REG - Abingdon Health PLC - Outcome of Judicial Review

Abingdon HealthAnnouncement

07/10/2022 15:30

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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 £10.3m (including £5.4m
to cover reimbursement of stock and £0.2m in interest). This does not include
a final £1.5m 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 £11.8m (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/ (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 (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                   +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
(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.

 

For more information visit: www.abingdonhealth.com
(http://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.

 

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