Universal Biosensors Receives First Commercial Order From Siemens For Supply Of PT-INR Test Strips
Universal Biosensors, Inc. (ASX: UBI) has received its first commercial order from Siemens Healthcare Diagnostics, Inc. (“Siemens”) for the production and supply of PT-INR test strips. This represents an important event in the development of the first point-of-care coagulation testing product under Universal Biosensors’ collaboration with Siemens. The worldwide point-of-care coagulation testing market is estimated to be worth over US$1 billion annually of which PT-INR testing is estimated to represent over 65%.
The Siemens PT-INR testing system, used to monitor the application of the anti-coagulant therapy Warfarin, is currently targeted to launch before the end of Q3 2014. Universal Biosensors is working closely with Siemens to finalise the product for launch, however, the responsibility for obtaining regulatory approvals and the final decision to launch the product rests with Siemens.
Universal Biosensors will manufacture the PT-INR strips at the Company’s existing plant in Rowville, Victoria. The PT-INR test is the first of three in development with Siemens which will deliver laboratory-quality results at the point-of-care in response to growing demand for near-patient testing solutions, including those that deliver time-critical coagulation data.
Universal Biosensors CEO Paul Wright said, “The receipt of this first commercial order is a major step forward in our program with Siemens towards our shared vision for bringing a range of new products to the point-of-care coagulation testing market. Universal Biosensors will leverage its existing infrastructure to provide world-class manufacturing support to Siemens with a view to generating a new and diversified earnings stream for our business.”
Ends
Enquiries:
Mr Paul Wright: 03 9213 9000
Information concerning agreements with Siemens
A summary of the key commercial terms of the Company’s contractual relationship with Siemens along with redacted versions of the agreements are available via
• ASX: http://www.universalbiosensors.com/Investor-Centre/ASX-Announcements.aspx and
• SEC: http://www.universalbiosensors.com/Investor-Centre/SEC-Filings.aspx.
With respect to the Collaboration Agreement, please refer in particular to the Form 8Ks filed on 9 September 2011 and 24 September 2012 and the Form 10-Q filed on 3 November 2011 and subsequent investor presentations. With respect to the Supply Agreement, please refer in particular to the Form 8-K filed on 24 September 2012 and the Form 10-Q filed on 29 October 2012 and subsequent investor presentations.
About Universal Biosensors
For additional information in relation to Universal Biosensors, refer to http://www.universalbiosensors.com.
Universal Biosensors is a specialist medical diagnostics company, founded in 2001, that is focused on the development, manufacture and commercialisation of a range of in vitro diagnostic tests for point-of-care use. These tests capitalise on a technology platform which uses a novel electrochemical cell that can be adapted for multiple analytes and provide for enhanced measurements in whole blood.
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