MANNEDORF, SWITZERLAND--(Marketwire - May 30, 2011) - Tecan Group AG /
Tecan announces another major OEM agreement with a leading diagnostics
company
for development and supply of a dedicated diagnostics instrument
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* Program already in advanced development phase
* Shipment of serial units for the start of the commercial launch
expected
within the next 24 months
* Sales potential is estimated to be more than CHF 100 million over the
first
five years after launch
Männedorf, Switzerland, May 30, 2011 - The Tecan Group (SIX: TECN) today
signed a major OEM agreement with a global leader in a fast growing
field of diagnostics for the development and supply of a dedicated
diagnostics
instrument. Under the agreement, Tecan will develop and supply an
instrument to
be used in conjunction with diagnostic tests developed by the partner. The
diagnostics company is a new OEM customer for Tecan.
Development of the dedicated instrument had started with a joint concept
development. Feasibility testing was successfully completed and the program
currently is in an advanced development stage. The development is fully
funded
by the diagnostics company.
In addition to the development agreement both companies signed a supply
agreement with minimum purchase volumes scheduled over several years. Upon
successful completion of development, based on Tecan's expectations the
sales
potential is estimated to be more than CHF 100 million over the first five
years
after launch. Tecan expects to ship the first serial units of the
instrument for
the start of the commercial launch to the diagnostics company within the
next
24 months.
Thomas Bachmann, CEO of Tecan, said: "We are delighted to have signed a
second
major OEM agreement within the last six months for the development and
supply of
a dedicated diagnostics instrument. Our strong track record in the
industrialization of R&D projects, specific know-how in automating many of
the
steps required, existing hardware and software elements and the dedication
of
the Tecan team significantly accelerate the whole process from development
to
launch. For Tecan the agreement with this new OEM partner has the potential
to
become one of the most significant OEM agreements signed so far."
About Tecan
Tecan (www.tecan.com) is a leading global provider of laboratory
instruments and
solutions in biopharmaceuticals, forensics and clinical diagnostics. The
company
specializes in the development, production and distribution of automated
workflow solutions for laboratories in the life sciences sector. Its
clients
include pharmaceutical and biotechnology companies, university research
departments, forensic and diagnostic laboratories. As an original equipment
manufacturer (OEM), Tecan is also a leader in developing and manufacturing
OEM
instruments and components that are then distributed by partner companies.
Founded in Switzerland in 1980, the company has manufacturing, research and
development sites in both Europe and North America and maintains a sales
and
service network in 52 countries. In 2010, Tecan generated sales of CHF 371
million (USD 356 million; EUR 269 million). Registered shares of Tecan
Group are
traded on the SIX Swiss Exchange (TK: TECN/Reuters: TECZn.S/ ISIN:
12100191.
ISIN: CH0012100191;
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Source: Tecan Group AG via Thomson Reuters ONE
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