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DeepVerge signs full agreement with Microsaic Systems
24th Mar 2021 15:25
(Sharecast News) - Environmental and life sciences artificial intelligence (AI) company DeepVerge has signed a full technical and commercial agreement with Microsaic Systems, it announced on Wednesday.
The AIM-traded firm said that under the agreement with its Innovenn subsidiary, Microsaic would supply regulatory-approved, CE-marked, miniaturised mass spectrometry equipment and services on a non-exclusive basis across DeepVerge's global sales, marketing and distribution channels.
DeepVerge said it would introduce AI data analytics into Microsaic's existing mass spectrometry data capture capabilities, to fast track the 'MicrotoxBT' breathalyser, which is used to detect the spike protein of the SARS-CoV-2 virus, to deliver a 'point of care' diagnostic solution at general practitioner surgeries.
With biomarker binding agents capable of detecting up to 40 diseases on the human breath, many of which included cancer, neurodegenerative, respiratory and metabolic conditions, the company said it had the potential to enable swift referral for serious conditions, while reducing unnecessary doctor-to-hospital referrals and the over-prescription of antibiotics, potentially lowering healthcare costs.
In addition, automated monitoring of remote 'lab-to-sample' environmental health data would create a "virtual laboratory" at the site of detection in diversified chemical, biochemical, biofuel, biodegradable plastic, biologics, and waste-water treatment industries, the board explained.
"The collaboration, cooperation and teamwork across both companies over the last two months has been incredible," said chief executive officer Gerard Brandon.
"It has already contributed to cost reductions for both companies through complementary new hires, removing duplication, and brings an increase in revenue per client opportunity from new services from equipment that Microsaic already has approved for use.
"The combined result enables Labskin scientists to fully automate the production of bacteria reagents and the Modern Water division can immediately add remote higher quality analysis for clients, eliminating the need for transportation of samples back to laboratories."
At 1459 GMT, shares in DeepVerge were down 3.88% at 31p, while Microsaic stock was 4.36% weaker at 0.22p.
The AIM-traded firm said that under the agreement with its Innovenn subsidiary, Microsaic would supply regulatory-approved, CE-marked, miniaturised mass spectrometry equipment and services on a non-exclusive basis across DeepVerge's global sales, marketing and distribution channels.
DeepVerge said it would introduce AI data analytics into Microsaic's existing mass spectrometry data capture capabilities, to fast track the 'MicrotoxBT' breathalyser, which is used to detect the spike protein of the SARS-CoV-2 virus, to deliver a 'point of care' diagnostic solution at general practitioner surgeries.
With biomarker binding agents capable of detecting up to 40 diseases on the human breath, many of which included cancer, neurodegenerative, respiratory and metabolic conditions, the company said it had the potential to enable swift referral for serious conditions, while reducing unnecessary doctor-to-hospital referrals and the over-prescription of antibiotics, potentially lowering healthcare costs.
In addition, automated monitoring of remote 'lab-to-sample' environmental health data would create a "virtual laboratory" at the site of detection in diversified chemical, biochemical, biofuel, biodegradable plastic, biologics, and waste-water treatment industries, the board explained.
"The collaboration, cooperation and teamwork across both companies over the last two months has been incredible," said chief executive officer Gerard Brandon.
"It has already contributed to cost reductions for both companies through complementary new hires, removing duplication, and brings an increase in revenue per client opportunity from new services from equipment that Microsaic already has approved for use.
"The combined result enables Labskin scientists to fully automate the production of bacteria reagents and the Modern Water division can immediately add remote higher quality analysis for clients, eliminating the need for transportation of samples back to laboratories."
At 1459 GMT, shares in DeepVerge were down 3.88% at 31p, while Microsaic stock was 4.36% weaker at 0.22p.