Microsaic Systems plc AGM Statement (8714Y)
May 14 2019 - 1:00AM
UK Regulatory
TIDMMSYS
RNS Number : 8714Y
Microsaic Systems plc
14 May 2019
14 May 2019
Microsaic Systems plc
("Microsaic", "Microsaic Systems" or the "Company")
AGM Statement
Microsaic Systems plc (AIM: 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 provides
an 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(R) 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 ("MIT")
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 ("BMT"), for the integration
of its compact 4500 MiD(R) Mass Spectrometry ("MS") detector with
BMT's High Performance Liquid Chromatography ("HPLC") 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 ("Unimicro") 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 ("LC")
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."
Enquiries:
Microsaic Systems plc
Glenn Tracey, CEO
Bevan Metcalf, FD +44 (0) 1483 751 577
N+1 Singer (Nominated Adviser &
Broker)
Shaun Dobson (Corporate Finance)
Tom Salvesen (Corporate Broking) +44 (0)20 7496 3000
IFC Advisory Ltd (Financial PR)
Graham Herring
Heather Armstrong
Florence Chandler +44 (0)20 3934 6630
About Microsaic Systems
Microsaic Systems plc (AIM: MSYS) is a high technology company
developing chip-based, bench-top and point-of-analysis mass
spectrometry ("MS") instruments that are designed to improve the
efficiency of pharmaceutical R&D and manufacturing. The Company
is working with established global life science companies to
co-develop new solutions to improve productivity in the development
of small molecule and novel biologic (peptides, antibodies)
medicines. MS is a powerful method of analysis to enable earlier
decision making relating to product identification, purity and
bioactivity, and is the analytical technique of choice for
biochemists across many industry sectors.
Microsaic's core product, the 4500 MiD(R), is a robust and
compact MS system, retaining the functionality of larger
conventional MS systems, is easier to use by non-specialists,
consumes less energy and has lower running costs. For more
information, please go to www.microsaic.com.
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END
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