not many people on HC emailed Lusia like I did. in the email below, there is no claim of "ground breaking" etc etc ... the word "remiss" concerns me a lot.
From Lusia
PREVI Isola As we have stated to the market, there are minimum royalty provisions within the licence deal with bioMerieux and LBT currently receives US$600,000 per annum as the minimum. The royalty position is renegotiated every 3 years, with the current minimum being the base line. We are at present negotiating with bioMerieux on the next 3 year royalty deal for the period commencing January 2015. Under the licence deal, bioMerieux have full rights to PREVI Isola and LBT is not actively involved in the ongoing development or commercialisation of the product/technology. In effect, we simply collect the royalty stream. If you review the bioMerieux website you will see how PREVI Isola is an integral part in bioMerieux’s FMLA strategy. The good news is we are seeing good growth in usage of PREVI Isola over recent quarters. LBT will announce the new royalty deal with bioMerieux as soon as it has been completed. APAS LBT is progressing with the FDA approval for APAS and, as announced this week, the 2 Australian trials linked to that submission have been successfully completed. We have had detailed discussions with several of the key market leaders. At this stage we must remain open to all options on APAS and hence whether we have a single or multiple partner is hard to state. On bioMerieux FMLA, this system also currently functions like BD’s Kiestra, in capturing images of the culture plates and sending the images to a microbiologist for reading and interpretation. APAS takes an image and automatically reads and interprets the growth on the plate and assigns the designation to send the plate to the next step in processing – that is, APAS does what a human microbiologist does at the plate screening step after incubation and before ID/AST testing. From our research, APAS is likely to be first-in-class once we have FDA approval, but we would be remiss to assume no one else is pursuing this capability, which is a logical development in clinical microbiology.
LBT Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
