TIDMDVRG TIDMABDX
RNS Number : 3127G
Deepverge PLC
29 March 2022
29 March 2022
DeepVerge PLC
("DeepVerge" or "the Company" or "the Group")
DeepVerge and Abingdon Health plc sign MoU for Commercial
Agreement for Lateral Flow Tests in Modern Water Household
Devices
Life Science Portfolio Enlarged with Wellness Range of Lateral
Flow Tests
DeepVerge plc (AIM: DVRG), announces that it has signed a
Memorandum of Understanding ("MoU") with Abingdon Health plc
("Abingdon") leading to a Commercial Agreement for development and
manufacture of a range of Lateral Flow Tests ("LFT") for the Modern
Water, Labskin and Skin Trust Medical divisions of the Group.
Integrating LFT technology into a Modern Water hand held test
device for households:
The LFT analogue devices detect dangerous pathogens and
chemicals in household drinking and wastewater. This adds an extra
layer of detection to the Modern Water range of equipment and
services by incorporating a LFT into a hand held mobile unit. The
results can be digitally scanned using a mobile App with the
potential to incorporate Abingdon's proprietary AppDx (R)
technology.
DeepVerge has distribution channels in more than 60 countries
and this has the potential to play a key role in the identification
of the source of localised hotspots of a range of pathogens in
drinking and wastewater at household level. Authorities can be
alerted through Modern Water's Live alert system to prevent the
spread of the disease or contamination to the wider community.
Future developments for water testing that are complementary to
the current Modern Water portfolio include the Pepper Mottle Mosaic
Virus [i] as a potential marker for human faecal matter in water
and the automated multiplexing project bringing in Influenza A [ii]
, influenza B [iii] , Cryptosporidium iv etc. into the testing
format on a hand-held device.
Extending Life Science Wellness testing:
In parallel with the current development of the Microtox(R) BT
(breath test), new complementary lateral flow tests are to be added
to the life science home test portfolio including hormone analysis
(menopause and the skin changes during this time), stress levels
(cortisol), vitamin D (possibly other vitamins linking into the
supplement recommendations), and other health markers including
diabetes, heart and liver function.
The MoU has been signed to enable the potential integration of
the respective technologies of both DeepVerge and Abingdon
technology platforms. DeepVerge and the Abingdon will enter into a
longer-term Commercial Agreement, with Abingdon manufacturing and
DeepVerge commercialising these exciting new products through its
production, sales, marketing and distribution channel partners
around the world.
MoU
The key terms of the MoU (non-binding) are as follows:
- signing of a commercial agreement anticipated by the end of April 2022;
- End Products covering (i) transfer of some of the current
Modern Water assays into LFT format; (ii) developments for water
testing and (iii) wellness testing to complement the Skin Trust
Club test portfolio;
- Abingdon shall grant to DeepVerge a non-exclusive, royalty
bearing, non-assignable sub-licensable irrevocable, worldwide
licence to use the Abingdon technology for the purpose of using the
Materials as a component in the End Products only;
- The Company shall pay single digit percentage royalties to be
agreed on Net Sales of the End Product.
Gerard Brandon CEO DeepVerge plc, commented:
"DeepVerge's business model is built on collaborating and
cooperating with partners such as Abingdon Health who have
technologies and large production capacity to deliver solutions to
major societal problems such as water contamination and the
identification of human biomarkers for a range of health
conditions. Surveillance and testing of waterways for the presence
of bacteria and viruses has gained worldwide recognition and this
collaboration is yet another example of the diagnostics industry
working together to rapidly bring effective solutions in the
increasing global health risks."
Chris Yates, CEO of Abingdon Health plc, commented:
"We are delighted to be working with the DeepVerge team to
deliver a range of lateral flow tests that have been shown to have
the ability to capture the SARS-CoV-2 virus and transform this
technology into a household water and wastewater detection device
for a range of dangerous pathogens. Our facilities in the UK have a
large capacity and we are excited to be able to play a key role in
the prevention of the spread of a range of diseases in the
home."
What is a lateral flow immunoassay?
A lateral flow test, or immunoassay is a simple to use
diagnostic device used to confirm the presence or absence of a
target analyte, such as pathogens or biomarkers in humans or
animals, or contaminants in water supplies, foodstuffs, or animal
feeds. The most commonly known type of lateral flow rapid test
strip is the pregnancy test or testing the presence of the COVID-19
virus.
+44 (0) 7340 055
Integumen plc Gerard Brandon, CEO 648
SPARK Advisory Partners Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
--------------------- -----------------
Turner Pope Investments (TPI) Andy Thacker/James +44 (0) 20 3657
Limited (Broker) Pope 0050
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Market Abuse Regulation (MAR) Disclosure
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
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About DeepVerge plc (www.deepverge.com)
DeepVerge is an environmental and life science group of
companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins; Utilising artificial intelligent data
analytics to scientifically prove the impact of skincare product
claims on skin
About Abingdon Health plc (www.abingdonhealth.com)
Abingdon Health is a world leading developer and manufacturer of
high-quality rapid tests across all industry sectors, including
healthcare and COVID-19. Abingdon is the partner of choice for a
growing global customer base and takes projects from initial
concept through to routine and large-scale manufacturing and has
also developed and marketed its own labelled tests.
The Company offers product development, regulatory support,
technology transfer and manufacturing services for customers
looking to develop new assays or transfer existing laboratory-based
assays to a lateral flow format. Abingdon Health aims to support
the increase in need for rapid results across many industries and
locations and produces lateral flow tests in areas such as
infectious disease, clinical testing including companion
diagnostics, animal health and environmental testing. Faster access
to results allows for rapid decision making, targeted intervention
and can support better outcomes. This ability has a significant
role to play in improving life across the world. To support this
aim Abingdon Health has also developed AppDx(R), a customisable
image capturing technology that transforms a smartphone into a
self-sufficient, standalone lateral-flow reader.
Founded in 2008, Abingdon Health is headquartered in York,
England.
[i] Pepper mild mottle virus: In an article from the Applied and
Environmental Microbiology Journal, it was found that PMMoV could
be a potential indicator of faecal pollution. Their results
demonstrate that PMMoV is widespread and abundant in wastewater
from the United States , suggesting the utility of this virus as an
indicator of human faecal pollution.
https://en.wikipedia.org/wiki/Pepper_mild_mottle_virus
[ii] Influenza A virus causes influenza in birds and some
mammals and is the only species of the genus Alphainfluenzavirus of
the virus family Orthomyxoviridae. Strains of all subtypes of
influenza A virus have been isolated from wild birds, although
disease is uncommon. Some isolates of influenza A virus cause
severe disease both in domestic poultry and, rarely, in humans.
Occasionally, viruses are transmitted from wild aquatic birds to
domestic poultry, and this may cause an outbreak or give rise to
human influenza pandemics.
[iii] Influenza B virus is known only to infect humans and
seals. This limited host range is apparently responsible for the
lack of associated influenza pandemics in contrast with those
caused by the morphologically similar influenza A virus as both
mutate by both antigenic drift and reassortment
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END
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