Abingdon Health PLC Outcome of Judicial Review (2272C)
08 October 2022 - 1:29AM
UK Regulatory
TIDMABDX
RNS Number : 2272C
Abingdon Health PLC
07 October 2022
Abingdon Health plc
("Abingdon Health" or "the Company")
Outcome of Judicial Review
All claims brought by GLP dismissed
York, U.K. 7 October 2022: Abingdon Health plc (AIM: ABDX), a
leading international developer and manufacturer of high quality,
rapid diagnostic tests, notes the judgement by Mr Justice Waksman
in relation to the Judicial Review proceedings initiated by the
Good Law Project Limited ("GLP") against the Secretary of State for
Health and Social Care ("DHSC") in which Abingdon Health is an
interested party. Mr Justice Waksman has ruled in favour of the
DHSC on all grounds, including lack of state aid to Abingdon Health
and dismissed all claims brought by the GLP.
The judgement confirms that contract award decisions by the DHSC
for the development and manufacture of lateral flow test kits for
COVID-19 antibodies by Abingdon Health were lawful and complied
with the principles of public law. All grounds brought by the GLP
in this case were dismissed.
The monies received under these contracts totalled GBP10.3m
(including GBP5.4m to cover reimbursement of stock and GBP0.2m in
interest). This does not include a final GBP1.5m cash payment from
the DHSC, currently held under charge until the outcome of the
judicial review, that is now expected to be released, bringing the
total amount paid to Abingdon by the DHSC to GBP11.8m (all amounts
quoted exclude VAT).
Abingdon Health will release a further statement following
consideration of the full judgement.
Enquiries
Abingdon Health plc www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer Via Walbrook PR
Melanie Ross , Chief Financial Officer
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 Marriage Mob: +44 (0)7980 541 893 / +44 (0)7867
Alice Woodings 984 082
+44 (0)7407 804 654
About Abingdon Health plc
Abingdon Health is a world leading developer and manufacturer of
high-quality lateral flow 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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