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“ The Company has developed and is manufacturing the AbC-19TM Rapid Test, an antibody test for Covid-19 indicating whether a person is generating IgG antibodies to the spike protein of the SARS-CoV-2 virus. The Company is also working with three customers to transfer their Covid-19 antigen tests to manufacture, and is manufacturing a component of a rapid PCR (polymerase chain reaction) test. ”
If they are going to raise some cash, they will need to be a bit clearer on those antigen tests one would have thought....I’m not throwing money at you til I know a bit more...
Especially given the odx antibody issues...
That would be my take anyway!
I missed this at time,.
“ Lead UK Rapid Test Consortrium partner Abingdon Health is testing the market for a £100m IPO with a decision to be made whether to go ahead set to be concluded this week.
The company is reportedly looking to raise £20m to fund its expansion and it shares could be admitted to AIM as early as Friday this week.
Picking up on a note from broker N+1 Singer, Sky News notes that much of the rationale behind the IPO is on the basis of the COVID-19 antibody test, of which includes Omega Diagnostics as a consortium partner.
This will be the main driver for it achieving a £100m valuation upon a potential listing.
Abingdon has recently dismissed negative tabloid coverage of the rumoured accuracy of the respective test while sources have told Sky News that there has been positive feedback on Abingdon (likely due to the need for antibody testing amid a suitable vaccine) despite others falling in the COVID-19 testing space generally.”
One thing that still puzzles me is why omega never signed up as an avacta manufacturer....
Capacity is key, but are we meant to think following BIVDA procurement they simply aren’t required..?
Always found it odd.
“ Avacta continues to work actively with the UK government's CONDOR programme to clinically evaluate the coronavirus BAMS assay in order to obtain regulatory approval for diagnostic use. Avacta and Adeptrix are in discussions with mass spectrometer manufacturers with a view to establishing commercial partnerships to market the research use and diagnostic products.”