LBT Innovations signs A$4.1M contract with AstraZeneca

Australian medical technology company LBT Innovations Limited (ASX: $LBT) has signed a significant agreement with AstraZeneca AB (AstraZeneca) to sell five APAS® Independence instruments and provide annual maintenance and support services over seven years. The total contract value ranges between USD 2.2 million to 2.7 million, equivalent to AU$3.4 million to AU$4.1 million, depending on the level of maintenance and support services selected by AstraZeneca. The majority of the contract value is expected to be received as the instruments are installed, scheduled over the next six months.

Executive Commentary on AstraZeneca Agreement

The purchasing agreement demonstrates the value the APAS® technology provides and unlocks an initial roll-out of five instruments across a number of AstraZeneca's large manufacturing operations. This decision was made based on demonstrated performance of the technology within the AstraZeneca manufacturing processes and provides credibility for the technology more broadly. This milestone provides evidence and confidence that the APAS Independence is a fully validated technology that meets the stringent requirements for environmental monitoring during drug manufacturing, applicable to all customers globally for this application. Pleasingly, evaluations with additional multinational pharmaceutical customers are expected to commence in the current quarter.

Summary of AstraZeneca Agreement and Outlook

LBT Innovations has secured a significant contract with AstraZeneca, marking a major milestone in the adoption of its APAS® Independence technology. The agreement to sell five instruments and provide support services, valued at over AU$3.4 million, demonstrates the growing commercial traction and confidence in the technology within the pharmaceutical industry. The Company's strategy to target large multinational pharmaceutical companies has proven successful, with installations expected to commence with two multinational pharmaceutical customers in the current quarter. This positions LBT Innovations for further growth and potential adoption by other large pharmaceutical companies globally.