News and Announcements
Universal Biosensors Shareholder Newsletter; Financial Results, R&D Developments, & OneTouch Verio Flex™
- Published March 22, 2016 10:35AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
In this edition we hear from Universal Biosensors’ new non-executive director, David Hoey, look at what R&D means for UBI, hear about LifeScan’s latest innovation with its OneTouch Verio Flex device, and farewell CEO Paul Wright.
As you are no doubt aware, Paul Wright has retired as CEO of Universal Biosensors after five years leading the company and I have taken on the role as we seek his replacement.
Universal Biosensors’ financial results for 2015 showed the company continuing to make excellent progress – operationally, developmentally and financially.
A significant part of UBI’s business activity today is in “R&D”. Indeed, the largest area of expenditure for the company is in “R&D”, with $19.8 million spent in the last financial year. It’s a significant amount of money, but also a significant investment in our future.
Q & A WITH DAVID HOEY, NON-EXECUTIVE DIRECTOR
“UBI has an excellent team in place with a demonstrated record of innovation and product development. The company has also forged strong relationships with world leaders in the pharmaceutical and medical device industries.”
LIFESCAN INTRODUCES NEW ONETOUCH VERIO FLEX WITH COLOUR
Universal Biosensors’ partner LifeScan has released a new OneTouch Verio Flex™ blood glucose monitoring system that uses colour indications to make it easier for diabetics to gauge and manage their blood sugar levels. The blood glucose test strip developed by UBI is used in this new system.
PAUL WRIGHT FEATURES IN THE AUSTRALIAN
Late last year Paul Wright was featured in The Australian advocating that Australia’s Research and Development Tax Incentive should be extended, so that companies with revenues up to $50 million may continue to be eligible to receive the R&D Tax Rebate (instead of currently becoming ineligible when revenue exceeds $20 million).
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