Singapore, Jun 30, 3009: Calfornian company, Micro Imaging Technology (MIT) has entered into a strategic business development relationship with OPH Hong Kong who will be instrumental in securing a manufacturing partner for the MIT in Asia. MIT has developed and patented a rapid microbial ID System that has the capacity to revolutionize the pathogenic ID process and annually save thousands of lives and tens of millions of dollars.
In addition, OPH will develop this market for the MIT 1000 Rapid Microbial Identification System through its distribution channels by working closely with existing MIT distributors and jointly with MIT to identify and select other strategic partners to expand in Asia.
"The MIT 1000 technology is truly a revolutionary development in rapid detection of microbial pathogens," said Mr David Harris, Chairman, OPH. "We are very pleased and excited to partner with MIT in delivering these exceptional technological benefits to Asian producers and consumers. The speed, accuracy and cost-savings provided by the MIT 1000 System will improve the operational efficiencies and bottom line for pharmaceutical manufacturers and, most importantly, will contribute to the advancement of the overall safety of their global supply chains."
MIT recently received Performance Test Method (PTM) Certification for the Identification of Listeria from the AOAC Research Institute (RI) and is now focused on accelerating the commercialization of the MIT 1000. "OPH has helped numerous companies quickly and successfully expand their businesses to Asia. Given our objectives of establishing a global presence and lowering product cost, we see the partnership with OPH as a significant first step in our international growth goals," said Mr Michael Brennan, MIT's Chairman and CEO.
According to Strategic Consulting, recent market research information showed that over $4.5 billion was spent in 2008 for rapid identification in the industrial microbiology market and is expected to reach $6.2 billion by 2013.
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