Universal Biosensors enjoyed its best one-day surge in seven months on Friday after it revealed that it had secured a collaboration agreement with Siemens Healthcare Diagnostics to develop and commercial products aimed at the point-of-care coagulation testing market. The company estimates that this market is worth more than $750 million and will receive an initial technology access fee of $US3 million ($2.9 million). Universal Biosensors will also get six milestone payments relating to feasibility, regulatory submissions and launch of the products under development. Management said the payments are confidential to Siemens. The stock jumped 11.1 per cent on the news to a more than one-month high of $1 but the illiquid stock has not traded since the end of last week. The biotech is not expected to post a profit until 2012-13 and brokers polled on Bloomberg are recommending it as a “buy" with an average price target of $2.23 a share.