News: Universal Biosensors to receive additional payments from Siemens

Universal Biosensors (ASX:UBI) is poised to receive additional payments from Siemens (XETRA:SIE) to incorporate certain additional features that are expected to have high commercial value for its point-of-care coagulation testing system.

Both companies are now targeting the second half of 2016 for regulatory approval and commercial launch of these additional tests by Siemens.

These could deliver new revenue streams and further accelerate growth for UBI.

The Xprecia Stride Coagulation Analyzer was the first point-of-care coagulation testing system developed with Siemens, and was launched in December 2014.

UBI also continues to advance development of its own PT-INR test for decentralised settings and continues to target product launch in late 2015.

Reliability and clinical testing are underway and preparations are now being made for final design verification and regulatory trials.

The worldwide point-of-care coagulation testing market was estimated at ~$1.0 billion in 2014 and is forecast to grow by ~9% per annum to ~$1.4 billion by 2018. The coagulation testing market is dominated by PT-INR testing, which represents over 65% of this market today.