Qiagen N.V. ($QGEN)

Welcome to our spotlight session. Today, it's all about QuantiFERON. And in the next hour, you will learn more about our strategic priorities and the latest developments. But before we start, let's have a closer look into the legal disclaimer. As with any investor event, this presentation includes a safe harbor statement. You're likely familiar with this from our other presentations. So I won't read it in full. However, please remember that we will be making forward-looking statements. Actual results may differ materially from those projected, and the factors driving those are detailed in our most recent Form 20-F filed with the Securities and Exchange Commission. A copy is also available on our website. Today, I'm not alone in the studio, and I would like to welcome our CEO, Thierry Bernard. Hello, Thierry, and good to have you here. Over to you.

Thank you, Domenica, and good morning, good afternoon, good evening to all of you. Thanks again. for your attention and interest in Qiagen. A year ago, and I hope and I think that most of you attended that event a year ago, we organized an Investor Relation deep dive session on quantified. And we wanted to leave you with 3 main messages. One, tuberculosis is still the main infectious diseases killer in the world. Remember, tuberculosis continues to kill more than HIV and malaria every year, 1.6 million of people will die every year of tuberculosis. But the reservoir of active tuberculosis latent tuberculosis is even a greater health care challenge. 2 billion people in the world are estimated to be impacted by latent tubercolosis, this is an incredible number. Second, Qiagen is the undisputed leader for more than 20 years now for latent tubercolosis is testing. But despite being a leader, we have never been complacent or arrogant and we have continuously invested into the development of our solution. First, if you remember, back in 2016, the front-end automation and the unique partnership with a leading company in immunodiagnostic DiaSorin. Second, the continuous improvement of our test itself to keep and its chemistry, bringing the only combination, I repeat only combination on the market of CD4 and CD8, which is so critical to be able to manage specific population of patients, like, for example, immunocompromised patient. Think about HIV patients hepatitis patient. QuantiFERON latent TB testing is by far the most sensitive test on the market. Third, improvement after the automation of the back end of the test with DiaSorin, the automation of the front end of the test with partners like Tecan, Hamilton to leading companies again. The third message we wanted to leave you with a year ago was the market potential is still significant, especially the market conversion of skin test and antiquated technology. And we told you -- but the best -- or the best estimation today are that we still have around 50 million, 5-0 millions of test skin test in the world. ready to be converted to a more modern approach like Qiagen QuantiFERON. Just in the U.S. alone, it's 15 million to 16 million of skin test to be converted. But we don't want to stand still. Today, we are coming to you to announce that 3 leading companies are reserve strengthening or creating new collaborations to bring an even better set of solutions to our customers. First, DiaSorin, our partners for quasi 10 years now. Second, a leading company in full engineering and automation in [ Peco ] and we will have their CEO, Ricardo reserves today. Third, Qiagen, of course, continuously investing into our solution. First, new innovation, and you heard about it at least in Europe, is an unprecedented improvement of the efficiency of our current test. Turnaround time is of use. We call it clear to already available for some months in Europe now available as well in the U.S. Second, innovation today, the first and probably only end-to-end automation, sample in result out automation for Quantify. For the first time, 2 companies together with DiaSorin are bringing the first full automation workflow where a technician will just need to put a tube into the system and wait for the result. And third, a unique and clearly only possible for Qiagen because of 20 years of test, a unique AI investment to help doctors determining tomorrow, who in the whole population of latent TB patient has the highest score to move to active TB. This is tremendously exciting. This is innovation at its best. But even so, it is also confirming that Qiagen doesn't take our leadership with complacency.

Thank you, Thierry. Innovation clearly doesn't stop here. And with that, let me hand over to [ Nadia Albrecht ], who is going to tell more about our unique QuantiFERON ecosystem.

