Finalización del congelamiento del diseño y asociación estratégica
Abingdon salud plc
("Abingdon" o "la Compañía")
Four sexually transmitted disease lateral flow self-tests complete design freeze.
Exclusive global manufacturing plus UK and European distribution rights via strategic partnership with USA-based Find Out From Home LLC.
York, U.K. 25 March 2024: Abingdon Health plc (AIM: ABDX), a leading international lateral flow contract development and manufacturing organization (CDMO), announces the completion of 'design freeze' for four sexually transmitted disease self-tests via a CDMO contract (the "Proyecto") on behalf of its customer, Devyn LLC ("Devyn").
Further to the above, Abingdon announces that it has entered into a strategic partnership with Find Out From Home LLC ("Descubrir"), a subsidiary of Devyn, via a service for equity agreement (the "Agreement").
Destacados:
· LFDs for self-test use for HIV, Hepatitis B, Hepatitis C and Syphilis have completed design freeze.
· Abingdon will continue to provide regulatory and technical transfer CDMO services to Find Out throughout H2-FY24.
· As part of the strategic partnership agreement, Abingdon will take a significant minority equity stake in Find Out.
· Following provision by Abingdon of CRO and CDMO services over the past twelve months the initial four products are now at design freeze and ready for transfer to manufacture.
· Abingdon will be the exclusive manufacturer and regulatory partner for these products.
· Abingdon will lead distribution of these products in UK and Europe, via current and new routes to market, with rights to provide these products to retailers in own brand format.
Antecedentes
Abingdon has been providing CRO and CDMO contract services to Find Out From Home for the past twelve months and four of the five STD lateral flow tests have now reached design freeze stage, with 1 additional test to follow in due course. As part of the strategic partnership Abingdon will provide exclusive CDMO services to Find Out, including becoming exclusive manufacturer and regulatory partner, and will also lead the distribution of these innovative products in Europe.
Mercado objetivo
The global sexually transmitted disease testing market size is predicted to grow at a CAGR of over ~6% from 2023 to 2035(1). The market is projected to grow to $145 billion by the end of 2035, up from a revenue of $95 billion in the year 2022. Rising cases of sexually transmitted diseases (STDs) in the young adult population, subsequent unsafe sex, and declining awareness of safe sex among young adults are expected to increase transmission of the disease.
El acuerdo
Abingdon has signed an Agreement whereby it will invest, over time, the equivalent of up to £500k in fees due to Abingdon from Find Out as consideration ("Consideración"). In exchange, Abingdon will acquire, a prorrata to the Consideration invested, equity ownership in Find Out of up to 23%.
Chris Yates, CEO of Abingdon, will become a director of Find Out upon Abingdon becoming a shareholder.
Find Out is a newly formed entity in which Devyn is currently a 100% shareholder. Find Out has not yet completed a reporting period meaning there are no profits or net assets reported within the entity. Since its incorporation, assets including intellectual property, have been transferred to Find Out from Devyn.
Chris Yates, director ejecutivo de Abingdon Health plc, comentó: "We are delighted to announce the strategic partnership with Find Out From Home. We have been working with the team at Find Out for the past year and are pleased that the initial set of four STD lateral flow tests have now reached design freeze. We look forward to deepening our partnership with Find Out going forward and ultimately launching these rapid STD tests into the European market. We believe there is a significant unmet need for accurate, user-friendly STD lateral flow tests and this partnership underlines our approach in supporting customers on bringing innovative lateral flow tests from "idea to commercial success".
Yannick Namia, CEO of Find Out From Home LLC., commented:
"Our vision to make testing for STDs easy and affordable to everyone is coming to fruition through our partnership with Abingdon Health. Our first test kits will hit the market in Europe and we plan to deepen this partnership with other markets and other types of test in the future."
(1) Sexually Transmitted Disease Testing Market revenue to exceed USD 145 Billion by 2033, says Research Nester (yahoo.com)
Consultas
Abingdon salud plc | www.abingdonhealth.com/investors/ |
chris yates, Director General |
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chris mano, Presidente no ejecutivo |
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Singer Capital Markets (Único Broker y asesor designado) | Tel.: +44 (0) 20 7496 3000 |
tom salvesen pedro acero alex enlace Jalini Kalaravy |
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Más información
Acerca de Abingdon Health plc
Abingdon Health is a leading lateral flow contract development and manufacturing organisation (CDMO) offering its services to an international customer base across industry sectors that include clinical, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."
La división CDMO de la compañía ofrece desarrollo de productos, soporte regulatorio, transferencia de tecnología y servicios de fabricación para clientes que buscan desarrollar nuevos ensayos o transferir ensayos de laboratorio existentes a un formato de flujo lateral. Abingdon Health tiene como objetivo respaldar la creciente necesidad de resultados rápidos en muchas industrias y ubicaciones y produce pruebas de flujo lateral en áreas como enfermedades infecciosas, pruebas clínicas que incluyen diagnósticos complementarios, salud animal y pruebas ambientales. Un acceso más rápido a los resultados permite una rápida toma de decisiones, una intervención específica y puede respaldar mejores resultados.
La gama de autopruebas Abingdon Simply Test de Abingdon Health es una plataforma de comercio electrónico que ofrece una gama de autopruebas para permitir a los consumidores gestionar su propia salud y bienestar. El Prueba simple de Abingdon El sitio de comercio electrónico ofrece a los consumidores una variedad de información para ayudarlos a tomar decisiones informadas sobre las pruebas disponibles. Además, el sitio proporciona a los clientes de servicios por contrato de Abingdon una ruta potencial de comercialización para realizar autopruebas. La gama Abingdon Simply Test también se vende a través de distribuidores internacionales y de otros canales en el Reino Unido e Irlanda, como cadenas de farmacias.
Abingdon Health, fundada en 2008, tiene su sede en York, Inglaterra.
Para más información visite: www.abingdonhealth.com
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