Microsaic Systems Shares Rise As It Inks UK Commercial Contract

21st Mar 2018 10:28

LONDON (Alliance News) - Microsaic Systems PLC shares rose on Wednesday morning as the firm said it has signed a commercial contract with a UK-based technology and innovation centre.

The stock was trading up 18% at 2.4749 pence per share on Wednesday.

Microsaic, which makes point of need mass spectrometry instruments, has signed the deal with the Centre for Process Innovation.

The project will focus on the potential of Microsaic's mass spectrometry offering as an online tool for the elucidation of biopharmaceutical or biologic structure during the manufacturing or bioprocessing workflow, the company said.

The Centre for Process Innovation is the UK's national technology and innovation centre for the process manufacturing industries, and is located in Darlington.

Microsaic Chief Executive Glenn Tracey said: "The UK is well positioned as one of the leading countries for process innovation, especially for high value biologics.

"It is fitting, therefore, that two high-technology businesses such as Microsaic and CPI, both based in the UK, should embark on such exciting knowledge-based work, paving the way for enabling technologies to meet the future quality and compliance needs in biopharma."

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