Universal Biosensors Inc. (ASX:UBI) will gain $US1.5 million after securing its second development milestone with Siemens Healthcare Diagnostics.
The collaboration will help Siemens commercialise a range of novel handheld analysers for the point of care coagulation market.
CEO Paul Wright says the company is pleased to work with Siemens to develop new solutions for the market which he describes as a significant and growing opportunity.
The global market for anti coagulation treatments was estimated at $6.2 billion in 2008 and is projected to reach $9.1 billion by 2014.
Universal Biosensors posted a net loss of $14.7 million in the 2011 financial year.
