A bit on LBT for those who havent read up on it...
- Automation of culture-plate inoculation and streaking - partnership with bioMérieux
- Digital imaging in microbiology - partnership with Hettich AG.
Landmark joint venture agreement in June with Hettich to develop and commercialise LBT's image interpretation technology, APAS.
Under the JV, the Swiss company has committed $7.5 million, including a $2 million signing fee paid upfront to LBT, plus working capital of $1.4 million for the joint venture, and $4 million for ongoing technology development here in Australia.
Revenue for 2012-13 rose by 333% to $4.42 million, driven by the $2 million upfront signing fee from Hettich.
Continuation of LBT's market-leading position of MicroStreak culture-plate streaking system, PREVI Isola.
Minimum $600k annual royalties from bioMérieux for PREVI.