Hello, everybody. It's great to see you at this QuantiFERON Spotlight event. WHO has announced that by 2035, they would like to eliminate tuberculosis. You can only eliminate tower loses by working on your active TB cases and treat your patients, but you should also look for the reservoir. And this reservoir is latent TB or TB infection. 25% of the world population are about 2 billion people are infected with latent TB. Qiagen estimates the global latent TB testing market at approximately 75 million tests annually, growing about 4% to 5% per year. Only about 40% of this market has been converted from traditional skin test to modern blood-based interferon gamma release assays or IGRAs. Patients that usually get tested are immunocompromised, health care professionals people that live and close relationship with an active TB patients, but also other groups. All of this together makes a market potential of 1.6 billion in 2026. During our deep dive of QuantiFERON of last year, we told you that we would continue to invest in our QuantiFERON portfolio. And this is indeed what we have done. From the beginning of the acquisition of Cellestis, Qiagen has nonstop invested in making our QuantiFERON assay better, more specific, more automated and more reliable. When we launched our fourth generation, we added a patented CD4, CD8 antigen technology. And this has allowed us to have a more reliable assay for critical ill patients like immunocompromised and HIV. The magic happens in the tubes, but we never stopped looking and how we can further improve the test. Today, we are proud to present our next step in workflow enhancement and the creation of a QuantiFERON ecosystem for improved automation and patient management. The first improvement is the launch of a new LIAISON chemistry together with our partner, DiaSorin. The new chemistry is designed to improve speeds, throughputs and workflow efficiency by enabling labs to test up to 75% more patients per hour and achieving a 25% faster turnaround time compared to the previous version. It was launched in November 2025 in Europe and recently launched in the U.S. after receiving the U.S. Food and Drug Administration approval in February 2026. The feedback of our clients are very positive, and we are on track in our conversion plan between the old and the new chemistry. Latent TB testing is moving towards higher volume, more automated workflow as the market increasingly shifts from traditional skin test to modern era based detection. Qiagen has been investing in automation for several years, partnering with companies such as Tecan and Hamilton, to streamline pre-analytical steps and with the actin to automate the detection on the LIAISON platform. But we felt as the market leader that we had to go a step further and aim for a full automation, enabling labs to scale with growing demand. This is why Qiagen, leader in globe-based latent TB testing and Peco, a leader in lab automation, and DiaSorin, leader in high medical value testing have started the development of the first full automated block-based IGRA testing platform that we plan to launch by the end of 2027. The lab technician will only need to load the samples and all the other steps in the process will be done automatically. And the right sequence and at the right time. This is the first and only blood-based IGRA test for higher volume testing that will be fully automated. [Presentation] With this partnership, we are leading, again, the next-generation blood-based IGRA testing, and we will have an automated proposal linked to the volume needs of our clients. 20 years of experience, 4 generation of test, multiple endorsements and more than 2,700 publications. We are the only company that has this experience. Based on this, we are creating an AI-enabled risk certification to -- for TB progression with the goal of supporting stratification of patients at a higher risk of progression to active TB disease. With this tool, we are creating a real sample to insight QuantiFERON ecosystem. This tool will use the values of our 4 unique QuantiFERON tubes, along with other parameters to deliver a more complete view of the immune response to TB. The tool is built on one of the largest longitudinal TB clinical data sets, comprising about 13 million de-identified patient records collected over the last 10 years. And is intended to support health care professionals and making more informed decision, improving patient counseling and supporting enhanced patient care. At Qiagen, we nonstop continue to invest into QuantiFERON as we grow with our clients and we answer the needs of this growing business.

Thank you, Nadia. And Nadia will also be here with us in the studio for the Q&A. The topics, detection, automation and AI-enabled risk stratification Cherry, let's focus for now on automation. And for that, I would like to welcome the CEO of Inpeco, Riccardo Triunfo.

Yes, indeed, we have Ricardo with us. It's an honor, Riccardo to have you with us this morning. Let me start with the first question. You're a leading company in engineering and live automation explain to us why is end-to-end automation so critical for customers those days.

So first of all, Thierry and thanks for this invitation. I think we are all proud to announce this joint impactful innovation. So to answer your question, let me start from our vision. So we, as a company, we believe in a world where medical errors are eliminated through lab automation, software and data traceability. We all know today, labs are facing what is called the perfect storm, chronic shortage of skilled staff and a massive increase in testing volumes. And that end-to-end automation is in our view, the best way to solve this. By removing manual touch points, we reduced the potential for errors and ensure the full traceability from the moment a sample arrives until the final result. This allow labs to scale their operations efficiently while guarantee the highest level of clinical integrity.

