Universal Biosensors (ASX:UBI) should trade higher after...

Universal Biosensors (ASX:UBI) should trade higher after receiving its first commercial order from Siemens Healthcare Diagnostics, Inc. for the production and supply of its PT-INR test strips.

This represents an important event in the development of the first point-of-care coagulation testing product under Universal Biosensors’ collaboration with Siemens.

The worldwide point-of-care coagulation testing market is estimated to be worth over US$1 billion annually of which PT-INR testing is estimated to represent over 65%.

The Siemens PT-INR testing system, used to monitor the application of the anti-coagulant therapy Warfarin, is currently targeted to launch before the end of the third quarter 2014.

UBI is working with Siemens to finalise the product for launch, however, the responsibility for obtaining regulatory approvals and the final decision to launch the product rests with Siemens.

UBI will manufacture the PT-INR strips at the Company’s existing plant in Rowville, Victoria.

The PT-INR test is the first of three in development with Siemens which will deliver laboratory-quality results at the point-of-care in response to growing demand for near-patient testing solutions, including those that deliver time-critical coagulation data.

The company will leverage its existing infrastructure to provide manufacturing support to Siemens with a view to generating a diversified earnings stream.