- Mass spectrometry group Microsaic Systems said a key partner had decided not terminate their collaboration agreement at the the commercialisation phase.

The partner, which the company said was one of the 'foremost players in the global market for scientific instruments', had completed the second, integration phase of their deal.

Completion of the integration phase came after they'd wrapped up the feasibility phase.

'However, the partner has decided not to take the project forward into the final commercialisation phase at this point in time, as it has decided to focus resources on internal projects in support of its core business,' Microsaic Systems said.

Termination of the collaboration would not have a material impact on the Ccmpany's results or cashflows for the financial years 2018 and 2019, it added.

Microsaic Systems said its balance sheet remained 'strong' with cash of around £5.4m forecast for the end of 2018.

At 1:24pm: [LON:MSYS] Microsaic Systems PLC share price was -0.35p at 1.05p

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