May 31, 2011 | by Tecan Group
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May 31, 2011, The Tecan Group (SIX Swiss Exchange: TECN) today signed a major OEM agreement with a global leader in a fast growing field of diagnostics for the development and supply of a dedicated diagnostics instrument. Under the agreement, Tecan will develop and supply an instrument to be used in conjunction with diagnostic tests developed by the partner. The diagnostics company is a new OEM customer for Tecan.
Development of the dedicated instrument had started with a joint concept development. Feasibility testing was successfully completed and the program currently is in an advanced development stage. The development is fully funded by the diagnostics company.
In addition to the development agreement both companies signed a supply agreement with minimum purchase volumes scheduled over several years. Upon successful completion of development, based on Tecan’s expectations the sales potential is estimated to be more than CHF 100 million over the first five years after launch. Tecan expects to ship the first serial units of the instrument for the start of the commercial launch to the diagnostics company within the next 24 months.
Thomas Bachmann, CEO of Tecan, said: “We are delighted to have signed a second major OEM agreement within the last six months for the development and supply of a dedicated diagnostics instrument. Our strong track record in the industrialization of R&D projects, specific know-how in automating many of the steps required, existing hardware and software elements and the dedication of the Tecan team significantly accelerate the whole process from development to launch. For Tecan the agreement with this new OEM partner has the potential to become one of the most significant OEM agreements signed so far.”
Contact
Tecan Group Martin Brändle Head of Corporate Communications & Investor Relations Tel. +41 (0) 44 922 84 30 Fax +41 (0) 44 922 88 89 investor@tecan.com www.tecan.com
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Source: Tecan Group, Press release