Tecan Announces Another Major OEM Agreement With A Leading Diagnostics Company For Development And Supply Of A Dedicated Diagnostics Instrument
Published: May 31, 2011
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 . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
* 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."
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.
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Source: Tecan Group AG via Thomson Reuters ONE
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