Universal Biosensors (ASX:UBI) is a specialist medical diagnostics company developing and manufacturing test systems for point-of-care (POC) medical professionals and home use.
UBI’s core technology is a disposable, multi-layer test strip, which uses its proprietary electrochemical sensor to rapidly and accurately measure biomarkers in the blood.
The first product developed by UBI with LifeScan (a Johnson & Johnson company) is a blood glucose measurement device and is on the market and generating revenues for UBI. The second product developed by UBI in collaboration with Siemens Healthcare has also been launched.
The global point-of-care diagnostics market is estimated to be worth nearly US$17 billion a year and growing.
Please listen to Mr Paul Wright, the CEO of Universal Biosensors.