Pilot production payment for LabTech
Friday, 12 September, 2008
LabTech Systems (ASX: LBT) has sent pilot production units of its MicroStreak technology to partner bioMérieux, triggering a $1.74 million milestone payment.
LabTech Systems signed an exclusive license agreement with bioMérieux last year. The French diagnostics giant will market the technology under its PREVI Isola brand.
The technology is a high-speed robotic platform for agar plate streaking in microbiology and pathology labs.
This payment brings the total revenue from the agreement to $6.67 million.
The PREVI Isola will be on sale later this year. LabTech Systems also expects royalty payments to begin from January 1 next year.
Could this 'nanobone' material allow children to regrow bone?
Australian scientists believe they have found an alternative to invasive bone graft procedures in...
The last mile of life sciences innovation
How do we translate technological possibility into meaningful real-world impact?
Machine learning uncovers patterns in DNA methylation
A new machine-learning method identifies differentially methylated DNA regions without sample...
