XRT signs electron microscope deal with Gatan

Unlisted imaging company XRT, an investee of BioTech Capital (ASX:BTC), has entered a deal with Californian-based electron microscope accessory and software manufacturer Gatan to develop and distribute an x-ray microscope product for use with electron microscopes.

"Basically, it's an accessory for an electron microscope which turns the microscope into a high performing x-ray machine," said XRT's managing director Grant Dow.

Often this sort of technology produces "images that look like a hologram", Dow said, but XRT uses software that post-processes the images so they appear real. The new product will allow users to see the internal structure of materials with resolutions down to 1000th of the diameter of a human hair. XRT will grant a license to Gatan to both its X-ray imaging technology and the software that interprets the image. In return, XRT will receive an up-front payment as well as royalties on future instrument sales from Gatan.

Analytical deal

XRT also signed a deal in March with an unnamed analytical company to incorporate XRT's phase contrast technology in 3D metrology and analysis instruments.

Dow would not reveal the name of the company but did say the market in which it operated did not routinely use this type of imaging. He also said that while Gatan works in the nanotechnology space, the unnamed company uses equipment to look at much bigger objects.

XRT is currently building a functional prototype that will demonstrate that its technology works in this context, with the final form of the tool being decided by the analytical company.

UK relocation

XRT is also planning to relocate its activities to the United Kingdom, due to difficulties commercialising its technology from Australia. The move would "bring [XRT] in close contact with its potential customer base" and provide easier access to new capital with the Australian market being "capped out" for XRT's technology, said Dow.