- LBT Innovations (LBT) pens a deal with AstraZeneca to undertake full product development of its APAS Pharma artificial intelligence software
- The APAS Pharma analysis module will be developed to identify microbial growth on settle plates used in sterility monitoring during drug manufacturing
- Under the project, AstraZeneca will fund the development of the APAS Pharma analysis module and validate the final product for their processes
- The project is expected to cost approximately $1 million, with payment received based on achieving a series of technical milestones
- Shares in LBT Innovations are up 18.5 per cent, trading at 6.4 cents as of 10:57 am AEDT
LBT Innovations (LBT) has been engaged by AstraZeneca to undertake a full product development project for its APAS Pharma product.
The project will use the company’s new APAS Pharma analysis module on the APAS independence instrument.
Under the project, AstraZeneca will fund the development of the APAS Pharma analysis module and validate the final product for their processes.
The project is expected to cost approximately $1 million, with payment received based on achieving a series of technical milestones.
LBT CEO and Managing Director Brent Barnes said this partnership is exciting for the company.
“AstraZeneca leads this field and is looking to innovate its processes and set the standard for others to follow,” he said.
“Our APAS technology is ideally suited for the application of microbial quality control,
able to improve consistency of results and drive standardisation across manufacturing sites.”
It is expected that an APAS independence instrument will be deployed to AstraZeneca to support data collection and testing as part of the development for the new APAS Pharma analysis module.
The analysis module will be developed to identify microbial growth on settle plates
used in sterility monitoring during drug manufacturing to create the final product.
Shares in LBT Innovations were up 18.5 per cent, trading at 6.4 cents as of 10:57 am AEDT.