LBT Innovations' strategic milestone

LBT Innovations (ASX: LBT), an Australian medical technology company, has sold its APAS® Independence instrument to Bristol Myers Squibb in the United States. This is the first sale of the APAS® Independence to a pharmaceutical customer in the U.S., marking a significant milestone for the company. The sale was completed three months after the commencement of the evaluation by Bristol Myers Squibb.

LBT Innovations' strategic outlook

LBT Innovations has achieved a significant milestone by completing its first sale of the APAS® Independence to a U.S. pharmaceutical customer, Bristol Myers Squibb. This transaction is part of LBT's broader strategy to engage with multinational pharmaceutical manufacturers for the deployment of its APAS® instruments. Since its launch in March 2024, LBT has sold eight APAS® instruments to pharmaceutical customers, demonstrating a growing market demand. The ongoing evaluation by Bristol Myers Squibb will determine the technology's suitability for global deployment. LBT Innovations remains focused on expanding its market reach and developing additional applications to enhance the product's utility in the pharmaceutical manufacturing sector.

Executive insights on APAS® sale

This transaction represents a key milestone for our company as we continue to engage with large pharmaceutical companies globally. The successful evaluation and subsequent sale to Bristol Myers Squibb highlight the unmet need our product fulfills in the industry.