That's very good. And Riccardo, if I may, I have a second question for you. like us, like Qiagen, you work every day with the biggest labs in the world, the quest, the [ LabCore Serba ] in the world. Why do you think a purpose built automation, full automation for QuantiFERON would make sense for those kinds of customers.

Yes. Thanks, Thierry. I mean it makes a lot of sense because laboratory today serve a massive spectrum of needs from small specialized labs to large centralized facilities that you mentioned. With an increased sample volume. The challenge is how do they scale operations and reduce manual steps simultaneously. This is exactly where I see our partnership makes a difference. Inpeco is not just providing a track to Qiagen. We are integrating a fully automated full automation for the entire diagnostic workflow through our flagship automation, the [ Flex Lab ] with new dedicated modules and software. So by combining Qiagen leading detection capabilities that we have seen with our DNA in automation, we are creating a truly integrated and fully automated solution for QuantiFERON latent TB testing -- throughput and reduce ends of time. And let me say, more importantly, create a super standardized, repeatable process that brings long-term value to the health care system and the labs across the globe.

That's really exciting. I think, Domenica, that you had another question for Riccardo as well.

So one last question from my end, Riccardo. From an investor's perspective, and I think they will be very interested about that. But when do you think the first systems will be up and running at our customers?

No, it's our commitment to move with the greatest momentum to bring this next-generation system to the market. Our ambition is to have the solution fully up and running in laboratories in late 2027. And now we are in a phase where obviously we are also understanding if this can be anticipated. But the forecast is late to 2027. Thanks for asking.

The good thing, Domenica, to leverage a bit what Ricardo just said, is that we have already under CDA presented together with Ricardo sometimes separately. The solution to some key customers. And what I can testify today is that the reception and also input from those customers have been -- hello there -- sorry.

So as you've seen, we now also are joined by Nadia in the studio. Welcome back.

Hello, Domenica.

Hello. So we're ready now for the Q&A and taking your questions for the Thierry and Nadia from the studio, and we also have some more speakers for you today. Welcome back Riccardo. And we also have, as a speaker, Nitin Sood, you know him from our last events, Head of Product portfolio and innovation. And we also have for you ready to take your questions, [ Parampal ], who is the Head of R&D applications for QuantiFERON Before we start, just as a quick reminder, if you haven't done so, please type in your questions into the Q&A box into the web portal, and we're very happy to take them. And I think we're ready for the first question, right? So let's start with the first one. Are there any competitors currently offering end-to-end track-based automation for latent TB testing and how differentiated is QuantiFERON's position in that area.

Well, the answer is very simple, Domenica, it's no. First of all, even as of today, with the current workflow, Tecan or Hamilton, QuantiFERON and DiaSorin, there is no comparable automation. And tomorrow, this will be unique and really specific to QuantiFERON. So the answer is clearly no. It's at the moment, unprecedented.

So the next one, do you expect -- sorry, I jumped, give me a second. There's lots of questions coming in -- that's why it's jumping. So apologies for that. Do you expect an impact of AI-enabled decision support on testing volumes or market expansion?

Well, I'm going to ask Nitin to take that question because, obviously, you understand that we are taking a bit here. It's a very well-considered bet. It's a fantastic evolution because the holy grail in the fast -- in the fight against TB will be that ability to detect or to predict predictive biology, who in the population of latent TB has the most risk to go to active TB. So what do you think, Nitin?

Yes. I mean, I think, first of all, I just want to emphasize the fact that only we get business intelligence into the test is risk-based progression score because only we have access to these 30 million patients than a longitudinal data. And again, I just want to remind everyone that most people who have latent TB don't have active symptoms and may not follow through with their treatment. And therefore, providing this intelligence to the patient or to the physician will increase compliance to treatment. And that is a big differentiator, and we absolutely hope that will allow us to expand our leadership position in the latent TB franchise.

So the next one is on the partnership with Inpeco. The development of end-to-end automation solution, is it purpose-built for QuantiFERON?

It is, but I would like to invite also Riccardo to give also his vision here.

