Corporate Banner
Satellite Banner
Automation & Microfluidics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Microsaic Systems - First-to-market Developer of Miniaturized Chip-based Scientific Instruments

Published: Wednesday, April 06, 2011
Last Updated: Wednesday, April 06, 2011
Bookmark and Share
Microsaic Systems plc, has announced that it has raised gross proceeds of £4 million by way of an institutional placing in connection with the forthcoming admission of its shares to trading on the AIM market of the London Stock Exchange.

The Business

Microsaic is the first and only company to have successfully miniaturized mass spectrometry (“MS”) through the development of its patented chip-based technologies (ionchip®, spraychip® and vac-chip®). The Company’s first product, the Microsaic 3500 MiD®, was launched in January 2011. It is a desktop MS system that is smaller, lighter, more energy efficient and cheaper to run than legacy conventional MS systems.

• Mass spectrometry is widely accepted as a ‘gold-standard’ method for identifying chemicals. As a result, this technique is used routinely by chemists across a range of sectors including government, energy, utilities, pharmaceuticals, environmental, food and drink, healthcare and industrial chemicals.

• The total MS market was worth c. US$3.3 billion p.a. (August 2010) and is forecast to grow 8.5% between 2010 and 2011 (Mass spectrometry market data, SDI, March 2011). More than two-thirds of this highly diversified market is directly or indirectly tied to government, healthcare and regulation-driven demand, such as drug development, diagnostics, food and environmental safety testing.

• Working with blue-chip partners in the analytical instruments sector, Microsaic aims to introduce compact, deployable MS products, based on its core technology, into a series of target markets and applications to replace existing MS systems and expand the global MS installed user base by meeting the significant unmet demand from within other markets. The Company aims to generate recurring revenues through chip consumables.

• In addition, the Company continues to innovate and develop next generation products designed to reach wider markets and target additional applications, providing even greater sensitivity for detecting very low concentrations of chemicals (e.g. contaminants, harmful substances or clinical biomarkers) in complex samples (e.g. urine, blood plasma and food).

• Microsaic Systems was established in 2001 as a spin out from Imperial College London.

• Microsaic’s technologies are protected by 88 patent applications worldwide of which 36 are granted.

Details of Placing

The Company has raised £4 million through a placing of 12,500,000 new shares to institutional investors at 32p per share. On Admission, which is expected on 11 April 2011, Microsaic will have a market capitalization of approximately £12 million.

The Microsaic ticker will be MSYS, and its ISIN number will be GB00B547ZY09. It is expected that dealings in the Company’s ordinary shares will commence on 11 April 2011.

The net proceeds of the Placing will be used by the Company to fund capital expenditure, manufacturing, sales and field support and new product development, as well as ongoing working capital requirements.

Commenting on the success of the IPO, Alan Finlay, chief executive of Microsaic Systems plc, said: “We are delighted with the outcome of our roadshow with institutional shareholders. The level of interest and enthusiasm endorses our investment proposition and supports our strategic objective of becoming a key player in the multi-billion dollar scientific instrumentation market.”


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,900+ scientific posters on ePosters
  • More than 5,300+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Microsaic Systems Wins R&D 100 Award for the World’s Most Compact Mass Spectrometer
Microsaic’s 3500 MiD mass spectrometer has been chosen winner by an independent judging panel and the editors of R&D Magazine.
Friday, June 22, 2012
Microsaic Systems Appoint Sales and Marketing Manager
Microsaic Systems plc announces that Samantha Dunnage has joined to lead the Company’s marketing and direct sales.
Monday, August 08, 2011
Scientific News
'Lab on the Skin' for Sweat Analysis
Northwestern University researchers develop a low-cost wearable electronic device that collects and analyzes sweat for health monitoring.
Peer Review is in Crisis, But Should be Fixed, Not Abolished
After the time to get the science done, peer review has become the slowest step in the process of sharing studies, and some scientists have had enough.
Making Every Cell Matter
New method for encapsulating single cells within microgels could boost efficacy of cell-based therapies and tissue engineering.
Modelling Cigarette Effects with Airway-on-a-Chip
An instrument that smokes cigarettes like a human, and delivers whole smoke to the air space of microfluidic human airway chips, enables new insights into how non-smokers and COPD patients respond to smoke.
Robotic Cleaning Technique Could Automate Neuroscience Research
New robotic cleaning technique allows pipettes used in patch-clamping to be re-used up to 11 or more times.
Lab-on-a-Chip to Help Detect Cancer
In this podcast, we speak to Gustavo Stolovitsky to learn about his career and the work he is doing at IBM Research.
First Entirely 3D-printed Organ-on-a-Chip with Integrated Sensors
New approach to manufacturing may allow researchers to rapidly design organs-on-chips that match the properties of a specific disease or individual patient's cells.
3D-Printing in Science: Conference Co-Staged with LABVOLUTION
LABVOLUTION 2017 will have an added highlight of a simultaneous conference, "3D-Printing in Science".
Size Matters for Particles in Bloodstream
Research uncovers more information about how particles behave in the human bloodstream.
Lab-on-a-Chip Detects Effects of Poison
A fast and efficient mixer has been developed for testing the effect of toxic substances faster by using a new lab-on-a-chip.
Scroll Up
Scroll Down
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,300+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!