Adelaide-based medtech company LBT Innovations (ASX: LBT) is moving nicely along the path to commercialise their flagship product, presenting clinical data at the European Congress of Clinical Microbiology and Infectious Diseases (ECCMID), which will be held online over the weekend.
The ECCMID represents the largest global conference for clinical microbiology and is a unique opportunity for LBT to present their findings to the scientific community and key opinion leaders in the space.
With a handful of sales already under their belt, LBT is well positioned to commercialise their first to market artificial intelligence technology, APAS® Independence, for automated analysis and interpretation of culture plates following incubation. The tech allows for automation of pathology systems thereby creating more efficient laboratories and consistency of results. The device is the only US FDA approved one of its kind. It is also approved by the TGA and is CE marked.
The conference will see five posters involving the APAS® Independence being presented, including clinical evaluations from studies completed at the Health Services Laboratory in the UK and SA Pathology in Australia.
LBT’s Scientific Director, Dr. Steven Giglio said: “It is really exciting to see such a large body of clinical data presented at the ECCMID conference, our largest to date and just as importantly from a number of labs across the globe. The presentation of independent clinical data at the largest global conference in our industry is extremely important as it provides reference points for customers and clinicians when evaluating the APAS® Independence. Application of the APAS® technology to early culture reads has the potential to further disrupt the current application of testing in clinical laboratories, with the potential to improve patient care through faster turnaround of results.”
The clinical microbiology market is worth USD $5.3 billion and growing at a rate of 6.5% per annum and, with COVID-19 still putting immense pressure on laboratories around the world, the demand for clinical pathology tools that streamline workflow within labs is only set to grow.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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