UBI partners with Siemens for long term manufacturing agreement

Universal Biosensors (UBI), a specialist medical diagnostics company, has signed a long term supply and manufacturing agreement with Siemens Healthcare Diagnostics.

This collaboration will see UBI become the exclusive manufacturer of three test strips currently in development.

The strips will be manufactured at the company’s existing plant in Rowville, Victoria.

UBI is developing a range of products for the POC coagulation testing market with Siemens.

The first product in this range, a PT-INR testing system which monitors the application of the anti-coagulant therapy Warfarin, is expected to be available in 2013.

UBI CEO Paul Wright said “the signing of this supply agreement is a major step forward in our relationship with Siemens and towards our shared vision for bringing a range of novel handheld analysers to the POC coagulation testing market.”

According to Wright Universal Biosensors will leverage its existing infrastructure to offer world-class manufacturing support to Siemens and create a new and important long term earnings stream for our business.

The systems being developed by UBI and Siemens will deliver laboratory-quality results at the point-of-care in response to growing demand for near-patient testing solutions, including those that deliver time-critical coagulation data.

The product will be registered, marketed and sold globally by Siemens.

UBI will share in incremental profits generated by Siemens on sales of these products that exceed their current forecasts by a specified amount.

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