Microsaic plc has signed a new framework agreement with, and an initial contract worth £400,000 from, Innovenn UK Limited, a division of DeepVerge plc ("DeepVerge"), to refine and miniaturise existing monitoring equipment for environmental and human health diagnostics (the "Manufacturing Services Framework Agreement" or "MSFA"). The MSFA framework sets out the terms and conditions for Microsaic to improve and manufacture certain DeepVerge products and to provide the design, assembly, quality, and project management functions necessary to produce and ship equipment based on DeepVerge approved specifications, design, and quality requirements. The MSFA extends the parties' existing relationship which was formalised in the 3-year framework agreement announced on 24 March 2021[i], under which Microsaic supplies its own miniaturised mass spectrometry equipment and services on a non-exclusive basis across DeepVerge's global sales, marketing and distribution channels, for healthcare diagnostic and environmental health applications.

Further manufacturing services contracts with DeepVerge may follow under the new MSFA, subject to satisfactory execution of the initial contract and mutual agreement.