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- Meditech company LBT Innovations (LBT) has signed a marketing agent agreement with Beckman Coulter for the marketing of the APAS Independence in Europe
- APAS Independence is a platform technology that automates culture plate screening
- Beckman Coulter develops, manufacturers, and markets products that simplify and automate complex biomedical testing
- Under the three-year agreement, Coulter will act as the marketing agent for APAS Independence and will receive a fixed referral fee for each sale
- This agreement will initially focus on the United Kingdom, France, and Germany, but the ability exists to expand into additional countries
- After entering a trading halt, LBT is steady on the market and shares are trading for 19 cents each
Meditech company LBT Innovations (LBT) has signed a marketing agent agreement with Beckman Coulter for the marketing of the APAS Independence in Europe.
Beckman Coulter develops, manufacturers, and markets products that simplify and automate complex biomedical testing.
Under the three-year agreement, Beckman Coulter will act as the marketing agent for APAS Independence and will receive a fixed referral fee from CCS for each sale and it may receive incentives for the completion of early sales.
CCS (Clever Culture Systems) is LBT Innovations’ 50:50 joint venture company in the commercialisation of APAS and it will take charge of the sales, installation, and maintenance of the product.
This agreement will initially focus on the United Kingdom, France, and Germany, but the ability exists to expand to additional countries.
“The management team has been working tirelessly with our counterparts at Beckman Coulter to deliver this collaboration, and we are excited to formalise this agreement,” CEO and Managing Director Brent Barnes said.
“This represents a significant step forward in our commercialisation strategy for the technology, adding the scale and strength of the Beckman Coulter brand to support our sales efforts in the region,” he added.
What is APAS Independence?
APAS (Automated Plate Assessment System) Independence is a platform technology that automates culture-plate screening and interpretation.
Thousands of agar plates are assessed every day and each one has to be thoroughly examined by a microbiologist.
APAS Independence speeds-up this process by automatically screening, interpreting, and sorting the plates. This frees up the microbiologist’s time.
A soft launch is expected in late 2020, which will then be followed by European meetings in 2021, with organisations like the European Congress of Clinical Microbiology and Infectious Diseases.
After entering a trading halt, LBT is steady on the market and shares are trading for 19 cents each.
