Abingdon Health lands £4.8m lateral‑flow diagnostics contracts

(Sharecast News) - Rapid diagnostic tests business Abingdon Health has been awarded a series of "significant contracts" with a USA-based customer to develop, and scale up to manufacture several multiplex quantitative lateral flow assay systems measuring multiple biomarkers simultaneously in human samples. Abingdon said on Monday that the contracts - which include full programme management, the management of regulatory processes, and analytical and clinical performance services - had a total value of approximately £4.8m based on the agreed scope of work and will be delivered over a roughly 27-month period, commencing immediately.

The AIM-listed firm said the contracts would be executed via a series of work packages based on agreed milestones, with potential further scope beyond that period including appointment as legal manufacturer.

"The contracts represent an important validation of Abingdon Health's full programme management CDMO service which offers development from feasibility and initial regulatory pathway provision through to product manufacture and multi-territory regulatory approvals," said Abingdon Health. "It underscores Abingdon Health's position as a leading provider of integrated CDMO/CRO services for rapid diagnostic tests and med-tech."

As of 1055 BST, Abingdon Health shares were up 13.6% at 8.24p.









Reporting by Iain Gilbert at Sharecast.com

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