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Exactly. You can target the 'scope' of the audit, but if you're not covering the sales dept, the support dept, the hosting, the infrastructure etc just to try and achieve it quicker then its completely pointless, and any govt body who WILL check, will see right through it, know you're playing games and tell you to do one. Then they'll look at avacta who are promoted as their main partner and assume they're a bunch of cowboys too, there goes not only any hope of getting the covid test out there, but would damage reputation for the cancer therapies and other developments.

I've come to the same conclusion. Absolute amateur outfit.

I don't think you have a clue what ISO 27001 actually is... You don't just 'buy' it like a ****ing mars bar

First off, I am quite heavily invested here, not paid so much attention to the distribution side of things until recently, but theres a few queries or doubts I think need clearing up, the answers to some I may have missed from past topics or RNS.

Medusa seem to have sole rights to sell to customers. Why would avacta choose a brand new company with no infrastructure in place? Also as there hasn't been a single covid test - and I include antibody in that - that can be sold directly to private individuals in the UK, are medusa just naive, is this an agreement just to get shareholders excited?

Saturn pass - incorporated in June this year - are promoted as an app and technology platform, and on the medusa site, they are promoted as having ISO27001 (http://wordpress.ecomalpha.uk/). For those that don't know what that is, its an international standard which sets out certain requirements and processes for data security, how companies abide by those standards, how they apply continuous improvement. Its a huge complex standard, very expensive both time and financially. The company I work with achieved the standard a couple of years ago, took approx 18 months and £200k+, and this was with the help of an ISO specialist and regular audits by BSI. Medusa think saturnpass have achieved it in 2 months? Impossible.

If a private company wanted to convince the govt that they're abiding by the best data security principles, ISO27001 or cyber security essentials is a must. What I'm saying is, if avacta are pinning hopes on selling to consumers via medusa and this passport scheme, and the company must have certain security standards in place, documented, audited, then this is 12-18 months work for a company that has been up and running. For a brand new company, extend this to 24 months. The UK govt with the threat of GDPR will never allow a company to be at the forefront of a public passport scheme without the right credentials. I just hope this exclusivity clause doesn't bite us in the arse. I'm hoping that Al also knows this and has contingency plans....

However, may be a moot point if uk govt won't authorise home use of test kits anyway, perhaps selling abroad will be the market, and in any event I think selling to businesses will be the bigger market, test their own employees, offset cost against tax

Well for comparison, the anti body test by Surescreen diagnostics is 91.8% sensitivity, and 99.2% specifity, 97.8% accuracy.
Thats a stab your finger jobby

A shoddy, half finished, error strewn wordpress website doesn't exactly inspire confidence, I'd be livid if I were Al.

So we have avactas antigen test. An antibody test which I presume will be part of this health passport thing that Saturn are developing.

I reckon medusa life sciences and esp agile life sciences have been setup to take advantage of research and development tax laws. Trying to find more info about this Peter whitehurst guy.

Look, we won't be getting an RNS till mid September. If you don't like that, sell and buy in to Avacta who release an RNS every week, not that the last 3 or 4 have helped the SP.

We know we're selling, have several big contracts and now have the US as a market, we'll find out if we have any govt tenders (unlikely imo as we have no Tory funders on our board) and how the US sales have gone. Chill, we'll be back at £4 soon

I'd love to see £5. If approval for home use is given in UK next year then it's quite possible, and depending on the test being available within weeks rather than months. Many anti body test firms who have released tests months ago have tried to get approval for home use, none have, so I wouldn't pin hopes on that yet. If it can match PCR for accuracy then it's a true game changer, but with many Tories on the boards of PCR test companies imo in England at least there's no way it'll be allowed to replace PCR. Just my honest assessment. Even so, worldwide interest will be huge, I dont think any other company is close to what Avacta can potentially do.

I'd take £4.50, a 50% premium on the price now so probably unlikely. Been such a frustrating share to own, one of the (very) few covid aim stocks making millions every week but can barely hold an SP valuing the company at less than a years revenue!!

