Shares of Microsaic Systems (LON: MSYS) are on the rise Friday after the company announced the addition of a new technology capability to its platform.
The addition is expected to launch in H1 2022 and is part of the company's planned transition from equipment-only sales to remote detection and analysis of human diagnostics and environmental health monitoring.
Glenn Tracey, CEO of Microsaic, commented: “Our enhanced platform will provide us with a significant opportunity for screening in both Human Health and Environmental applications.”
The latest addition to Microsaic's platform is the integration of its compact MS technology with Gas Chromatography (GC) and extends Microsaic's existing applications in Liquid Chromatography (LC). The company told investors that the combination will provide an extensive range of analyses for chemical detection for use in a combined market estimated to be worth over $1 billion.
“This transition to a data-centric and commercially focused company, strategically positions us at the core of addressing many global societal problems. Together, these advanced technologies and partnerships in Human and Environmental Health, established this year are expected to completely transform our business in 2022,” added Tracey.
Microsaic shares have gained 4.57% Friday, trading at 0.183p. However, the share price is still ranging. Last month the company rolled out its new Mass Spectrometry (MS) technology, which saw its shares gain over 2%.
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