Completion of Acquisition

Microsaic Systems plc (AIM: MSYS), the developer of micro-electronic instruments and analytical solutions, announces that, further to the announcement made by the Company on 12 January 2024 (RNS No. 5915Z)1, it has completed the acquisition of the Modern Water assets and the Microtox® water testing business previously owned by DeepVerge plc.

Bob Moore, Acting Executive Chairman, commented:

"This concludes our recent corporate activity to recapitalise Microsaic on an enlarged basis by integrating the Modern Water Microtox® water testing business. We are now in the process of installing the acquired equipment in newly leased and lower cost laboratory space in York, England. We intend to restart sales and manufacture of water testing reagents as soon as reasonably practicable, to meet continuing demand from the installed base of Microtox® users.

Additionally, we remain focused on supplying and servicing to customers operating Microsaic's mass spectrometry units, through our existing outsourced manufacturing partner and a newly appointed outsourced servicing partner. We are committed to supporting existing clients and prospective distribution partners in assessing the ProteinID and PFAS2 units ahead of planned field trials expected in H1 2024, designed to assess their performance in monitoring biomanufacturing of drugs and the detection of 'forever chemicals'."

1 https://www.londonstockexchange.com/news-article/MSYS/acquisition-update-change-of-registered-office/16287737

2 PFAS are Perfluoroalkl and Polyfluoroalkyl synthetic chemicals which have potentially carcinogenic properties and don't naturally break down hence called 'forever chemicals'.