TIDMIDH
RNS Number : 1950A
Immunodiagnostic Systems Hldgs PLC
05 October 2009
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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 | Tel: 0191 519 0660 |
| Plc | |
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| Roger Duggan, CEO | |
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| Paul Hailes, Finance Director | |
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| | |
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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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| | |
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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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| | paul.mcmanus@walbrookpr.com |
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This information is provided by RNS
The company news service from the London Stock Exchange
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