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 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/
Chris Yates, Chief Executive Officer
Via Walbrook PR
Melanie Ross , Chief Financial Officer
Dr Chris Hand, Non-Executive Chairman
