5th Oct 2009 07:00
Immunodiagnostic Systems Holdings plc
OEM Agreement with Technogenetics of Milan
Immunodiagnostic Systems Holdings plc ("IDS" or "the Company"), a leading producer of diagnostic testing kits for the clinical and research markets, announces that it has signed an OEM manufacturing and supply agreement with Technogenetics s.r.l. of Milan, Italy.
Technogenetics, a subsidiary of Bouty S.p.A, is a clinical diagnostics company with particular expertise in diagnostic tests for autoimmune and infectious diseases, as well as being active in endocrinology and molecular biology.
Under an existing agreement signed in 2007 Technogenetics has been developing automated autoimmune and infectious disease tests for the IDS-iSYS with the intention of selling the IDS instruments and their own test consumables into the Italian market only.
The agreement announced today broadens the scope and nature of this collaboration to permit the sale of Technogenetics products throughout the whole of Europe and the countries of the former Soviet Union. The agreement grants Technogenetics exclusive sales and marketing rights in the fields of autoimmune and infectious disease diagnostics within the specified territories.
The extended area represents approximately 40% of the world wide testing market for autoimmune ($400million) and infectious disease ($500million). Demand for testing continues to grow and the market in these regions is expanding by 5-10% per year.
IDS will supply IDS-iSYS systems and consumables to Technogenetics on an OEM (Original Equipment Manufacturer) basis in livery appropriate for Technogenetics' sales and marketing operation and these will be sold as badged 'closed system' instruments.
Technogenetics expects to launch its first range of 20 automated autoimmune IVD products in Q1 2010, with further autoimmune and infectious disease tests to follow later in the year.
Roger Duggan, CEO of IDS, said: "We're very pleased to announce this collaboration which will enhance the sales of IDS-manufactured instruments and ancillary reagents via a non-competing partner. Technogenetics addresses different diagnostic markets to IDS and the automated autoimmune market in particular is poorly-serviced. Both parties are looking forward to buoyant Technogenetics sales in a classical 'Win-Win' situation."
Lorenzo Castellini, chairman of Bouty Group confirms that the extension of the territory provides a significant opportunity to exploit very interesting markets that are core to Technogenetics. Technogenetics is now focusing its efforts in the commercialisation of this opportunity throughout the whole of Europe.
Enquiries:
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Immunodiagnostic Systems Holdings Plc |
Tel: 0191 519 0660 |
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Roger Duggan, CEO |
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Paul Hailes, Finance Director |
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Brewin Dolphin Investment Banking |
Tel: 0845 213 4730 |
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Andrew Emmott Sean Wyndham-Quin |
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Walbrook PR Ltd |
Tel: 020 7933 8787 |
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Paul McManus |
Mob: 07980 541 893 |
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