate a target rising to 100 units per annum for
each therapeutic drug monitoring sector over the next two to three
years, and there several sectors in this market and in other
analytical sectors. HZH has confirmed it can meet the prospective
demand requirements of Microsaic for China and the rest of the
world.
Glenn Tracey, CEO of Microsaic Systems plc, commented:
"With the Company on track to secure a China medical device
licence in 2022, developing the capability with local partners for
mass production of Microsaic equipment in China represents a
significant opportunity to reduce costs and increase available
margins for these devices. This demonstrates our commitment to
position our point-of-need technology in a broad range of key
verticals within the human health diagnostics sector.
"With a focus on commercialisation of sample-to-result
platforms, and equipment with network management software
capability (and later artificial intelligence ("AI") software, we
look forward to providing further updates on production and
distribution to the market as they arise ."
Abbin Huang, MD of HZH, commented:
"The Microsaic miniaturised mass spectrometers are unique and of
great interest for a range of markets in China. We particularly see
great potential in clinical and bioprocessing applications where
real-time, point - of - need data is extremely valuable. We look
forward to a long-term and close collaboration with Microsaic to
serve the needs of the Chinese market ."
(1) China Hospital Industry Report, 2019-2025
Enquiries:
Microsaic Systems plc
Glenn Tracey, CEO - Bevan Metcalf,
FD +44 (0)1483 751 577
Singer Capital Markets (Nominated
Adviser & Joint Broker) +44 (0)20 7496 3000
Aubrey Powell / Tom Salvesen /
George Tzimas
Turner Pope Investments (TPI) Limited
(Broker)
Andy Thacker / James Pope +44 (0) 20 3657 0050
About Microsaic
Microsaic listed on AIM in 2011 to develop and commercialise
micro-engineering chip-based mass spectrometry equipment. Having
invested GBP30m over the last 20 years before and after the IPO,
Microsaic has a robust patent portfolio in cutting-edge technology
purpose built for "Industry 4.0" which enables analytical detection
and characterisation at the point-of-need, whether within a human
health environment, conventional laboratory setting, or within a
bioprocessing facility for continuous mass spectrometer detection
and monitoring of data at any step in the process workflow.
About Jiangsu Henzhihe Technologies Co. Ltd
An OEM provider of analytical solutions which includes hardware,
such as HPLC, Mass Spectrometers, sample preparation devices etc.,
software and application development, for the markets ranging from
environmental and food testing to pharmaceutical analysis, as well
as clinical diagnostic analysis.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
AGRBCGDCDBDDGBX
(END) Dow Jones Newswires
September 24, 2021 02:00 ET (06:00 GMT)
Microsaic Systems (LSE:MSYS)
Historical Stock Chart
From Apr 2024 to May 2024
Microsaic Systems (LSE:MSYS)
Historical Stock Chart
From May 2023 to May 2024
