25 January 2024
Microsaic Systems
plc
("Microsaic" or the "Company")
Completion of
Acquisition
Capitalised terms in this
announcement carry the same meaning as in the Circular
or subsequent announcements, unless the context indicates
otherwise
Microsaic Systems plc (AIM: MSYS), the
developer of micro-electronic instruments and analytical solutions,
announces that, further to the announcement made by the Company on
12 January 2024 (RNS No. 5915Z)1, it has completed the
acquisition of the Modern Water assets and the Microtox® water
testing business previously owned by DeepVerge plc.
Bob Moore, Acting Executive Chairman,
commented:
"This concludes our recent corporate activity
to recapitalise Microsaic on an enlarged basis by integrating the
Modern Water Microtox® water testing business. We are now in the
process of installing the acquired equipment in newly leased and
lower cost laboratory space in York, England. We intend to restart
sales and manufacture of water testing reagents as soon as
reasonably practicable, to meet continuing demand from the
installed base of Microtox® users.
Additionally, we remain focused on supplying
and servicing to customers operating Microsaic's mass spectrometry
units, through our existing outsourced manufacturing partner and a
newly appointed outsourced servicing partner. We are committed to
supporting existing clients and prospective distribution partners
in assessing the ProteinID and PFAS2 units ahead of
planned field trials expected in H1 2024, designed to assess their
performance in monitoring biomanufacturing of drugs and the
detection of 'forever chemicals'."
1
https://www.londonstockexchange.com/news-article/MSYS/acquisition-update-change-of-registered-office/16287737
2
PFAS are Perfluoroalkl and Polyfluoroalkyl
synthetic chemicals which have potentially carcinogenic properties
and don't naturally break down hence called 'forever
chemicals'.
Enquiries:
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Microsaic
Systems plc
Bob Moore, Acting Executive Chairman
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+44 (0) 20 3657 0050
via TPI
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Singer Capital
Markets
(Nominated Adviser & Joint Broker)
Aubrey Powell / Angus Campbell / Oliver
Platts
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+44 (0)20 7496 3000
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Turner Pope
Investments (TPI) Limited
(Joint Broker)
Andy Thacker / James Pope
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+44 (0) 20 3657 0050
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About Microsaic Systems
Microsaic has over 20 years'
experience in microelectronics and development of instrumentation.
The Company has a robust and innovative patent portfolio in
cutting-edge technology designed and developed for "Industry 4.0"
application serving markets in diversified Industries, Human and
Environmental Health. Microsaic's system solutions have enabled
analytical detection and characterisation at the point-of-need,
whether within a conventional laboratory setting, or within a
bioprocessing facility for continuous detection of data at multiple
steps in the process workflow.
Microsaic's products and solutions
are commercially available through global markets via a network of
regional and local partners, targeting its core laboratory,
manufacturing and point-of-need applications.