Microsaic Systems plc AGM Statement (0149N)

TIDMMSYS

RNS Number : 0149N

Microsaic Systems plc

04 May 2018

4 May 2018

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

AGM Statement

Microsaic Systems plc (AIM: MSYS) will hold its AGM today, at 11 am, at the offices of Nplus1 Singer Advisory LLP, One Bartholomew Lane, London, EC2N 2AX, where the Company's Chairman, Peter Grant, will make the following statement:

"The Board is pleased to report encouraging progress with the Company's commercial development since the announcement of the 2017 results on 5 March 2018.

The collaboration with one of the foremost players in the global market for scientific instrumentation is progressing in line with the Board's expectations in the technical integration phase of a bioprocessing application.

As previously announced, two new OEM agreements have been signed in the Company's traditional small molecule markets.

On 28 March, the Company announced an agreement with Unimicro Technologies Inc. ("Unimicro"), for the integration of its compact 4500 MiD(R) mass spectrometry ("MS") detector with Unimicro's Capillary Electrophoresis platform. Once integrated, the combined product will be sold by Unimicro in China via its extensive distribution network.

In April, Microsaic signed an agreement with Knauer Wissenschaftliche Geräte GmbH ("Knauer"), for the integration of Microsaic's compact 4500 MiD(R)MS technology into Knauer's liquid chromatography platform, and for the combined product to be sold direct by Knauer in Germany and globally via its extensive distribution network.

Orders received in the year to date are from a wider customer base than last year and in total cover the same number of instruments as delivered for the whole of 2017. The Board remains confident in the longer-term prospects for the business."

 
 Enquiries: 
 Microsaic Systems plc 
  Glenn Tracey, CEO 
  Bevan Metcalf, FD                     [phone] 
 
   N+1 Singer (Nominated Adviser & 
   Broker) 
   Shaun Dobson 
   Liz Yong                             [phone] 
 IFC Advisory Ltd (Financial PR) 
  Graham Herring 
  Heather Armstrong                     [phone] 
 

About Microsaic Systems

Microsaic Systems plc (AIM: MSYS) is a high technology company developing chip-based, bench-top and point-of-analysis mass spectrometry ("MS") instruments that are designed to improve the efficiency of pharmaceutical R&D and manufacturing. The Company is working with established global life science companies to co-develop new solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines. MS is a powerful method of analysis to enable earlier decision making relating to product identification, purity and bioactivity, and is the analytical technique of choice for biochemists across many industry sectors.

Microsaic's core product, the 4500 MiD(R), is a robust and compact MS system, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. For more information, please go to www.microsaic.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 04, 2018 02:00 ET (06:00 GMT)