What does LBT Innovations do?
LBT Innovations is an Australian developer of clinical and diagnostic technology. Currently, the Company’s leading technology is an invention called MicroStreak®. This technology has been exclusively licensed to our partner, bioMérieux, a leading international clinical diagnostics provider. The first application of the MicroStreak® technology was launched at the end of 2008, and is marketed by bioMérieux as the PREVI™ Isola.
What is the PREVI™ Isola?
The PREVI™ Isola is an automated agar plate streaking instrument. It performs the task of streaking (spreading) a clinical sample, such as blood or a biopsy suspension, on a small plate lined with agar gel. Once colonies of bacteria grow to a sufficient size, scientists can identify them and diagnose the patient’s disease.
Traditionally, agar plates are streaked by hand in a time-consuming process that is prone to human error and variation between samples. Using the MicroStreak® disposable applicator, the PREVI™ Isola robotic streaking system is capable of processing 180 plates per hour, which is significantly more than an experienced human technician. Published scientific research has shown that the MicroStreak® system is not only much faster and more efficient than the traditional method, but also produces superior results, with higher yields and better colony diversity.
Who is LBT Innovations?
The LBT Innovations Board comprises leaders with high level experience in the pharmaceutical, healthcare, legal and financial sectors. Their know-how in operations, management, corporate strategy and fundraising is complemented by an intimate understanding of hospitals and laboratories—the Company’s prospective client base. The management team is a streamlined unit focused on core operations and innovation. Most technical work is outsourced, while manufacturing and product marketing are currently performed by the Company’s partner, bioMérieux.
The Company’s Chief Executive Officer and Managing Director is Lusia Guthrie. Lusia has over 25 years’ experience in the pathology and pharmaceutical industries, including executive-level experience in pharmaceutical operations, manufacturing management, and technology commercialisation. Lusia was a co-founder of LBT Innovations Ltd.
The inventor of MicroStreak® technology, and now LBT Innovations’ Scientific Director, John Glasson was previously Chief Scientist for the Division of Clinical Pathology at the Institute of Medical and Veterinary Science in Adelaide, South Australia. His laboratory there performed over 1 million diagnostic tests each year. John has over 40 years’ experience in pathology laboratories and has managed a 24-hour emergency laboratory service within the Royal Adelaide Hospital.
Can I buy shares in LBT Innovations?
LBT Innovations is a publicly listed company based in Adelaide, South Australia (ABN 95 107 670 673; ACN 107 670 673). It was formed in 2004 and listed on the Australian Securities Exchange on 31 July 2006. As well as ordinary shares (ASX: LBT) there are outstanding Class B Options expiring 30 June 2013, exercisable at 20 cents (LBTO), and Class C Options expiring 30 June 2013, exercisable at 20 cents (LBTOA).
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