Market Herald logo

Subscribe

Be the first with the news that moves the market
  • LBT Innovations has achieved its first sale of the APAS technology to a Germany-based clinical lab
  • The instrument will support the lab with its routine clinical testing
  • The lab’s professor, Hilmar will join LBT’s CEO Brent in Melbourne today at the lunch and learn, to share his experience using the technology
  • They will then present at the 10th Annual Australia Microcrap Investment Conference on Wednesday
  • LBT is up 20 per cent on the market today and is selling shares for 15 cents per share

LBT Innovations has announced the first sale of its APAS Independence instrument in Europe.

APAS (Automated Plate Assessment System) was developed to assist microbiologists through the automation of culture plate screening and interpretation.

Every day, thousands of agar plates are assessed in laboratories and each one has to be examined by a microbiologist for the presence of clinically significant bacteria colonies.

APAS helps with that process, as it automatically screens, interprets and sorts the plates.

The first sale of APAS in the European Union was to Labor Dr Wisplinghoff, one of the largest clinical labs in Germany.

This globally-recognised facility has over 40 medical specialists covering all relevant areas of clinical pathology.

In April, Labor Dr Wisplinghoff received its first placement of APAS as a European centre of excellence for the company.

The laboratory has been a valuable partner for LBT in the development of the MRSA analysis module by capturing over 17,000 MRSA culture plate images required for the machine learning process of the analysis module.

MRSA (Methicillin-resistant Staphylococcus aureus) is a bacterium that spreads by physical contact and causes infections in different parts of the body.

Professor Hilmar Wisplinghoff is pleased to be utilising APAS at the laboratory.

“We are very pleased to incorporate the APAS Independence into our routine clinical workflow, where the instrument will be used daily to automate the reading of our MRSA cultures,” Hilmar said.

“We look forward to continuing our collaboration to expand the clinical utility of the instrument,” he added.

LBT CEO Brent Barnes says the purchase of APAS reflects the positive performance experienced in the laboratory.

“We are particularly pleased with the benefit this commercial sale to a marquee customer in the EU brings, given their reputation for early adoption of leading-edge technology in our market,” he said.

“With our CE Marking in place we believe we are well placed to target commercial sales to other laboratories in the region,” Brett added.

The transaction was made directly with LBT’s 50:50 joint venture partner, Clever Culture Systems, who will receive this revenue.

As a result, LBT will benefit through a reduced funding requirement to the joint venture.

To share his experience of the APAS technology, Hilmar is joining Brent in Melbourne today at the lunch and learn.

They will then present at the 10th Annual Australia Microcrap Investment Conference this Wednesday.

The following day, the pair will head to Adelaide to present at LBT’s office.

LBT is up 20 per cent on the market today and is selling shares for 15¢ apiece at 1:41 pm AEDT.

LBT by the numbers
More From The Market Herald

" Invex Therapeutics (ASX:IXC) receives UK approval to start phase III Presendin trial

Invex Therapeutics (ASX:IXC) has been given the tick of approval in the UK to start its…
Bluechiip (ASX:BCT) - Managing Director, Andrew McLellan

" Bluechiip (ASX:BCT) banks $1.09m R&D tax incentive refund

Bluechiip (ASX:BCT) has received $1.09 million research and development (R&D) tax incentive refund from the Australian…

" Oceania Healthcare (ASX:OCA) announces $500m sustainability-linked loan

Oceania Healthcare (ASX:OCA) has implemented its $500 million five-year sustainability-linked loan (SLL) to support its commitment…
Nyrada (ASX:NYR) - CEO, James Bonnar

" Nyrada (ASX:NYR) announces start date for cholesterol lowering program

Nyrada (ASX:NYR) announces its first-in-human study for cholesterol lowering is expected to begin during the first…