Australian medical technology company LBT Innovations (ASX: LBT) has executed a contract for the sale of an APAS Independence instrument, with APAS PharmaQC software, to Australian-based contract development and manufacturing organisation (CDMO), NovaCina.
The company has executed a contract for the sale of an APAS Independence instrument, with APAS PharmaQC software, to Perth-based CDMO company, NovaCina. The sale of the instrument will be completed with the delivery and installation of APAS Independence scheduled for June 2024. Following the sale, Novacina will commence a validation of the instrument ahead of its routine use in the reading of culture plates collected during environmental monitoring as part of NovaCina’s aseptic manufacturing processes. The APAS® instrument was sold under a five-year agreement with a total value of over $0.7 million. inclusive of annual software and support/maintenance fees.
The sale to NovaCina follows the company’s previously announced first sale of APAS PharmaQC to Thermo Fisher Scientific, Inc in February 2024. The two sales have been delivered approximately six months ahead of initial expectations and are reflective of the wider positive commercial interest generated by the Company after initiating sales and marketing activities within the biopharmaceutical industry in the second half of calendar year 2023.
“The sale to NovaCina reflects the ongoing positive momentum and interest we have received from customers in the biopharmaceutical market. This market traction highlights the value we are providing with our APAS product generating workflow efficiencies through AI-automation and improving the quality of their processes by increasing the data integrity and traceability of critical environmental monitoring results,” Brent Barnes, CEO and Managing Director, said.
