Owlstone Inc. Announces Partnership with FLIR Systems for Next Generation Chemical Detector EMD Phase

Published on 26 Feb 17

Norwalk, CT, February 26 2017: Owlstone Inc. announced today that it has formed a strategic partnership with FLIR Systems, Inc. (NASDAQ: FLIR) based in Wilsonville, Oregon, for the development of a fully operational and supportable NGCD system under the Engineering & Manufacturing and Development (EMD) phase of the US Department of Defense’s (DOD) Next Generation Chemical Detector (NGCD) program. The NGCD detector will rapidly detect, classify, and identify Chemical Warfare Agents (CWAs) and Toxic Industrial Chemicals (TICs) at 10 minute critical Military Exposure Levels (MELs) in the air and on various surfaces including those presenting with interferent mixtures. Designed to close capability gaps in chemical detection, the NGCD program conducted by the Joint Program Executive Office for Chemical and Biological Defense (JPEO-CBD) will support multiple mission events characterizing chemical hazards.

Owlstone’s exclusive partnership with FLIR calls for delivery of 60,000 NGCD chemical detectors under the program schedule for bids on the final system.  The new NGCD detectors incorporating Owlstone’s proprietary technology, will handle “libraries” of information to address the tremendous data potential of diverse military threats, provide extended-duration hazard monitoring, and deliver the highest level of sensitivity and selectivity ever achieved in a portable, self-contained unit. Owlstone’s fulfillment of its multimillion-dollar, multiyear, three-phase NGCD contract with the US DOD leading to the EMD phase reflects the DOD’s continued confidence in Owlstone’s proprietary chemical detection technology.

“We are excited to partner with FLIR in developing a matured engineered NGCD product,” said Bret Bader, CEO and Director of Owlstone. “We think FLIR’s record as a world leader in high-volume manufacturing of sensor systems for military defense makes FLIR an excellent fit for collaboration on this product using our patented technology. Owlstone is proud to contribute to the mission of the US Department of Defense in their efforts to protect our nation.” Under the partnership, FLIR licensed the technology from Owlstone, and will manufacture the units at one of their US-based facilities.

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About Owlstone Inc.

Owlstone Inc. delivers next generation chemical detection technology that is used to help diagnose cancer, protect the military, and monitor food, water, and air. Owlstone’s powerful platform technology delivers solutions in compact configurations at low power requirements to defense, medical, industrial, and IoT markets wherever there is a need for extremely sensitive and selective methods of detection. Owlstone partners with leading systems manufacturers and systems integrators to integrate its technology into next generation chemical sensing products and solutions.

SOURCE Owlstone Inc.

Forward-Looking Statements

The statements in this release by Bret Bader and other information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments, the Company's ability to secure additional working capital and/or generate sufficient cash flow to support its operations, and other factors could cause actual results to differ materially from the Company's expectations. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

About FLIR Systems, Inc.

Founded in 1978 and headquartered in Wilsonville, Oregon, FLIR Systems is a world-leading maker of sensor systems that enhance perception and heighten awareness, helping to save lives, improve productivity, and protect the environment. Through its nearly 3,500 employees, FLIR's vision is to be "The World's Sixth Sense" by leveraging thermal imaging and adjacent technologies to provide innovative, intelligent solutions for security and surveillance, environmental and condition monitoring, outdoor recreation, machine vision, navigation, and advanced threat detection. For more information, please visit www.flir.com and follow @flir.

SOURCE FLIR Systems, Inc.