Biosensors

Biosensors: has entered into a licensing agreement with Eurocor, a group company of India-listed Opto Circuits, for their Drug Eluting Balloon (DEB) technology and related intellectual property rights in relation to the treatment of both coronary and peripheral artery disease. As a first step in this process, an OEM arrangement is being implemented, whereby Biosensors will market and sell, under its own brand, DEB’s manufactured by Eurocor. Following CE Mark approval currently anticipated within the next 6 wks, the DEBs will be launched in major European markets and selected regions in the Middle East, Africa and Asia. Mgt notes the addition of the Eurocor pdts complements Biosensors’ exiting portfolio of cardiac stents, and facilitates its entry into the peripheral vascular disease market. Biosensors recently reported a weak set of FYMar13 results, with the drag coming from loss of share in Japan amid competition from more advanced stents. Analysts believe the group needs a stronger M&A catalyst or product expansion strategy, for positive re-rating. The stock trades at 14.1x P/E.