Batm Advanced Regulatory News (BVC)

LEI: 213800FLQUB9J289RU66

2 May 2024

BATM Advanced Communications Limited

("BATM" or "the Group") 

BATM selected for a prestigious EU-funded TB diagnostics programme

Collaboration with the National Research Council of Italy (CNR) towards development of an advanced solution for the rapid diagnosis of TB

BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce that the Group has been selected for a prestigious programme, that is receiving funding from the European Union, for the development of an advanced tuberculosis ("TB") diagnostics solution. The Group has also been awarded a grant of €0.5m towards the initial 18 months of the programme with the potential for additional funding to be awarded thereafter for the next stage.

The Group was selected by the National Research Council of Italy (Consiglio Nazionale delle Ricerche) ("CNR") under a competitive process involving many companies and after a lengthy and detailed verification phase to participate in the programme alongside one of CNR's research institutes, the Institute for System Analysis and Computer Science (Istituto di Analisi dei Sistemi ed Informatica) ("IASI"). The Group's participation reflects its strategy to advance the BATM diagnostics division through developing advanced molecular diagnostics solutions for substantial infectious disease markets, with the global diagnostics market for TB being worth over $2bn. It is also demonstrative of the steps that the Group is taking to drive long-term sustainable growth through investing in constant innovation to maintain the diagnostics division's technological edge.

The programme is for the development of a diagnostics system, based on the Rolling Circle Amplification ("RCA") method, for the rapid identification of TB and multi-drug resistant TB. This builds on the existing work of the BATM diagnostics division for the development of a rapid, RCA-based sample-to-answer diagnostic solution for TB and multi-drug resistant TB. The programme is receiving funding from the European Regional Development Fund via the Lazio Regional Operational Program of the Lazio regional government.

Moti Nagar, CEO of BATM, said: "Our selection by such an esteemed institute as CNR for this important initiative is testament to the recognition of our expertise in developing advanced, market-leading diagnostic solutions. TB remains one of the world's leading killer infectious diseases and a persistent global health security threat. We are honoured to be contributing to the development of a solution that through faster and more accurate diagnosis will lead to significantly more effective prevention and treatment and ultimately save lives. This reflects our dedication to continued innovation to produce world-class molecular diagnostics solutions in line with our strategy. We look forward to working closely with our partners on this programme to learn from them and leverage our collective strengths to make significant advancements in this important field of medical technology."

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