Strategic Diagnostics has signed a new agreement to supply bio-reagents to a large manufacturer of in-vitro diagnostics; the initial term of the agreement is five years
Starting revenues are estimated at $1 million per year and are anticipated to more than double over the term of the agreement.
Strategic Diagnostics will begin shipping bio-reagents to the customer in the fourth quarter of 2006.
"Contract production of bio-reagents through our Strategic BioSolutions brand is a core competency of Strategic Diagnostics ," commented Matt Knight, president and CEO.
"We have a relationship based on well-demonstrated and proven capabilities with our customer, which has now significantly extended the scope of business through this agreement.
"During the past two years, the SDI team has worked tirelessly to secure contracts like this one through process improvement and technical innovation.
"Process improvements throughout the value chain assure the highest quality product and seamless integration into our customers' production schedules.
"Innovation, like SDI's Genomic Antibodies initiative, gives our customers confidence that we are well equipped to bring leadership in response to new challenges and opportunities as they arise."
