LabTech Systems Ltd Secures Strategic Private Placement With bioMérieux

  
    
  
  
    
      Regulatory News:
    
    
      LabTech Systems Ltd (ASX:LBT), an Australian health care equipment 
      and services company, and bioMérieux (Paris:BIM), a major player in the 
      field of in vitro diagnostics, announced today that they have 
      signed an agreement for a strategic private placement of ordinary shares 
      amounting to AUD$2.15 million.
    
    
      Labtech Systems today executed a subscription agreement and proposes to 
      issue 9,772,727 ordinary shares at a price of $0.22 per share to 
      bioMérieux. The issue is expected to occur within 7 days and does not 
      require shareholder approval under Listing Rule 7.1. Shareholder 
      approval will not be sought prior to the issue.
    
    
      LabTech Systems and bioMérieux recently announced the signing of an 
      exclusive worldwide license agreement, for the commercialisation of 
      LabTech’s MicroStreak® 
      technology.
    
    
      This key strategic placement will underline the willingness of both 
      companies to strengthen their relationship.
    
    
      About LabTech Systems Ltd
    
    
      LabTech Systems (ASX Code LBT) was formed in 2004 as a medical 
      technology development company and listed on the Australian Stock 
      Exchange on 31 July 2006. The company has enjoyed rapid growth by 
      accelerating its corporate strategy and the MicroStreak® 
      product development program to fully exploit the opportunities in the 
      global marketplace.
    
    
      MicroStreak® automates routine agar plate 
      processing undertaken in microbiology laboratories for diagnosing the 
      causes of infection and contamination. Global demand for this type of 
      equipment is strong and will only continue to grow due to laboratory 
      skills shortages and the increase in workload driven by ageing 
      populations and age-related illnesses.
    
    
      LabTech Systems works with leaders in the field of technology and 
      science and recently received an AusIndustry Commercial Ready Grant of 
      $2.14 million to progress the novel technology. Other information can be 
      found at www.labtechsystems.com
    
    
      About bioMérieux
    
    
      Advancing diagnostics to improve public health
    
    
      A world leader in the field of in vitro diagnostics for over 40 years, 
      bioMérieux is present in more than 150 countries through 35 subsidiaries 
      and a large network of distributors. In 2006, revenues reached €1,037 
      billion with 83% of sales outside of France.
    
    
      bioMérieux provides diagnostic solutions (reagents, instruments, 
      software) which determine the source of disease and contamination to 
      improve patient health and ensure consumer safety. Our products are used 
      for diagnosing infectious diseases and providing high medical value 
      results for cardiovascular emergencies and cancer screening and 
      monitoring. They are also used for detecting microorganisms in 
      agri-food, pharmaceutical and cosmetic products. bioMérieux is listed on 
      Eurolist by Euronext. Other information can be found at www.biomerieux.com.