Luminex Corp LMNX recently announced the signing of a new supply and distribution agreement with Bio-Techne Corp TECH, through 2020. The partnership deal involves immunoassay development and commercialization of Bio-Techne biological content using the Luminex testing platform.
Further, under the agreement, Bio-Techne will distribute Luminex multiplexing instrumentation, including the Luminex 200, FLEXMAP 3D and the MAGPIX platforms in major markets worldwide.
Recently, Luminex inked a deal with Affymetrix AFFX under which the latter will sell the afore-mentioned products in select countries of the Americas, Asia and Europe. Affymetrix will also sell Luminex’s products in tandem with its own ProcartaPlex multiplexed immunoassays and QuantiGene Plex multiplexed quantitative gene expression assays.
We believe these distribution agreements will significantly expand the installed base of Luminex’s instruments. The company is presently riding on the recent FDA approval for its ARIES System and ARIES HSV 1&2 assay.
The ARIES system is a molecular diagnostics platform designed to deliver increased laboratory efficiency. The system’s advanced features like internal bar code scanning, electronic reporting, STAT and Batch testing, together with a simple user interface, are aimed at minimizing operator error and improving test accuracy.
Luminex also recently announced the receipt of CE-IVD marking for its NxTAG Respiratory Pathogen Panel (RPP). Notably, NxTAG RPP is the only respiratory assay that enables laboratories to simultaneously detect 21 respiratory pathogens in a single closed-tube system and also accommodate the higher throughput required for responding to seasonal changes in demand.
Luminex’s Assay business continues to act as a primary growth driver for the company with impressive revenue generation. We believe that the remainder of 2015 will be an eventful one for the company as it prepares to launch ARIES as well as NxTAG RPP. While ARIES will target the low-plex testing market, NxTAG RPP designed for the moderate-to-high volume labs in the multiplex market.
We believe that by offering targeted testing on an ARIES system along with syndromic panels through the company’s xTAG and NxTAG product lines, Luminex is poised to enjoy a strategic advantage as it is the only company offering an end-to-end testing solution to laboratories.
Zacks Rank & Key Pick
Currently, Luminex carries a Zacks Rank #3 (Hold).
A better-rank stock in the same space is Masimo Corp MASI, which sports a Zacks Rank #1 (Strong Buy).
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