Biosensor Applications and Singapore Technologies sign distribution agreement
Biosensor Applications and Singapore Technologies sign distribution agreement Biosensor Applications Sweden AB and Chartered Electro-Optics Pte Ltd (CEO), a subdivision within the Singapore Technologies Group have signed a distribution agreement under which CEO will market and distribute the BIOSENS-D drug detection system in China, Taiwan, Hong Kong, Macau and in the ASEAN countries. "The agreement can best be described as a breakthrough, now that Biosensor is entering its industrialization phase. In CEO we have a strong, independent partner with global presence and we are very proud that they have shown this confidence in our products", says Carl Lundberg, CEO of Biosensor Applications. The agreement covers a period of three years and also includes the purchasing by CEO of a number of demonstration systems. The development of the BIOSENS system ("the artificial dog nose") started in Sweden in 1995 and is based on a unique combination of collection and analysis systems using cutting edge biotechnology sensors. The BIOSENS-D drug detector has outstandingly high Probability of Detection (PoD) rates, and equally low False Alarm Rates (FAR) when it comes to detecting the most prevalent illegal drugs such as amphetamine, cocaine, heroin and ecstasy. Other applications under development for the BIOSENS system are detection of explosives, mines and biochemical weapons. As of today 200 MSEK have been invested in development of the BISOSENS detection system. CEOs founded in 1997 as part of the Singapore Technologies Conglomerate. The company, which is listed on the Singapore Exchange (SGX) is a leading, worldwide provider of advanced solutions and services in Aerospace, Electronics, Marine and Land systems. The US is a key market where customers include the US Defence Department and Federal agencies. The Group has over 100 subsidiaries and joint ventures in 22 cities in 15 countries. Turnover in 2003 was 2,819 MSGD (12,515 MSEK). For further information, please contact: Carl Lundberg CEO, Biosensor Applications Sweden AB Telephone: +46 708 363 183 carl.lundberg@biosensor.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/03/24/20040714BIT20320/wkr0001.pdf