Avacta Group Share News (AVCT)

(Sharecast News) - Diagnostics and cancer therapies developer Avacta Group has entered into a non-exclusive distribution agreement with life science products company Calibre Scientific, it announced on Monday, for its 'AffiDX' SARS-CoV-2 antigen lateral flow test for professional use in the UK and the European Economic Area (EEA).
The AIM-traded firm described Calibre as a "diversified global provider" of life science products to the diagnostics, healthcare, research, industrial, and biopharmaceutical communities.

Based in Los Angeles, California, it said Calibre had a "global reach" to more than 100 countries across a range of verticals and geographies.

The non-exclusive distribution agreement for the AffiDX SARS-CoV-2 antigen lateral flow test for Covid-19, for professional use, covered the UK and the EEA.

Avacta said the test would be listed on Calibre's website, and available to be purchased by professional users.

"As a high quality, global distributor of diagnostics and life science products with excellent links to our target markets, we are confident Calibre is well placed to support our penetration of the professional end use market in the UK and the EEA," said chief executive officer Dr Alastair Smith.

"Avacta will continue to focus on developing direct sales opportunities to major corporates and other large scale end users."

Dr Smith said the company was also in discussion with potential customers in territories outside the UK and the EEA, including the Asia-Pacific region, where additional regulatory approvals required beyond CE-marking were minimal.

"Lateral flow tests have a crucial role to play in helping societies and the global economy return to normal, and Avacta's AffiDX antigen test, developed in the UK and based on UK technology is well placed to play a significant role in this process."

At 0858 BST, shares in Avacta Group were down 6.1% at 200.75p.