The development of the dedicated instrument, fully funded by the diagnostics company, had started with a joint concept development after the feasibility testing was successfully completed.
In addition to the development agreement both companies signed a supply agreement with minimum purchase volumes which was scheduled over several years.
Tecan expects that upon successful completion of development the sales potential is estimated to be more than 100m over the first five years after launch.
It also expects to ship the first serial units of the instrument for the start of the commercial launch to the diagnostics company within the next 24 months.
Tecan CEO Thomas Bachmann said their track record in the industrialization of R&D projects, specific know-how in automating many of the steps required, existing hardware and software elements and the dedication of the Tecan team has accelerated the whole process from development to launch.
