RCS - EKF Diagnostics Hldg - Partnership secured with ABEC

EKF Diagnostics HoldingsAnnouncement

08/03/2022 07:00

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RNS Number : 9289D  EKF Diagnostics Holdings PLC  08 March 2022

EKF Diagnostics Holdings plc

("EKF", the "Company" or the "Group")

 

Partnership secured with ABEC to support US biomanufacturing expansion

Additional enzyme production capacity to accelerate EKF's organic growth
strategy

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global diagnostics
business, announces that EKF Life Sciences, a division of EKF which
manufactures diagnostics enzymes and contracted custom products for use in
medical diagnostics, pharmaceutical and industry, has signed a  partnership
agreement (the "Agreement") with ABEC, Inc ("ABEC"), a leading global provider
of engineered solutions and services for biotech manufacturing.

 

The Agreement provides EKF Life Sciences' South Bend, Indiana facility with
customised, large-scale bioprocess equipment and will include a 14,500 litre
total volume stainless steel fermenter and an 8,000 litre media preparation
system. This will significantly enhance EKF's production capacity of enzymes
used in a variety of diagnostic and Life Science applications, and is a
positive progression of the Group's strategy of investment to drive organic
growth through the expansion of EKF Life Science's fermentation capabilities.

 

ABEC has over 45 years of experience in large-scale fermenter design and
complete in-house engineering and manufacturing capabilities. ABEC will
provide engineering services for EKF's new fermentation facility to ensure
optimal process performance and seamless facility integration. The 14,500
litre fermenter will feature ABEC's patented internal cooling panels, which
will enable efficient sanitation, optimal heat removal and the highest
possible fermenter productivity.

 

Scott Pickering, ABEC CEO and Chairman, said: "ABEC's innovative technologies
and complete turnkey solutions are unique in the industry. We look forward to
continuing to support EKF's expansion and growth."

 

Mike Salter, CEO of EKF Diagnostics, said: "EKF Life Sciences is dedicated to
developing new products and capabilities that best serve the in vitro
diagnostic market on a global scale. The partnership with ABEC is another
important step in accelerating our organic growth strategy. Their innovative
equipment and resources will enable us to quickly deliver our specific
manufacturing requirements and we look forward to working with them as we
continue to expand our biomanufacturing capabilities and capacity."

 

 

 

 EKF Diagnostics Holdings plc                                  www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Christopher Mills, Non-Executive Chairman                      Tel: +44 (0)29 2071 0570
 Mike Salter, CEO
 Marc Davies, CFO

 Singer Capital Markets (Nominated Adviser & Joint Broker)                                   Tel: +44 (0)20 7496 3000
 Aubrey Powell / George Tzimas / Tom Salvesen

 Investec Bank plc (Joint Broker)                              Tel: +44 (0)20 7597 4000
 Gary Clarence / Daniel Adams / Ben Farrow

 Walbrook PR Limited               Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Lianne Applegarth  Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303

 

 

 

 

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com
(http://www.ekfdiagnostics.com) )

EKF is a leading point-of-care diagnostics and central laboratory assay
manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose
and lactate analysers in regular use across more than 100 countries. EKF
specialises in developing tests for use in anemia and diabetes diagnosis and
management, as well as providing a portfolio of reagents for use in clinical
chemistry analysers.

 

EKF specialises in the development, production and worldwide distribution of
point-of-care analyzers and clinical chemistry reagents for use in hospital
and research laboratories, doctor's offices, blood banks and for in-field
anaemia screening programmes. EKF is also a bulk manufacturer of enzymes and
has custom manufacturing facilities across sites in the US, UK and Europe for
a variety of life science products. Driven by customer demand EKF has invested
significantly in increasing the Company's fermentation capacity. The Company's
capabilities and capacity in contract manufacturing for sample collection,
tests and test kits have seen dramatic growth following strong demand for
during the COVID-19 pandemic, and these income streams are now being
diversified for application to other non-COVID areas of diagnostic testing,
molecular disease and forensic test manufacture.

 

In May 2021, EKF outlined its strategy through to 2024 for delivering
additional growth. As well as the growth expected in Contract Manufacturing
across Life Sciences, molecular diagnostics and other applications, the
Company expects to leverage existing distribution channels for organic growth,
both in the core business and from additional products to expand the core
range, but also through executing earnings enhancing acquisitions and
delivering further value creating investments associated with the preferred
partnership agreement with Mount Sinai Innovation Partners.

 

In October 2021, EKF completed the acquisition of Advanced Diagnostic
Laboratory LLC, a Texas based testing laboratory certified under the Clinical
Laboratory Improvement Amendments ("CLIA") for high complexity testing. The
laboratory provides testing for a variety of clinical, forensic and
microbiological sample types using a range of analytical techniques. This
acquisition positions EKF as a leading 'one stop' provider of diagnostic
products and services from sample collection to results.

 

About EKF Life Sciences (https://www.ekfdiagnostics.com/life-sciences.html)

EKF Life Sciences (https://www.ekfdiagnostics.com/life-sciences.html) has been
manufacturing enzymes and related biomolecules from bacterial fermentation for
use in IVD since 1983.  Since then, it has developed core competencies in
technology transfer to commercialization, and the scale up of fermentation
processes from bench top vessels to manufacturing large scale stable and
reliable enzymes. These enzymes can be consistently produced in bulk scale
for mass production of test kits.

With the continued development of microbial expression platforms and the
expanding interest in medical and industrial applications for biologically
produced intermediates and products, EKF Life Sciences serves as a critical
link in the evolution of improved and environmentally sensitive manufacturing
processes.

 

About ABEC (https://www.abec.com/ (https://www.abec.com/) )

Since 1974, ABEC has been a global leader in delivering engineered process
solutions and services for manufacturing in the biotech industry.
A majority of the world's pharmaceutical and biotech companies
are ABEC customers; with many of today's leading therapies manufactured
by processes and equipment engineered, manufactured,
installed and serviced by ABEC. ABEC's unique value is based
on long experience, complete in-house capabilities, a
custom, flexible approach, and long-term credibility. Whether adding
capacity or improving existing facilities, ABEC's turn-key solutions
and support services reduce overall cost and time to market while
delivering maximum productivity.

 

 

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