Adelaide, Australia, 23 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 release its Appendix 4C – Quarterly Cashflow report and business update for the quarter ended 31 December 2022 (the Quarter). All financial results are in Australian dollars and are unaudited.
Key Highlights
-- Over $3.0 million non-dilutive funding secured for strategic product development
-- NEW $10bn pharmaceutical microbial quality control testing market for APAS® Pharma
---- APAS® Pharma product development initiated with AstraZeneca and Thermo Fisher
---- LBT retains IP and commercialisation rights
-- EU go-to-market sales outlook improved
---- Thermo Fisher become exclusive EU distributor for APAS® Independence
---- Expanded total addressable market to 34 countries across Europe
-- $0.5 million raised from eligible shareholders through LBT Entitlement Offer
-- 31 December 2022 cash balance of $2.5 million plus $1.0 million in near term receivables
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