Yes. Thanks for this one, Thierry. So while our history is completely rooted in an open automation, this project has been ideated and will be developed with and for Qiagen specific. So we are developing a new ally quarter, which is specific to the testing, as you have seen in the video and an intelligent incubator that have been designed ground up specifically for the QuantiFERON test. So this level of specialization, which is incorporating Qiagen specific configuration and workflow design is exactly what allows us to guarantee the high level of throughput and the -- reduction, which is also defining our mission. So that's why we are prioritizing the integrity of the specific test will ensure the highest standard of patient care. And that's why this test is specific, this automation and workflow is specific for Qiagen.

Yes. So the next one is on partnerships, right? So what drove the decision to partner with Inpeco versus QIAGEN's prior automation partners such as Tecan Hamilton. What is the value? And the next one is on AI. Let's keep it for now on Tecan Hamilton.

On Inpeco, I think it was a choice that became very clear to us when we decided not to think about automation in terms of adding some different instruments, but thinking from scratch and say, why don't we build something purposely for our test. And therefore, Inpeco, a company that we have been respecting for so many years, and we knew that, guess what, they were present, where we are present. They are present in our biggest customers. We see them every day. It was a natural partner.

Let's now move to the AI question. So the value of AI-enabled risk ratification and which segments of the testing market would this be most relevant for.

I think first, we should probably give a bit of science with [ Par and pole ] on what we are trying to achieve. And then I will ask Nadia to take that question on specifically the patient population that we are targeting. Paranpal?

Thank you, Thierry, and hello, everyone. I want to say a few things. I'm so excited to say this, Qiagen has acquired 13 million unique de-identified patient sets. And Qiagen is the only company who has this breadth of testing, and these data span from 2017 numbers. So it's almost a decade worth of data. And the key here is the long issue -- now data. That means that the patient has to be tracked or tying and we need to have full history of multiple QuantiFERON tests and all other patient parameters, which go with the testing to diagnose the latent TV to active TB. And the value of CD4 and CD8 is so unique to Qiagen because it gives the comprehensive view of the immune response. These patients are already sick and they could be immunocompromised and this is what advantage QuantiFERON test brings to the table. So that being said, these data sets are spanning from all geographic distribution of U.S. It has pediatric to geriatric population, which is so important for the TB disease, and this will allow us to have a full comprehensive view of immune response for patients at an individual level. We already know that these risk factors are determined at a CDC and WHO level at a population level. But the key is what about the patient level, and that's the beauty of this risk score. Risk stratification, a tool which we are bringing to the table.

Thank you, Paranpal. Nadia, can you say a word about what kind of patient segments would be even more interested?

Yes. So thank you, Thierry. For the patient segments, according to the guidelines in the U.S., every latent TB patient needs to be treated. But as Nitin already said, if you're not sick yourself and you need to start a treatment, sometimes it's difficult to convince the patient to be treated. So this is why we hope this tool can help the clinician to show to their patients, the added value of getting a treatment and why it should be done. So in principle, it is going to be done for all patients that a clinician sees. We know that some people are very at risk. If you take biologics and if you're immunocompromised, these are very high-risk patients. but it's really to convince a patient, please follow your treatment and finish your treatment and don't stop it because this is surely not good.

So we have a couple more on AI. Maybe we'll stick to that for a moment. institutional organizations like WHO migrations officers and so on, we'll probably be very interested by the AI tool that we already started to discuss with them and what's the input on that?

I would say that Qiagen is a, first and foremost, a fact-based company. So we try to avoid making claims as long as we are not clearly sure that we are saying -- what we are seeing, what we are bringing to the market is proven. And so before having those organization, WHO, stop TB introduced, we prefer to have even better data deeper data and then we'll engage them. But those are partners of Qiagen for so many years. Remember, back in 2015, when WHO stated that latent TB was a key asset in the fight against active TB, it was after discussion and work with Qiagen.

Then to stay also again with the AI tool. The question is, when is the launch date? Is it any -- a bit more -- let's be a bit more specific on the software for predicting tuberculosis. And also, is it exclusively for QuantiFERON and DiaSorin customers who can benefit from that AI risk certification tool that we're launching.

I would invite Nitin to take that question, Nitin, on the approximate launch date and on which kind of workflow we want to adjust that tool.

