RCS - Abingdon Health PLC - DeepVerge Testing Services Framework Agreement

Abingdon HealthAnnouncement

30/05/2022 07:15

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RNS Number : 1644N  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
(https://www.londonstockexchange.com/news-article/ABDX/strategic-collaboration-with-deepverge-plc/15387671)
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/ (http://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 Nominated Adviser)                          Tel: +44 (0)20 7496 3000
 Peter Steel, Alex Bond (Corporate Finance)
 Tom Salvesen (Corporate Broking)

 Walbrook PR Limited                                    Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com
                                                        (mailto:abingdon@walbrookpr.com)
 Paul McManus / Phillip Marriage  Mob: +44 (0)7980 541 893 / +44 (0)7867 984 082
 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(®), 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
(http://www.abingdonhealth.com/)

 

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