- Current OEM agreement expanded to cover two additional product lines
- Expected annual revenue contribution now more than EUR 1M
Madrid, Spain, and Heidelberg, Germany, April 24, 2017 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) today announced the successful completion of a second contract with TANON, the leading Chinese proteomics company. The OEM deal expands the current agreement, granting the rights to sell three SYGNIS product lines. The earlier agreement, which covered precast gels, now adds InstantBlue for easy protein detection and Ultrafast blotting buffer for Western Blotting (a widely used analytical technique used to detect specific proteins in a sample). Under the terms of the new agreement, TANON will sell the SYGNIS products under the TANON label to the Chinese market. This arrangement will enable TANON to deliver a more comprehensive solution to its customers, underpinning proteomics research. With this new agreement, the annual revenues from the TANON relationship are expected to exceed EUR 1M. Expedeon, which was acquired by SYGNIS in 2016, closed the earlier deal with TANON in December 2015.
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.”
For further information, please contact:
SYGNIS AG
Dr. Heikki Lanckriet
Co-CEO/CSO
Phone: +44 1223 873 364
Email: heikki.lanckriet@sygnis.com
