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Perhaps just a little observation, but we know Salignostics have been progressing FDA approval for Salistick for nearly three years now, that they are currently "positioning" the product in the States, and that Salistick made Time Magazine's top 200 inventions of 2023.
Well today Time published its top 100 most influential people in Health and included Raluca Cohen, one of the scientist behind Salistick, in this list.
Can't hurt in the US positioning....
https://time.com/collection/time100-health/
https://time.com/6962679/raluca-cohen/
A little more here
https://neutrapharma.com/products/home-self-test-kits/
Interesting post from Neutrapharma today, introducing their “exclusive collaboration” with us to distribute our AST range.
To be honest I don’t think this agreement is new. What is a little more interesting is that they say 2 new tests will be launched this summer. Perhaps the FOFH STI tests?
https://www.linkedin.com/posts/neutrapharma-europe-limited_exclusive-pharmacy-pharmacist-activity-7191728649132204033-_xu5?utm_source=share&utm_medium=member_desktop
Looks like Loop are in the middle of another funding round, seeking £5m with 15% intended for U.K. launch. Some interesting info in this pitch slide.
https://www.linkedin.com/posts/choskin-exec-leader_techtuesday-innovation-investor-activity-7191028516694466561-l55L?utm_source=share&utm_medium=member_desktop
I really hope not. Growing through acquisition always sounds great but the reality in my experience is that integration frictions and costs are underestimated. And I agree, it’s unlikely we could afford it anyway.
Agree RCMP. Alpha out of patience. No diamonds. Uncertain refi option which even if secured only covers Alpha to “a large extent”. First $1.5m payment due next Tuesday. Baita production constrained by lack of money. No PGM sales because of concentrate variability.
Even the fluff in this RNS seems less fluffy! Lipstick on a pig. Real risk of a raise imminently.
I’m afraid to say the Boots tie up might not be as lucrative as I’d thought.
If you look through this Amazon listing for the AST Vit D test you will see it originates from China and is made by ( Hangzhou) AllTest. That is the same manufacturer for all other AST tests listed on Amazon, as well as being the manufacturer for all MHC lateral flow tests.
So if you buy a Boots, AST, or MHC lateral flow test, I think the reality is it will be precisely the same test in the box, ie a Chinese AllTest.
That perhaps explains the involvement of Crest Medical. I suspect we are an authorised AllTest distributor with rights to brand, that Crest are a Boots supplier, that Crest have sourced the tests from us for supply to Boots, and that we have assisted in their re-branding. That would tie up much more with what Yates said in the investor presentation.
We will still of course be getting a cut from all “Boots” tests sold, just not as much as I’d thought. The bigger value lies in having created the relationship such that future tests we may make, like the FOFH tests, could find their way onto Boots shelves.
Others may well have twigged this long before I have, I just assumed we made the AST tests - feel a bit of an idiot to be honest.
https://www.amazon.co.uk/Abingdon-Simply-Test-Vitamin-Test/dp/B0BXM3QTRD?ref_=ast_sto_dp
Another little one…
Whatever own brand Vitamin D stock Boots bought has sold out online. “New stock coming soon”. We don’t know, of course, how much they bought initially, but it’s still a good sign I think.
GRV published its quarterly report overnight.
Re EP145 they say “Ministerial consent is expected imminently”
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02799530-2A1519561
Just a bit of a throw away observation, but I did notice in the FOFH RNS that ABDX highlighted they will have rights to offer the STI tests as own brand retailer products, and you have to wonder if they have Boots in mind. Whatever the case, its clear that retailer own branding is something ABDX are pursuing and, of course, we can offer exactly the same test ( I think) to multiple retailers as an own brand product.
In that vein, and to give a flavour, BBI were sold in 2021 for £400m.
Should be remembered that they provide antibodies, antigens, labels, and complementary reagents, as well as do everything ABDX does. But still…..
https://www.prnewswire.com/news-releases/novo-holdings-acquires-bbi-group-301312183.html#:~:text=COPENHAGEN%2C%20Denmark%2C%20June%2015%2C,value%20of%20over%20GBP%20400
Well said, and in fewer words than I normally manage! Maybe I should try the wine.
Longer term, well more medium term I think, I expect that Chris Hand will be looking for a capital exit. He’s already built, AIM listed and then sold one drugs of abuse LFT diagnostics company (Cozart, now part of Abbot) for £65m, and he must be looking at ABDX as his juicy retirement fund. He’s 63 next month.
For awareness btw, there is a company called AbcDx that are trying to do exactly what Upfront are. They are being assisted by BBI (one of our major competitors), but seem to me to be AT LEAST 6 months behind Upfront.
https://www.abcdx.ch/solution/lvocheck
https://www.frontiersin.org/journals/neurology/articles/10.3389/fneur.2023.1327348/full
TBH I think one advantage here is that unlike many other stocks, we’re not waiting on a single catalyst but instead have our fingers in so many pies. At the moment I’m watching out for any news on;
Septiloop sales/take up.
Salistick launch in new territories and possibly FDA authorisation. Equally any new U.K. retailers
Upfront funding and UKCA
Another own label Boots product(s)
News on EcoFlo pro type testing/results and possible commercial launch
And this is all just what’s on my radar for Q2/3, and ignores 52North, FOFH, and any other surprises we know nothing about.
I never put too much store in analyst predictions but 78p really doesn’t sound ridiculous to me as a 12 month target. If we were to do it though, the beauty is that it should be founded on solid year on year annuity income.
And as I’ve said before, our risk is spread widely across customers who have all spent years getting to where they are, and who therefore have every incentive to achieve commercial success.
Another observation, this time just a post from Upfront.
https://www.linkedin.com/posts/upfrontdiagnostics_timeislife-activity-7188440790136676352-hZJU?utm_source=share&utm_medium=member_desktop
Upfront have been working with North East NHS Hospitals since 2018 and, as you can see from the post, that means they have built a product that not only works, but has been made specifically for use in the NHS. Its little wonder they were selected for the IDAP scheme and their LVOne test is, for my money, destined for widespread NHS adoption. The next I think we will hear from Upfront, which I suspect will come pretty shortly, is a successful latest funding round. Then it will be UKCA this quarter and then very quick NHS adoption and ergo manufacturing requirements.
Worth noting again that Upfront have been telling people that they can manufacture at scale. Well, we are their only manufacturing partner as far as I can tell.
Another observation…
It would appear that Salignostics have become a client of Sheng Enterprises, a Chinese company helping Israeli companies get a foothold in the Chinese market. More detail can be found here under the March 24 event “ The Israel Medical Device Special Matchmaking Event” - https://www.sheng-cn.com.cn/events-meetings/.
More on Sheng generally here - https://www.sheng-cn.com.cn/
More for awareness really
Just another little observation….
ABDX latest blog was about security of supply chain, written by our COO Mark Jones - https://www.abingdonhealth.com/ensuring-your-critical-components-are-protected-the-importance-of-supply-agreements/
Whist this is undated, it appears to me to be a new news release from a company called Rosti, who have partnered with is for injection moulding.
https://rosti.com/rosti-uk-secures-exciting-new-project-with-abingdon-health/
Just interesting that focus lately has been on supply and security of manufacturing components.