Oxford Instruments wins major order enabling a new generation of Mass Spectrometry based bio-tools

Oxford Instruments Superconductivity has been selected as a key supplier of superconducting magnet technology to Thermo Electron Corporation (NYSE:TMO) that will enable a new generation of bio-tools for medical and scientific research. The award winning world's first commercially available, high performance Hybrid Ion Trap - Fourier Transform Mass Spectrometer (LTQ FTTM) will use Oxford Instruments' superconducting magnet technology to help deliver its high performance specification. The Fourier Transform Mass Spectrometer (FTMS) platform developed by Thermo Electron represents a paradigm shift in mass spectrometry, as it transforms a highly complex technology into an instrument ideal for use in routine pharmaceutical and biochemical research. Oxford Instruments' superconducting magnet is a critical enabling element at the heart of the instrument, which will play a major role in future drug discovery and life science applications. By uniquely combining high resolution, accurate mass determinations with MSn, Thermo Electron's highly advanced Finnigan(TM) LTQ-FTTM facilitates the precise elucidation of protein structure and function. The information gained from this new bio-tool will increase knowledge on biological function and ultimately assist in the advancement of novel drug discovery, diagnostic and therapeutic solutions. Oxford Instruments underwent a rigorous supplier selection process where it demonstrated the consistent quality of its magnets, critical for the delivery of such a high performance technique as Finnigan LTQ-FTTM. A further factor for consideration was the expected exponential growth of the Finnigan LTQ-FTTM market over the next five years. It was, therefore, essential that a primary supplier could meet all these exacting demands in terms of both quality and supply. The supplier agreement is estimated to be worth EUR 3m over the next 18 months with EUR 1m already committed. FTMS platforms are well positioned to help advance the needs of many life science and pharmaceutical analytical applications and it is expected that advances in FTMS will enable significant growth opportunities.