Given Trump's America first rhetoric (which I agree with I might add) I think he'd find it difficult to explain to his voter base if a European produced test were to get a huge order over an inferior US test. Still, only a few months to wait till he's out

Perhaps that's one of the hurdles Avacta will need to cross before selling to public- maybe even the biggest, and will explain why no antibody test which have been around for months and quite simple in design have been certified for home use. Pregnancy tests can be chucked in the bin, but throwing away known infected clinical waste in household waste or recycling wouldn't be allowed, hence all swabs and tests at the moment done in a clinical setting where disposal can be taken care of. Maybe some sort of disposal waste management partner like stericycle, charge extra £5 for a test, get that refunded when test strip is sent back securely by scanning packaging.

Agree it will be difficult to gauge price now. NCYT (only other covid stock in invested in) originally charged around £900 for a 96 test pack - they were one of the first to market so could, recent RNS show volume sales to be around £6 - £6.50 per test with a 60% profit margin (rapid test is essentially the same thing just with different steps), and enough to support a £3 so. Obv you need either hospital lab or one of their portable mobile testing machines to run it. NCYT has one advantage that they design, manufacture and distribute a lot of the tests themselves, esp in the beginning. I'd be interested to see the breakdown of costs for Avacta. They licence out in the affirmers, but manufacturers need their cut, distributers need their cut, cytivia need their cut.

I know Avacta when ready will be looking to sell huge volumes, so even a 10-20% profit margin per test, assuming they sell for something like £8, will be huge if they can push out 10m+ units a week. The more manufacturing partners the better, and if they can push govts for guaranteed orders rather than trying to flog stock then that's even better. Even if a vaccine came out tomorrow, i wouldn't be taking it, they'll use the old and clinically vulnerable as the guinea pigs, testing will be needed for years, so even if our test isn't ready till the winter there will still be huge demand.

I wouldn't be surprised if we retraced a little from yesterday, but remain over £3. Can't wait for the next RNS sales update, most likely in sept

Just to add, surescreen diagnostics released an antibody pin prick test back in march, but has only been licenced for the test to be performed and interpreted by a trained professional, when I spoke to Tom there they were trying to get approval for home use too, looks like they're still waiting. Maybe the govt will ease regulations to help if it's the only way to get society moving, although tory snouts in the trough may stop that

Is it true that getting approval for home use, ie test to be performed and read by a non professional user, takes longer due to being more stringent than getting approval for use within a clinical setting and/or performed by clinical staff? Will avacta look for clinical use first just to get s product out the door?

https://www.gov.uk/government/publications/how-tests-and-testing-kits-for-coronavirus-covid-19-work/for-patients-the-public-and-professional-users-a-guide-to-covid-19-tests-and-testing-kits

and interpreting the results by themselves. No COVID-19 self-test kits have received a CE mark and therefore there are no test kits in the UK suitable for home use.

It is currently illegal to supply test kits for use by members of the public in the UK though this may change if CE-marked self-test kits become available.

I'm heavily invested here so not deramping, but the above could be part of the hold up, at least for use in UK, and I imagine a huge hurdle to overcome if self testing is the target

Thing is even if an RNS appears to say test has now been optimised, how long until we receive all the relevant approvals? 2, 3 months? In danger of missing the winter season.

As someone also invested in novacyt too, I got the sarcasm! I still wince when I see a number 1 in their live RNS icon.

I'd take that. And if Avacta can get their ar5e in to gear I might actually get a decent pension.

Ok that's good news. Although would be interesting to see how we're juggling potential tenders orders against our production capacity, and what is currently outstanding. Although existing orders are mainly for our older test.

I'm invested roughly equally between here and Avacta, like most people I imagine. I see novacyt as the solution for hospitals, care homes, gp practices where 100% accuracy is essential, and Avacta for getting industry and sporting events back up and running. PCR will always be needed in healthcare imo so even if Avacta do release a test, I see a huge market for both.

Have been offline today - have we missed out on the recent tenders then? If so we're dependant on good US news to get anywhere near £4