MäNNEDORF, SWITZERLAND--(Marketwire - November 29, 2010) -
Tecan Group AG /
Tecan announces major OEM agreement with global diagnostics company for
development and supply of a dedicated diagnostics instrument
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* Agreement building upon established OEM partnership between both
companies
* Concept development and feasibility testing already successfully
completed
* Tecan signed a ten-year supply agreement with a purchase commitment by
the
diagnostic company
* Upon successful completion of development, based on Tecan's
expectations
sales potential is estimated to be more than CHF 80 millions over the
first
five years
Männedorf, Switzerland, November 29, 2010 - The Tecan Group (SWISS: TECN) today announced a major OEM agreement with a global diagnostics
company
for the development and supply of a dedicated diagnostics instrument. Under
the
global agreement, Tecan will develop and supply a fully automated
instrument and
a corresponding plastic consumable. The agreement is building on an
established
partnership between both companies.
The development agreement follows a concept development and feasibility
testing
phase that was already successfully completed. During the development phase
Tecan will pre-finance and capitalize the development costs of the next
generation instrument. The first half of the development costs will be
repaid by
the diagnostic company upon launch of the instrument and the remaining half
one
year after launch. In addition to the development agreement both companies
signed a ten-year supply agreement with a purchase commitment by the
diagnostic
company. Upon successful completion of development, based on Tecan's
expectations the sales potential is estimated to be more than CHF 80
millions
over the first five years. Tecan expects to ship first instruments for the
commercial launch to the diagnostics company in late 2012.
Thomas Bachmann, CEO of Tecan, said: "We are proud to have signed this
major OEM
agreement with one of our existing OEM partners to develop the next
generation
dedicated instrument. For Tecan this OEM agreement significantly broadens
our
market opportunity as the instrument will be marketed globally and will
penetrate new markets."
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
instruments and 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, 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 2009, Tecan
generated sales of CHF 392 million (USD 361.2 million; EUR 259.6 million).
Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TK:
TECN/Reuters: TECZn.S/ ISIN CH0012100191).
[HUG#1466739]
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Tecan Group AG
Seestrasse 103 Männedorf Switzerland
ISIN: CH0012100191;
Press Release (PDF):
http://hugin.info/100384/R/1466739/404475.pdf
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Source: Tecan Group AG via Thomson Reuters ONE