Yes. I mean, again, that the tool is very specific to QuantiFERON because, again, it requires both CD8 and CD4 and it requires access to this longitudinal information that we have collected now through this [ 13 million ] data sets -- for over a decade. So very specific to us. And I just want to highlight that we have a very cross-functional team working on this. We have experts in the QuantiFERON chemistry clinicians or medical experts also working with us. So it's a very cross-functional effort. And the goal is to get the test out as quickly as possible. We're targeting 2027 for the launch of the two.

Nitin mentioned CD4, CD8, and we have a question around that. So what advantages does the CD4, CD8 base latent TB tests have?

Nadia?

Yes. Thank you very much. So I'm going to give the basics and then afterwards, I'm going to invite Paranpal to continue. As a company, Qiagen decided to launch a fourth generation. we were already in the market for some time, and we knew very well why we decided this unique CD4, CD8 combination because we wanted to improve, and we wanted to put the standard again a little bit higher. So what we see today is, and we see this from all the publications that are out there. that with a combination between CD4 and CD8, you have a much more solid test and your results are much more reproducible. So I don't know, Parampal if you want to add something on the science part.

Sure. Thank you, Nadia. So the CD4 cells are available, T cells are available when there is a response against TB antigen. However, when there is a patient population, which is immunosuppressant, their CD4 cells response could be impaired. In that situation, it's so important to have another T cell response marker, which is CD8, which allows us to look at more biologically relevant information on those patient populations, which are high risk. And if you look at the TB case management, these are the groups who are more prone to get from a TB infection to TV disease. This is why a combination of CD4 and CD8 allows us to have more sensitive and specific test which people can rely on patients can rely on clinicians can rely on and the laboratories can rely on. So this is the uniqueness of CD4 and CD8, which is evident -- so much evidence is available through publications, which allows us to really be proud as a Qiagen to have a very strong test on the market.

So now 1 question again on automation, which is Tecan Hamilton. So just to clarify that, are we still offering -- is there still a partnership with Tecan Hamilton with the impact of system that we're going to launch.

But we need to be clear. What is the power of automation? It's obviously ease of use, gaining time, gaining efficiency, cost efficiency, patient efficiency. But the power of automation -- automation is also in flexibility. It's not one size fits at all. And therefore, we want to continue to offer the QuantiFERON as it is, the QuantiFERON on LIAISON. Nadia spoke about the conversion progressively to the CLIA2 on LIAISON. Some customers are only sometimes interested in the front end, and they are used to work with Tecan. It's going to continue. The same with Hamilton. Some customers would say, I take care of the front end, I have the technicians for that. And I just want the liaison automation. That's perfectly fine. It depends on volumes. It depends on throughput. It depends on the country. But something I would like to ask also Nadia to highlight is that even our full automation with Inpeco Peco will be flexible.

Yes. Thank you very much, Thierry, indeed. So we really need to give an answer to the needs of the customer if you have a small customer or to a higher customer. And I think a lot of people if they see Inpeco, so we have different possibilities. The 2, so the [ alicator ], and we have our incubator. And alicator will be needed if a customer works with a 1 tube format. An alicator will not be needed if a customer works with a forte format. So this is already a tailor-made solution. You have an incubator depending on the volume you're going to be able to have a day, you can put in multiple incubators one besides the other. And you could, in principle, also build on a current street that is already available in labs. So we really go from a tailor-made solution because when a customer wants to go for automation we make a group we sit down with the customer, and we make together with Inpeco, together with [ Asuran ] and us, we make a tailored proposal to the needs of the customer. Also keeping in mind that sometimes customers can grow -- so if a customer would grow in their volume, there's always a possibility to add an extra VSO instrument or to add the next incubator.

And on volume, which customers would benefit from an end-to-end workflow from an end-to-end automation? Is it more targeted to high-throughput customers. So just maybe a bit more color on that.

So it's really targeted for what we call our high-end customers. But don't be blind. This is not only U.S.-based customers. So worldwide, we have quite a lot of customers that have a possibility to go into this automation process. These are customers that today we would like to serve in a way that is unique in the market.

Okay. I'll jump back to AI. We have a couple of more AI topics. Why does risk stratification matter? And isn't it the point to treat all patients? And just what's the added value for that?

