- Bluechiip (BCT) signs a two-year licence and development agreement with FUJIFILM Irvine Scientific (FISI)
- Bluechiip will customise and develop technologies for the assisted reproductive technology market to improve sample traceability and simplify workflows
- In return, FISI will pay BCT licence and development fees over the next 18 to 24 months and the companies will also negotiate a supply deal for the sale of Bluechiip’s products
- Bluechiip says this deal is a significant opportunity to grow into the IVF and cytogenetics market to increase efficiency and enhance customers’ day-to-day experiences
- Company shares were up 63.3 per cent on the back of this news to trade at 4.9 cents
Sample technology company Bluechiip (BCT) has signed a two-year licence and development agreement with FUJIFILM Irvine Scientific (FISI).
Based in California, FISI manufacturers cell culture media, reagents and medical devices for researchers and clinicians. It supports those working in cell therapy and regenerative medicine, assisted reproductive technology (ART) such as IVF, and industrial cell culture for the production of biotherapeutics and vaccines.
FISI will pay Bluechiip initial licence and development fees over the next 18 to 24 months and Bluechiip will customise and develop a range of technologies for the ART segment, designed to improve traceability of samples and simplify workflows.
During this period, the companies will negotiate and seek a supply agreement for the sale and distribution of the customised Bluechiip-enabled products including minimum volumes, pricing and other commercial terms.
BCT Managing Director said the deal marked a significant opportunity and further validated its technology.
“Our agreement with FISI will make some contribution to our revenues by way of licence and development fees over the next 18 to 24 months, but most importantly it provides Bluechiip a solid foothold in a lucrative worldwide market with a strong international partner,” he said.
“This agreement confirms our access to a market that FISI already services, its customers conducting hundreds of thousands of IVF cycles annually. Our agreement with FISI gives us the opportunity to grow into this market with our range of products, including readers, software and consumables.”
Bluechiip’s patented technology is a micro electronic management system-based wireless tracking solution that doesn’t contain electronics.
BCT claims what sets it apart from traditional identification technologies in the healthcare sector is it can function in extreme temperatures, is very difficult to clone or corrupt and is resistant to gamma sterilisation.
FISI Executive Director for the Medical Business Unit Steve Geimer said the customised technology will increase efficiency in managing frozen samples and will enhance IVF customers’ day-to-day experience.
Company shares were up 63.3 per cent on the back of this news to trade at 4.9 cents at 12:53 pm AEDT.