RE: LFT -Not dropped6 Apr 2022 09:32
Beinthelead...sorry, I wasn't disagreeing with you. I too hope one or more come to market soon. I also know they have been banging on about this for some time but the mere fact they are still banging on hopefully gives an indication that there is now a greater push especially with the knowledge and approvals they have gained over the past couple of years with the Covid LFT...which is what they state in the first para:
'Prior to the COVID pandemic the Company had a business model focused on providing Affimer® reagents to third parties to power their diagnostic and other products. Avacta's Diagnostics Division has used the opportunity offered by a response to the pandemic to establish a fully integrated IVD product development capability and put in place a Quality Management System that complies with the essential diagnostics market standard of ISO13485.
This has transformed the opportunity for the Diagnostics Division which is now focused on developing a pipeline of new IVD products outside of COVID-19 to drive future revenues and the profitability of the Division.'
They go on to mention the Biokit Licence Agreement which was only entered into March last year and I don't think the significance was fully appreciated at the time:
'During the year the Company also entered into a licence agreement with Biokit, a Werfen Company, to incorporate Affimer® reagents into a Biokit IVD product. Biokit is recognised and renowned as a Centre of Excellence with consolidated experience worldwide in research, development and manufacturing of assays and biomaterial solutions for IVD use.
;The licence agreement follows an extensive evaluation by Biokit of certain Affimer® reagents to detect a key analyte. Under the terms of the agreement, Biokit has the right to develop, manufacture and commercialise through original equipment manufacturer (OEM) partners a diagnostic immunoassay for this analyte. Avacta will receive royalties on future sales of any products brought to market following completion of product development and regulatory approvals. Financial details of the agreement were not disclosed.'
Lateral flow tests are a simple device intended to detect the presence (or absence) of a target analyte in a sample.
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