SYGNIS AG expands access to Chinese market with second OEM deal with TANON
Current OEM agreement expanded to cover two additional product lines / Expected annual revenue contribution now more than EUR 1M
Dr. Heikki Lanckriet, Co-CEO and CSO of SYGNIS, said: “With life sciences research activities increasing significantly in China, we have seen a heightened interest in and need for our cutting-edge reagents and kits, making China a key market for SYGNIS. The expanded deal with TANON is expected to contribute to growing revenues and, ultimately, achieving profitability.”
Pilar de la Huerta, Co-CEO and CBDO of SYGNIS, added: “China is a challenging market to enter. TANON is a well-known proteomics player in China and has a strong customer base in the right segments for SYGNIS’ products. Already from the start, our cooperation was very successful. TANON has proved to be a partner with an ideal fit and we are very pleased to extend the cooperation with this second agreement.”
Cheng Wei Meng, CEO of TANON, noted: “We are delighted to be strengthening our relationship with SYGNIS. The technology and product offering afforded by this partnership have been extremely well received by our Chinese customer base. We see real opportunities to extend this relationship further in the future.”
About TANON: www.biotanon.com
TANON Science & Technology Co., Ltd. was founded in the early ninety's, specializing in the field of development, production and marketing of the electrophoresis system and the software run with life sciences. With the combination of independent research and development, international cooperation and introduction, TANON dedicates to manufacture the highest quality products at the competitive prices and provide the advanced tool to the researchers who are engaged in the field of molecular biology.
This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason.
SYGNIS AG is specialized in the development and the commercialization of proprietary technologies and offers a wide range of different commercial products addressing key challenges in molecular biology. With the acquisition of Expedeon Holdings, Ltd. based in Cambridge, UK, in July 2016, SYGNIS has added a complementary proteomic product portfolio. Resulting from this significant expansion, SYGNIS' product portfolio now covers the entire workflow of molecular biology. In addition, SYGNIS acquired the profitable U.S. provider of Life Sciences tools C.B.S. Scientific in December 2016. The products of SYGNIS Group are sold through a direct sales force and several distribution partners in Europe, the U.S. and Asia. SYGNIS AG has offices in Germany, Spain and the UK, production sites in the UK and the U.S. as well as sales offices in Asia. The company is listed on the German Stock Exchange in Frankfurt in the Prime Standard segment (Ticker: LIO1; ISIN: DE000A1RFM03).