13 Jul 2020 07:01
AIM share code: MWG
13 July 2020
Modern Water PLC
("Modern Water" or "Company")
Collaboration agreement between Integumen and Avacta
Modern Water is pleased to note that Integumen plc ("Integumen"), the Company's reagent production agency partner, has entered into a collaboration agreement with Avacta plc ("Avacta") for the evaluation of Avacta Affimers for the real-time identification of localised COVID-19 hotspots in wastewater, from which authorities can be alerted through Integumen's real-time alert system to prevent the spread of the disease to the wider community.
Under the collaboration agreement with Avacta announced by Integumen today, the two parties have agreed to evaluate some of the recently generated Avacta Affimer reagents in next-generation sensors based on the real-time bacteria detection and alert system1 developed by Rinocloud Ltd, a subsidiary of Integumen.
Once initial testing of the Affimer reagents is completed over the next few weeks, validation of the sensors will be carried out using real SARS-COV-2 virus samples in a containment level 3 laboratory at the University of Aberdeen. Upon successful completion of the evaluation, Integumen and Avacta intend to enter into a supply agreement for the supply of Affimers into Integumen's sensors with the aim of integrating these sensors and retrofitting them into Modern Water's Microtox water contamination system units to detect COVID-19, with the potential for Modern Water to play a key role in sales, marketing and distribution of the upgraded contamination detection systems. The Microtox system, which can detect the presence of contaminating bacteria, virus and toxins but not yet identify them, is distributed by Modern Water and has a global footprint of over 3,000 installations.
Simon Humphrey - CEO of Modern Water, commented:
"We are delighted to be in a position to have a distribution channel that can make the most of the roll-out of the real-time novel sensors for the detection of SARS-CoV-2. Scientists around the world are developing ways of using sewage to locate new infection hotspots and track a second wave of COVID-19. The completion of this evaluation which, if successful, could identify the level of infection in a community without the need for testing individuals is a very exciting breakthrough and we look forward to working with Integumen to make it happen."
Gerard Brandon - CEO of Integumen and Non-Executive Chairman of Modern Water, comments:
"Modern Water has 30+ years of recognition, through the Microtox brand, as the Gold Standard in water contamination detection for equipment that has been sold, and known, across the world. Adding the first real-time detection COVID-19 virus alert system into a tried and trusted Brand, making the world a safer place, is something that management and Boards of both Integumen and Modern Water want to achieve by this cooperation. The Microtox distribution channel is a giant step to achieving that goal."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Modern Water plc | Simon Humphrey, CEO
| +44 (0)20 3827 3439 |
Cairn Financial Advisers LLP (Nominated Adviser)
| Sandy Jamieson Liam Murray Ludovico Lazzaretti
| +44 (0)20 7213 0880 |
Turner Pope Investments (TPI) Limited (Broker) | Andy Thacker / Zoe Alexander | +44 (0) 20 3657 0050 |
About Modern Water
Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. Having invested £20m over the last 14 years, the results comprise a robust patent portfolio of cutting-edge technology, focused on monitoring of contaminated water and decontamination of wastewater, making recycling of water more efficient. Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation.
[1] Remote Automated Water Test (RAWTest) incorporating artificial intelligence (AI) develop in a consortium partly funded by the Irish Environmental Protection Agency (EPA). https://www.londonstockexchange.com/news-article/SKIN/results-of-ai-water-research-project/14314998.