Microsaic Systems makes 'encouraging progress', investors told

Shareholders in Microsaic Systems were told of “encouraging progress” with the company’s commercial development on Friday, as they gathered for its annual general meeting.

The AIM-traded firm’s collaboration with “one of the foremost players” in the scientific instrumentation market was said to be 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,” said chairman Peter Grant.

On 28 March, the company announced an agreement with Unimicro Technologies for the integration of its compact ‘4500 MiD’ mass spectrometry detector with Unimicro's ‘Capillary Electrophoresis’ platform.

Once integrated, Microsaic said the combined product would be sold by Unimicro in China via its extensive distribution network.

In April, Microsaic signed an agreement with Knauer Wissenschaftliche Geräte, for the integration of Microsaic's compact ‘4500 MiD’ 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,” Grant explained.

“The board remains confident in the longer-term prospects for the business.”