- Biotech company LBT Innovations (LBT) was up more than 14 per cent today after selling its APAS Independence platform to the Limbach Group in Germany
- Significantly, this marks the first sale of APAS Independence to Limbach’s technology leader, Labor Dr Gärtner
- The sale follows a six-month evaluation of the technology and was completed by LBT’s joint venture company, Clever Culture Systems
- It includes a five-year software licence for the MRSA analysis module, as well as an ongoing service contract
- APAS Independence is LBT’s platform technology which automates and speeds-up culture plate screening
- LBT is still up a healthy 14.6 per cent and shares are trading for 13.8 cents each
Biotech company LBT Innovations (LBT) was up more than 14 per cent today after selling its APAS Independence platform to the Limbach Group in Germany.
The Limbach Group is made up of over 30 laboratories and is the largest network of laboratories in Germany.
Significantly, this marks the first sales of APAS Independence to Limbach’s technology leader, Labor Dr Gärtner.
Labor Dr Gärtner is one of the largest and most efficient laboratories in southern Germany, offering full diagnostic services to meet demands of the local community.
The sale follows a six-month evaluation of the technology and was completed by LBT’s joint venture company, Clever Culture Systems (CCS).
It includes a five year software licence for the MRSA analysis module as well as an ongoing service contract.
Installation, calibration and maintenance will be completed by CCS’s service provider to ensure the technology is operational.
“This sale commences an exciting relationship, not just just with Labor Dr Gärtner, but with the broader Limbach Group,” CEO and Managing Director Brent Banes said.
“We look forward to supporting the laboratory through the installation process and continuing to work with them to ensure ongoing success which we expect will be keenly watched by the broader Limbach Group,” he added.
APAS (Automated Plate Assessment System) Independence is a platform technology which 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 — freeing up the microbiologist’s time.
LBT is still up a healthy 14.6 per cent and shares are trading for 13.8 cents each at 12:39 pm AEDT.