LBT Innovations and Hettich joint veture to develop and commercialize Automated Plate Assessment System (APAS)
Singapore: Medical technology company LBT Innovations signed an agreement with Switzerland-based laboratory instrumentation company, Hettich, to finalize a partnership for the development and commercialization of LBT's Automated Plate Assessment System (APAS). It is proposed that Hettich will provide the required funds and LBT will provide the APAS intellectual property in a joint venture to bring APAS products to market.
APAS is novel technology that allows for full automation of the routine imaging, interpretation and reporting of bacteria grown on culture-plates in microbiology laboratories, which LBT has been developing with researchers from the University of Adelaide since 2010. APAS is a natural successor to LBT's MicroStreak plate streaking technology, which has experienced growing global sales since it was launched by the French company, bioMérieux, as in 2009.
Mr Bob Finder, chairman, LBT Innovations, said that, "The board of LBT Innovations is extremely pleased with this key agreement developed by CEO and managing director, Ms Lusia Guthrie and her management team. We have been looking for a suitable partner to finalise the commercial development of this exciting technology and pave the way for its global launch. We are impressed by the global manufacturing and marketing experience of Hettich AG Switzerland."
Mr Klaus- Günter Eberle, owner, Hettich, who visited Adelaide to see the APAS technology in February 2013, said that, "LBT would be an ideal partner for our growing portfolio of integrated laboratory solutions. APAS is a natural fit for our expanding automation aspirations, and a relationship with LBT would support our ambitions to expand our global microbiology business."
Ms Lusia Guthrie, CEO and managing director, LBT, said that, "This partnership would validate LBT's approach to innovation and product development. A relationship with Hettich AG Switzerland would provide strong engineering, manufacturing and distribution links close to our target markets, as well as giving LBT greater participation in the path to market for our technology."
