Universal Biosensors announces release of Siemens Xprecia Stride Coagulation Analyzer

Universal Biosensors, Inc. (ASX: UBI) is pleased to announce that Siemens Healthcare Diagnostics Inc. (“Siemens”) has initiated the European limited release of the Xprecia Stride™ Coagulation Analyzer, its first point-of-care coagulation testing product. The Xprecia Stride™ Coagulation Analyzer is a PT-INR testing system that incorporates UBI’s unique electrochemical sensing technology which offers high performance and ease-of-use in an affordable, handheld format.  The product launch has triggered a milestone payment of US$1 million from Siemens to Universal Biosensors.

The Siemens Xprecia Stride

Universal Biosensors CEO Paul Wright said:

This is an important milestone for both Universal Biosensors and Siemens. We have been collaborating on the development of this product for more than three years and we are confident the Xprecia Stride™ Coagulation Analyzer will be well received in the point-of-care market.

The system is used to monitor the application of the anti-coagulant therapy, Warfarin. Universal Biosensors is the exclusive manufacturer of PT-INR strips for Siemens at the Company’s existing plant in Rowville, Victoria.

It is estimated that up to ten million patients globally are taking Warfarin. Patients are prescribed the drug for a variety of reasons, including the treatment of blood clots in the veins or certain heart conditions which increase the likelihood of a potentially life-threatening clot forming. Patients on Warfarin require frequent testing to assess the clotting tendency of their blood. The Prothrombin Time (PT-INR) test allows physicians to adjust patient doses for diet and lifestyle changes.

The worldwide point-of-care coagulation testing market was estimated at ~US$1.0 billion in 2014 and is forecast to grow by ~9% per annum to ~US$1.4 billion by 2018. The coagulation testing market is dominated by PT-INR testing, which represents about 65% of this market. There are currently two major players in the POC Professional PT-INR testing market – Roche and Alere. The Xprecia Stride™ Coagulation Analyzer will represent Siemens’ first entry into this market.

On 9 December, UBI announced that the product had completed CE mark self-certification. The PT-INR test is the first of several tests in development with Siemens designed to bring laboratory-quality to the point-of-care.

CEO of Siemens Healthcare Point-of-Care business unit, Dr. David Stein said:

The Xprecia Stride™ Coagulation Analyzer is an exciting new product in an attractive market space for Siemens, extending our 30 years of leadership in hemostasis now to the point-of-care. Our teams have worked hard together to reach this important milestone in our collaboration which offers great opportunity to bring laboratory performance to near-patient testing.