Microsaic Systems plc (LON: MSYS) will hold its AGM today, at 11 a.m., at the offices of N+1 Singer Advisory LLP, One Bartholomew Lane, London, EC2N 2AX. Ahead of that meeting, the Company has provided the following update of trading from 1 January 2019 to 13 May 2019 (the “Year to Date”) as follows:
Orders received in the Year to Date have been significantly above orders received by the Company in the whole of the first half of 2018.
During the period the Company launched its breakthrough protein characterisation product, MiD® ProteinID, which can measure both small and large molecules simultaneously at the point of need. Subsequently on 5 March 2019, the Company announced its joint publication with the Massachusetts Institute of Technology showcasing ProteinID’s capabilities in measuring the effects of storage on biopharmaceutical feedstocks.
Further progress has continued to be made with new and existing partnerships. On 18 March 2019, the Company announced an agreement with Biometric Technologies, Co. Ltd, for the integration of its compact 4500 MiD® Mass Spectrometry detector with BMT’s High Performance Liquid Chromatography platform. The combined product will be sold by BMT through its distribution network in Southeast Asia, Taiwan, Korea, the Middle East and Oceania. This partnership has taken the Company’s total number of partners to nine and provided a wider geographical reach.
In China, the Company’s collaboration with Unimicro Technologies Inc has progressed further with Unimicro extending its product range to augment its capillary electrophoresis equipment, with the first in a series of micro-Liquid Chromatography products. Both products are being marketed in China with the option of being integrated with Microsaic’s small footprint MS technology. This has extended Unimicro’s reach in China with micro LC-MS systems, a technique which has been widely adopted in chemical and biological analysis which offers ease of use, a very small footprint, and large savings on solvent use to the end user.
Glenn Tracey, CEO of Microsaic Systems plc commented:
“We are very pleased with the progress we have made in the Year to Date. We continue to deliver on our critical milestones such as increasing our geographic reach and number of partnerships. Business development continues to be a key focus for the Company and I am pleased with the results illustrated by the increased number of orders, and growing pipeline of commercial opportunities.
“Projects with institutions such as MIT show further validity of our technology and I am delighted with the results of our work with them. As stated at the time of the Full Year Results, we will be making targeted investments across the Company to strengthen our offering and capabilities and I look forward to the rest of the year with optimism.”