Microba Life Sciences Limited (ASX: MAP) (“Microba”) is pleased to announce a master agreement amendment has been entered into with SYNLAB International GmbH (“SYNLAB”) (ETR: SYAB) to expand their field and extend the term of agreement to December 2028.
In 2020, Microba entered into a master agreement with SYNLAB International GmbH and an agreement with SYNLAB Diagnosticos Globales to deliver Microba’s testing solution to Healthcare Providers in Spain, with an option to formalise distribution agreements across their affiliate organisations, which operate in 36 countries. The details of these agreements are disclosed in Microba’s prospectus dated 11 February 2022.
With positive sales and customer feedback in Spain, SYNLAB has further activated their rights to pursue formal expansion into additional countries across Europe and Latin America.
Microba and SYNLAB have executed a major amendment to the master agreement to enable this distribution expansion including; a new agreement framework for SYNLAB countries; an extended distribution term to 31 December 2028, and an expanded field to include sales direct to Consumers as well as Healthcare Providers.
“This amendment to the master agreement exemplifies SYNLABs conviction and long-term commitment to our partnership. I am pleased to see this partnership formally advance to the next phase to expand access to Microba’s testing across their territories.”Dr Luke Reid, Microba CEO
Microba’s Senior Vice President of Services, Mr Bernie Woodcroft said, “SYNLAB is the largest European clinical laboratory and medical diagnostic services company by revenue and number of tests, servicing around 100 million patients annually. Although progress was delayed by COVID-19, we have now laid the groundwork in Spain providing a blueprint for SYNLAB to expand into key countries they operate in. This is an important step-change in the relationship as we double-down to take a leading position in microbiome testing across Europe and Latin America.”