Because we tried to explain, especially also a year ago during our deep dive that when you have such a reservoir of potentially activity. We said 2 billion, 1/4 of the world population, which means probably that in this room, there is someone who is let anti positive. We like -- but that's the way it is. 2 billion people. It is clear that from cost management from, I would say, personalized medicine standpoint. Having the ability to detect or to predict who in dose latent TB has the highest score to go to active TB, therefore, needing a specific follow-up, a longer treatment specific attention and complete adherence because that's the problem many times with the patient. They do not comply sometime with their treatment. It's key. Many companies have been training and Qiagen as well with different technologies for many years to get there with protein-based option with genomic-based solution. It failed all the time. And suddenly, we realize, wait a minute. These companies have multiyears of -- multiple results. And we have also acquired all other health care data and now we are creating those algorithm.

So now let's see -- let's take a financial one in between. It's on our 2028 target of $600 million. What gives us confidence in that? And also how the new launches are contributing to that?

So that's a very fair question. Back in our -- back to our Capital Market Day in 2024. We set the target of $600 million, as we said, Domenica, for 2028. We were very transparent to -- the market as well that if all the other applications on QuantiFERON are growing in a healthy way, we suffered the loss of 1 market, especially in the U.S. and in some countries in the Middle East, but mainly in the U.S., it's the immigrant mark. And we gave the market a very clear indication. We believe it's between $30 million, $35 million of impact. We still believe that because of the potential of new applications, not only with what we are launching today, but existing immediate opportunities thus testing for patients under dialysis, for example, extending the knowledge around, for example, the connection between diabetes patient and -- tuberculosis that we have ways to mitigate. But at the moment, let's execute on our target for this year, let's execute on coming back to growth with QunatiFERON in H2 and we'll come back with the appropriate target. What I keep in mind is that the market to convert is still significant. This market is still growing. It's a good market to be, and we have more and more solution to address it completely.

And yes, on the conversion rate of the market, we keep saying 40% already converted? What do we need to get this conversion rate above 50% and even higher? And how might new entrants impact this conversion dynamics.

Nadia, do you want to take it? -- if you want.

So on the conversion rate, it's a combination between our sales teams, our clinical demand teams, but also our medical teams. Because Thierry just mentioned that there is new groups of patients that have the possibility to be tested. And this is really where our medical affairs does a huge soda. So our teams have strict criteria. We follow up. We go to patients, and we continue repeating the same message. Key message, if you want to convert a skin best to a blood-based IGRA test is, everybody who's BCG-vaccinated will quite often be false positive -- in test. So you can't really deal with it. Secondly, when you do a skin test, people need to come back twice. So these are the messages that we continue seeing and we see year after year that a big part of the market is shifting. Some parts of the market have almost shifted 100%. If you look to biologics. Biologics is almost using blood-based IGRA test and QuantiFERON test for all of their patients. If there is a new company coming into the market, this new company together with us, can move the 75 million that is today the market of latent TB up to 80 million, up to 90 million because Thierry just said, there's 2 billion people with latent TB. So the number of 75 million is much higher because in some countries, now that everybody has tested.

In addition to that, I would like to add that back in 2016, when we deliberately choose DiaSorin as a partner, it was a very forth, well for choice. DiaSorin is not just an immunoassay company. Talasorin is a leading company in esoteric added value medical test. Their salespeople like Qiagen salespeople, they are used to spend 5, 6, 7 visits to convert to customers. We like it or not. Health care is very prone to innovation, but sometimes there is a lot of conservatism. So for example, in the U.S., we exactly -- we have a tool, a marketing tool, and discuss that with the market over the last 3 years. We have a marketing tool, enabling us to know by ZIP code where the remaining skin test customers are -- and then once we have the information, we look at what kind of population are they basically serving immuno conference and we try to convert them. But it takes some time up to 6, 7. It's fair to say that it takes on average 7 visits to convert not because they are not convinced, they are, but because they are comfortable with the way it works. My technicians are trained, and little by little, you go to medical value, you go to cost efficiency and they move to you. That's a natural movement, but it takes time. It takes time. It takes medical and it takes experience and mindset. This is why DiaSorin was not just an option among it was the option to partner efficiently with us.

