Vancouver, BC — February 5, 2024 — Telescope Innovations Corp. (“Telescope” or the “Company”) (CSE: TELI) (OTCQB: TELIF), a developer of advanced technologies and services for the global pharmaceutical and chemical industries, announces it has signed a Distribution Agreement with METTLER TOLEDO (NYSE: MTD) for Telescope’s online chemistry sampling and analysis product, the DirectInject-LC™. METTLER TOLEDO is a global leader of precision instruments and services, including automated chemistry solutions provided by the company’s AutoChem unit.
This Distribution Agreement builds on the success of DirectInject-LC™, which has been adopted by 13 of the top 20 pharmaceutical companies in the world in the first year of commercialization.
The agreement between Telescope and METTLER TOLEDO takes advantage of METTLER TOLEDO’s global reach, sales expertise, technical support, and service infrastructure. This will help increase the availability of Telescope’s new technology offering, which supports the rapid development of robust, safe, and high-quality laboratory and related chemical processes.
“Through the new Distribution Agreement, we will be able to rapidly bring our products to customers across the globe without requiring a high initial capital outlay, ongoing overhead costs, and additional expenses for international distribution,” explained Jeff Sherman, COO of Telescope. “METTLER TOLEDO’s market leadership in the automated chemistry market, with thousands of installations world-wide, is ideally positioned to deliver our game-changing DirectInject-LC™ technology to research and process development teams across the fine chemical manufacturing and pharmaceutical industries.”
“Based on our strong existing relationship, with METTLER TOLEDO’s iC software integrated with DirectInject-LC™, it is a natural step to extend this collaboration with this global distribution agreement,” says Olivier Ubrich, Head of METTLER TOLEDO’s AutoChem business. “With an expanded geographical reach even more firms, from pharmaceuticals to industrial, will be able to visualize, interpret and report the results of their samples.”
DirectInject-LC™ is a breakthrough tool which allows unattended, continuous process monitoring using High Performance Liquid Chromatography (HPLC), the gold standard for chemical analysis in pharmaceutical and high-value chemical process development. This orthogonal, complimentary tool is a powerful extension of the existing portfolio of METTLER TOLEDO real-time analysis products and software.
About Telescope Innovations
Telescope is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability.
About METTLER TOLEDO
METTLER TOLEDO (NYSE: MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. For more information, please visit www.mt.com.
On behalf of the Board,
Telescope Innovations Corp.
Jeffrey Sherman, Chief Operating officer
Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements in this document include expectations surrounding Telescope’s online chemistry sampling and analysis product, the DirectInject-LC™, the Distribution Agreement with METTLER TOLEDO, the ability of METTLER TOLEDO’s global reach, sales expertise, technical support, and service infrastructure to help increase the availability of Telescope’s new technology offering, Telescope’s ability to rapidly bring its products to customers across the globe without requiring a high initial capital outlay, ongoing overhead costs, and additional expenses, and all other statements that are not statements of historical fact.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with the global COVID-19 pandemic; general economic conditions; adverse industry events; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.