Both the companies also signed a supply agreement with minimum purchase volumes which was scheduled over several years.
According to Tecan, upon successful completion of development the sales potential would be over 100m over the first five years after launch.
The company also intends to ship the first serial units of the instrument for the start of the commercial launch to the diagnostics company within the next 24 months.
Tecan CEO Thomas Bachmann said their track record in the industrialization of R&D projects, specific know-how in automating many of the steps required, existing hardware and software elements and the dedication of the Tecan team has helped the company progress.