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TAP Graduate Innovative Biosensors and Thermo Fisher Scientific Form Strategic Relationship

TAP Graduate Innovative Biosensors and Thermo Fisher Scientific Form Strategic Relationship

Mtech TAP incubator graduate Innovative Biosensors Inc. (IBI), a company developing rapid, ultra-sensitive tests to detect harmful pathogens for both the biodefense and clinical infectious disease markets, and Thermo Fisher Scientific Inc., the world leader in serving science, announced that they had entered into a manufacturing and distribution agreement.

Under the agreement, the Thermo Fisher Air Quality Instruments business will manufacture IBI's proprietary BioFlash Biological Aerosol Collection, Detection and Identification System which provides near real-time, specific and sensitive detection of up to 21 pathogens in single test or multi-test formats. Thermo Fisher will also have a worldwide sales, marketing and distribution license under their Thermo Scientific brand, in certain markets for IBI's BioFlash together with any associated consumables. Financial terms of the agreement were not disclosed.

"We are excited about this relationship with Thermo Fisher," said Joe Hernandez, IBI's President and CEO. "Thermo Fisher's world class manufacturing capabilities will enable us to satisfy the growing market demand for the BioFlash, which offers the unique capability of sampling, collecting and identifying airborne pathogens in three (3) minutes. The extensive Thermo Fisher sales and marketing organization will enable the BioFlash and associated consumables to be offered on a much wider basis in new markets and new geographies through Thermo Fisher's extensive sales channels."

"The IBI technology is an excellent, complimentary fit with our existing air quality instrument portfolio," said Michael Nemergut, general manager for air quality instruments at Thermo Fisher Scientific. "This added biological capability enable us to extend our portfolio to include chemical, biological and particulate monitoring products for all sampling, collection and detection applications."

About Innovative Biosensors, Inc.

Innovative Biosensors, Inc. is a privately held company developing novel technologies for the rapid detection of pathogens in biodefense applications human clinical diagnostics. IBI's technology has been tailored to rapidly and sensitively detect biological threats in building security, military, and civil defense applications. Additionally, the technology platform is being used to develop rapid tests for the detection of hospital-acquired infections.

June 18, 2009

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