Australia's LBT Innovations hits over 9-month high on U.S. distribution deal

Clever Culture Systems

27/09/2021 05:09

** Shares of LBT Innovations Ltd  LBT.AX  rise as much as
12.5% to A$3.580, their highest since Dec. 11, 2020
    ** LBT's 50%-owned JV co Cleaver Culture Systems signs
five-year exclusive U.S. distribution deal with clinical
products supplier Remel Inc, part of Thermo Fisher Scientific
Inc  TMO.N   urn:newsml:reuters.com:*:nFWN2QR0BL
    ** Deal is for APAS Independence, co's product which
automates culture-plate screening and analysis 
    ** Stock posts its biggest intraday pct gain since Sept. 10
    ** More than 2.8 mln shares change hands, compared with the
30-day average of about 500,000 shares
    ** Stock up 14.29% YTD, as of Friday's close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((jaskiran.singh@thomsonreuters.com))