Adelaide, Australia, 09 January 2023: Australian medical technology company LBT Innovations Limited (ASX: LBT) (LBT or the Company), a leader in medical technology automation using artificial intelligence, is pleased to announce the Company has been engaged by AstraZeneca for the full product development for its APAS® Pharma product.
Key Points:
-- AstraZeneca engages LBT following successful APAS® Pharma proof-of-concept
-- Supports LBT’s goal to automate pharmaceutical microbial quality control testing globally
-- Funded development project - ~AUD$1m to be received based on achieving technical milestones
-- >350 million microbial quality control tests performed annually: Potential $10bn market opportunity
-- Utilises existing APAS® Independence hardware, developing new APAS® Pharma software
LBT has been engaged by AstraZeneca, a global biopharmaceutical company, to undertake a full product development project for the Company’s new APAS® Pharma analysis module (artificial intelligence software) to be used on the APAS® Independence instrument. The APAS® Pharma analysis module will be developed to identify microbial growth on settle plates used in sterility monitoring during drug manufacturing.
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