Let me bundle a couple of questions on the Inpeco system. So that's moving again. So where do you find Inpeco systems and what type of labs? Are these new call points for QuantiFERON? Are there customers that have seen us? How is the response of customers?

So I quickly say I'm going to move to Riccardo because nobody can speak better about where Inpeco is in the world. But yes, obviously, the major labs in the world are all customers of QuantiFERON as we speak. And obviously, we have visited already some of them with a fantastic basically attention. They saw the workflow. They also suggested some improvement and its work ongoing, but it's very exciting to see the level of interest, the fact that they come back to us when is it going to be available? We already have customers saying, I want to be the first one to implement it. But Riccardo, what about the presence of Inpeco all over the world.

Yes. We are present almost in every country in the globe. We have currently around 3,000 automation tracks installed worldwide. But I think the important message is that, obviously, we are perceived as a company working in the high-end segment of the market. You mentioned the quest, the LabCore all the biggest labs across the globe have our automation. But 80% of our automations are in the smaller type of lumps. Because I was hearing Nadia loud and clear. Obviously, we are now targeting high-end segment, but there is a huge portion of the market that is not only looking just for efficiency gains, but we're also looking to really remove previous manual operations. So these kind of labs are really in a search in a quest for end-to-end automation. And this is where I see our partnership coming together. Global leader in lab automation, the global leader in tubercolosis, latent TB testing coming together with, as you said, the super performance analytical platform like the LIAISON from DiaSorin, I really think we are bringing something really impactful in the market. And we have a huge market target. As I said, 3,000 installations across the globe that can plug in this new solution. from our 3 companies.

Thanks, Riccardo.

And on the DSR and chemistry. So what is the feedback from customers? Are we seeing any faster adoption or transition to LIAISON. And how did this address any hesitation and conversion?

So we have given numbers today. Nadia can repeat them. And yes, the reception in Europe is very good, but we just got to prove to the FDA in the U.S. So we are currently introducing to the customers. But Nadia?

Yes. Thank you very much, Thierry. So the feedback of the customers is really overwhelming because we know it goes faster. We can -- we have a faster time to detection. We can do much more patients. And what is ongoing now is we're in a transition plan. This transition plan is really followed up extremely correctly. And we haven't really had 1 customer that was not pleased with the results of the CLIA2. So we are following the conversion plan, and we are convinced that it will be done on the timing that we have for some.

And now the last one for today. So the full automation workflow can it also be used with other latent TB tests blood-based latent TB test? Or is it really just available for QuantiFERON?

I think we did answer, but it's a good question. Obviously, it's a key question. We did answer Riccardo and I and Nitin said the word also about this. it's a purpose-built automation for QuantiFERON. I believe that if those partnerships want to be winning partnership, there needs to be a kind of call it exclusivity or call it special relation, but something very strong. Basically, we like the fact that Inpeco is so specialized into very precise automation. We like the fact that DiaSorin is so specialized into esoteric testing, and that makes that specialization and that depth of partnership because we all have skin in the game that makes this partnership potentially successful.

And with that, we are at the end. So any closing remarks.

No, I would like to take advantage of meeting being with us. He's heading our portfolio development to give his vision as a concluding words. And obviously, thank Riccardo, thank Paranpal. Thanks, Nadia. Thank you, Domenica, thank our IR team. But Riccardo, thanks a lot for being with us. And thanks also to DiaSorin -- if they are not with us today, we thank them for this partnership. Nitin?

Yes. Thank you, Thierry. So I hope what all of you saw in today's program is not just a product update. It's an ecosystem. That's what we are building, and we're building that from a position of strength. So 3 things. First, we're making the tests faster. 75% more testing to CLIA2. Number two, we're making the test fully automated, no manual steps. And number three, we're adding intelligence to the test on the basis of 13 million patient records that no one else on Earth has. That's ecosystem leadership. That's what today is all about. Thank you.

Thank you, Nitin. And with that, we are at the end of the spotlight session. Thank you for your participation. Hope to see you soon again. And if you have any remaining questions, please always feel free to contact us. Happy to help you. So see you then. Bye-bye.