Abingdon Health PLC Significant contract to manufacture LFD components (6783L)
17 May 2022 - 4:00PM
UK Regulatory
TIDMABDX
RNS Number : 6783L
Abingdon Health PLC
17 May 2022
Abingdon Health plc
("Abingdon" or the "Company")
Significant contract signed to manufacture lateral flow device
components
Initial phase worth a minimum of GBP2.7 million for the first
year
York, U.K. 17 May 2022: Abingdon Health plc (AIM: ABDX), a
leading international developer and manufacturer of high quality
and effective rapid tests, announces that it has signed a
significant contract with a European customer for the manufacture
of lateral flow device (LFD) components for a COVID-19 antigen
test.
The contract is for an initial period of 12 months with an
option to extend and will commence with the primary production of
the key biochemical-sprayed nitrocellulose component of the LFD.
There is also an option to expand to other aspects of device
manufacture including production and lamination of other membrane
components and ultimately production of complete foiled
devices.
The contract is with a European customer with the initial phase
worth a minimum of GBP2.7m (based on minimum specified monthly
order quantities and pricing at current GBP/USD exchange rates) for
the first year. All raw materials required for production will be
provided by the customer. There will be an initial technical
transfer process, paid for by the customer, which is anticipated to
take approximately two months.
Abingdon continues to make commercial progress in other areas
and will update the market in due course.
Chris Yates, CEO of Abingdon Health plc, commented: "We are
pleased to have signed this contract with our European partner. The
contract highlights the strengths of Abingdon's flexibility in
being able to offer a range of first-class contract services across
primary and secondary production. We continue to make commercial
progress in other areas and look forward to updating the market in
due course."
Enquiries:
Abingdon Health plc www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer Via Walbrook PR
Melanie Ross , Chief Financial Officer
Dr Chris Hand, Non-Executive Chairman
Singer Capital Markets (Sole Broker and Tel: +44 (0)20 7496 3000
Nominated Adviser)
Peter Steel, Alex Bond (Corporate Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
Paul McManus / Phillip Mob: +44 (0)7980 541 893 / +44 (0)7867 984
Marriage 082
Alice Woodings Mob: +44 (0)7407 804 654
About Abingdon Health plc
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.
For more information visit: www.abingdonhealth.com
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement
via the Regulatory Information Service, this inside information is
now considered to be in the public domain.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTEAKSKFAAAEFA
(END) Dow Jones Newswires
May 17, 2022 02:00 ET (06:00 GMT)
Abingdon Health (LSE:ABDX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abingdon Health (LSE:ABDX)
Historical Stock Chart
From Apr 2023 to Apr 2024