REG - Abingdon Health PLC - AGM Statement

Abingdon HealthAnnouncement

19/12/2022 07:00

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RNS Number : 0561K  Abingdon Health PLC  19 December 2022

Abingdon Health plc

("Abingdon Health", the "Group" or the "Company")

 

AGM Statement

 

York, U.K. 19 December 2022: Abingdon Health plc (AIM: ABDX), a leading
international developer and manufacturer of high quality, rapid diagnostic
tests, will hold its Annual General Meeting at 9.30 a.m. today at the offices
of Abingdon Health, York Biotech Campus, Sand Hutton, York, YO41 1LZ.

 

Chris Yates, Chief Executive Officer, will address the meeting with the
following statement:

"We updated shareholders recently with the announcement of our preliminary
results for the year ended 30 June 2022. In those statements we outlined the
strategic focus we now have on our Contract Development and Manufacturing
("CDMO") services, given the anticipated growth in demand we expect to see
within the lateral flow market, particularly in non-COVID-19 sectors such as
human health, animal health, plant pathogen and environmental testing.

 

"Our outlook going into 2023 is unchanged, and we remain confident that our
contract services customer base and current growing pipeline mean we are well
positioned to grow our business. We are also reassured by our cash levels of
£4.4m as at 19 December 2022, in line with the cash position as at the end of
October 2022 and expect to have circa £4.3m cash at the end of December. The
Board remains confident that we have sufficient cash resources to fund
progress beyond the next 12 months, with our priority being to move the
Company to a positive cash flow position."

 

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
 Chris Hand, Non-Executive Chairman

 Singer Capital Markets (Sole Broker and Nominated Adviser)       Tel: +44 (0)20 7496 3000
 Peter Steel, Alex Bond, Sam Butcher

 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 984 082

 Alice Woodings                   +44 (0)7407 804 654

 

About Abingdon Health plc - www.abingdonhealth.com
(http://www.abingdonhealth.com)

 

Abingdon Health is a world leading developer and manufacturer of
high-quality lateral flow rapid tests
(https://www.abingdonhealth.com/services/)  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.

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