Abingdon Health PLC DeepVerge Testing Services Framework Agreement
30 May 2022 - 4:01PM
RNS Non-Regulatory
TIDMABDX
Abingdon Health PLC
30 May 2022
Abingdon Health plc
("Abingdon" or the "Company")
DeepVerge Testing Services Framework Agreement
York, U.K. 30 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 Testing
Services Framework Agreement ("Agreement") with DeepVerge plc
("DeepVerge"), for the development and manufacture of a range of
lateral flow tests ("LFTs") for DeepVerge's Modern Water and Life
Science divisions.
DeepVerge (AIM: DVRG) is an environmental and life science group
that develops and applies AI and IoT technology for the analysis
and identification of bacteria, viruses and toxins. The agreement
follows on from the strategic collaboration announcement made on 29
March 2022.
In the first instance Abingdon and DeepVerge will work on the
development of LFT devices for DeepVerge's Modern Water division to
detect dangerous pathogens and chemicals in household drinking and
wastewater, as well as Environmental LFT tests covering acrylamide,
microcystins, and algae. In due course, Abingdon and DeepVerge will
also collaborate on the development of new lateral flow tests to be
added to DeepVerge's life science home test portfolio, including
hormone analysis related to menopause and associated skin changes
and other health markers. DeepVerge will fund the development cost
of the projects being undertaken and Abingdon will be exclusive
manufacturer of the products developed and subsequently transferred
into manufacturing.
Gerard Brandon, CEO of DeepVerge plc, commented:
"Leveraging the skillsets between DeepVerge and Abingdon to
produce a range of new LFT tests, in such a short period of time,
for the environmental and human health sectors is an example of the
creative and adaptable skillsets that exist within the UK
diagnostics industry. DeepVerge Group are looking forward to add
these innovative new LFT units, produced entirely in the UK, to our
60+ country distribution channels in early 2023.
Chris Yates, CEO of Abingdon Health plc, commented:
"We are pleased to have signed this commercial agreement with
DeepVerge. This strategic partnership will allow both companies to
build a long-term collaboration to enable DeepVerge to leverage
Abingdon's lateral flow development and manufacturing engine to
launch a range of innovate tests into its core markets. This
agreement underlines Abingdon's reputation as a knowledge leader
and expert in the rapidly growing lateral flow testing market".
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
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