Immunodiagnostic Systems Hldgs PLC Partnership Agreement with Technogenetics (9460B)

TIDMIDH

RNS Number : 9460B

Immunodiagnostic Systems Hldgs PLC

16 January 2018

16 January 2018

Immunodiagnostic Systems Holdings plc

Partnership Agreement with Technogenetics srl

Immunodiagnostic Systems Holdings plc ("IDS"), a specialist producer of manual and automated diagnostic testing kits and instruments for the clinical market, today announces that it has reached agreement with Technogenetics srl ("TGS") to enable IDS to sell TGS's range of assay kits under the IDS brand, on a global basis.

TGS produces a broad range of CE approved CLIA automated assay kits for use in the fields of autoimmune and infectious disease diagnostics, which have been developed for the IDS iSYS analyser. This agreement follows a more restricted arrangement where IDS sold a limited number of the TGS assays in a small number of European countries. The new agreement, which runs for an initial period of ten years, gives IDS the right, subject to obtaining the necessary regulatory approvals, to sell the kits under the IDS brand on a worldwide basis.

Jaap Stuut, CEO of IDS commented:

"We are delighted to have reached this agreement, and look forward to working with the team at TGS as we commercialize the IDS iSYS Autoimmune and Infectious Disease assay portfolio. We now have access to a further 50 assays in additional territories which will complement our existing endocrinology portfolio and add to our competitive position as a result of the increased menu on the IDS iSYS.

During the next financial year we will focus on obtaining regulatory approval outside Europe for these assays and on driving further commercialisation as soon as possible."

For further information:

   Immunodiagnostic Systems Holdings plc                              Tel: [phone] 

Jaap Stuut, CEO

Paul Martin, Group Finance Director

Peel Hunt LLP Tel: [phone]

James Steel

Oliver Jackson

About Technogenetics srl :

TGS is an innovative company that has been active for over 30 years in the areas of diagnostic research and biotechnology. Since December 2015, TGS is part of the KHB Group, headquartered in Shanghai, and is engaged in complex and ambitious challenges with the aim of offering the market increasingly efficient and advanced diagnostic solutions. KHB is listed on the Shenzhen Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 16, 2018 02:00 ET (07:00 GMT)