Last checked at 14 Jun 2021 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
14 June 2021
Kromek Group plc
("Kromek" or the "Group")
Kromek awarded c. $6m contract by DARPA to further develop its bio-threat detection system
Phase II to further develop the functionality of technology to detect and identify pathogens and include a networked solution
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, is pleased to announce that it has been awarded a new c. $6m contract by the Defense Advanced Research Projects Agency ("DARPA"), an agency of the US Department of Defense, for Phase II of its development of a biological threat detection system that senses, analyses and identifies airborne pathogens. Kromek will deliver the contract over the next 28-month period, commencing immediately.
Phases I and II are an extension of the existing SIGMA network for biological threats as part of DARPA's SIGMA+ initiative. Phase II follows the successful completion of Phase I where key milestones achieved over the past two years included the development of a vehicle-mounted biological-threat identifier as well as a miniaturised mobile wide-area bio-surveillance system. This new contract takes the overall programme value awarded to Kromek to c. $13m.
Phase II will seek to deliver a completely automated wide spectrum airborne pathogen detection system that is fully mobile and runs autonomously. Also, systems will be designed to be networked where data is stored, shared and further analysed and provide real-time information to decision makers. Key milestones under Phase II include the creation of beta units as well as final design and build of systems for extended field trials. In addition to the design process, the bioinformatics methodologies will be refined as data is collected for both enhanced performance and increased speed.
Dr Arnab Basu, CEO of Kromek, said: "In addition to the ever-present danger of bio-terrorism, the outbreak of the pandemic has exposed the world to the severity of biological threats and their potential impact on public health and the global economy, and has demonstrated the need to rapidly evolve bio-security systems and associated technologies. This contract will allow us to continue our work in developing a mobile wide-area bio-surveillance system capable of detecting airborne pathogens in real-time. We look forward to reporting on our progress as we deliver on our milestones."
Approved for Public Release, Distribution Unlimited
For further information, please contact:
Kromek Group plc |
|
Arnab Basu, CEO Paul Farquhar
| +44 (0)1740 626 060 |
Cenkos Securities plc (Nominated Adviser and Broker) |
|
Max Hartley/Camilla Hume (NOMAD) Julian Morse (Sales)
| +44 (0)20 7397 8900 |
Luther Pendragon (PR) |
|
Harry Chathli Claire Norbury | +44 (0)20 7618 9100 |
About Kromek Group plc
Kromek Group plc is a technology group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.
The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.
The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.
Currently, the Group has over 150 full-time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and
https://twitter.com/kromekgroup.