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5 Aug 2020 07:00
This announcement contains inside informationfor the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR)
EKF Diagnostics Holdings plc
("EKF", the "Company" or the "Group")
New UK supply contract for COVID-19 sample collection kits
New partner from the private sector to use PrimeStore MTM for UK staff testing
EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, announces that it has received an initial order worth £3m from a partner from the private sector to supply PrimeStore MTM, a novel patented sample collection device, to be used in a COVID-19 testing programme for UK staff. This new supply contract is in addition to the $14.1m orders for the three-month period ending 30 September 2020, already disclosed in the 14 July 2020 update, and also covers the period ending 30 September 2020.
With increasing orders for the PrimeStore MTM sample collection device the Company has now established a second UK production line at the Company's facilities in South Wales. EKF now employs 20 new contracting staff members to work on these production lines, which are able to produce 25,000 sample collection tubes a day. Further details on the expansion of manufacturing capacity was provided in the 14 July 2020 update and the Company can confirm that the PrimeStore MTM production line is now up and running in Germany.
The PrimeStore MTM sample collection device, deactivates viruses, bacteria, fungi and mycobacterium tuberculosis allowing safe sample handling and transport, greatly reducing risk of infection. The device was invented in 2006 in preparation for a worldwide pandemic and is designed to de-activate pathogen rapidly and stabilise the RNA for up to four weeks with no requirement for cold storage. In the case of COVID-19, by deactivating the virus testing can now take place outside of containment facilities opening up capacity in more testing laboratories. With the flu season approaching, the PrimeStore MTM can also safely collect flu and COVID-19 samples in the same collection kit.
Due to the continued demand for PrimeStore MTM, full year performance is likely to further exceed, and possibly significantly exceed, previously revised management expectations.
The persons responsible for arranging the release of this Announcement on behalf of the Company are Julian Baines, CEO, and Richard Evans, FD and COO respectively.
EKF Diagnostics Holdings plc | www.ekfdiagnostics.com | |
Christopher Mills, Non-executive Chairman | Tel: +44 (0) 29 2071 0570 | |
Julian Baines, CEO | ||
Richard Evans, FD & COO | ||
N+1 Singer | Tel: 020 7496 3000 | |
Aubrey Powell / George Tzimas (Corporate Finance)Tom Salvesen (Corporate Broking) | ||
Walbrook PR Limited | Tel: +44 (0) 20 7933 8780 or ekf@walbrookpr.com | |
Paul McManus / Lianne Cawthorne | Mob: +44 (0) 7980 541 893 / +44 (0) 7584 391 303 | |
About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com)
EKF is a leading point-of-care diagnostics and central laboratory assay manufacturer with an estimated 80,000 hemoglobin, hematocrit, HbA1c, glucose and lactate analyzers in regular use across more than 100 countries. EKF specializes in developing tests for use in anemia and diabetes diagnosis and management, as well as providing a portfolio of reagents for use in clinical chemistry analyzers.
About PrimeStore MTM
Global demand for the PrimeStore MTM sample containment device has increased significantly due to COVID-19. The device was invented in 2006 in preparation for a worldwide pandemic and is designed to de-activate pathogen rapidly and stabilise the RNA for up to four weeks with no requirement for cold storage. This approach also allows samples to be tested by a greater number of laboratories, as the handling risks for the deactivated virus are reduced.
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