Avacta Group shares rally 6% after distribution pact with ABCAM



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By Samuel Indyk

Investing.com – Avacta Group PLC (LON:) announced on Tuesday that they have entered into a global distribution agreement with Abcam PLC (LON:) to sell its Covid-19 research ELISA affirmer reagents.

The UK-listed diagnostics company developed its Affirmer reagents which can be used in ELISA laboratory tests to detect the Covid-19 spike protein with high sensitivity and excellent specificity for the spike protein of the original strain of the virus and other dominant variants, including the Kent variant.

About ABCAM

The UK-based, dual-listed company supplies high quality biological reagents and kits which are used in diagnostics and basic research. Under the agreement with Avacta, Abcam PLC (NASDAQ:) will enable the global research community to access Avacta’s spike protein Affirmer research reagents through its online catalogue, allowing scientists around the world to perform the ELISA test in their own laboratories.

Financial terms of the worldwide, non-exclusive distribution agreement between the two companies have not been disclosed.

“We are delighted that we have established a global route to market for the SARS-CoV-2 spike protein Affimer reagents through ABCAM’s dedicated global commercialisation infrastructure,” said Avacta Group CEO Dr Alastair Smith.

“As far as we are aware, our spike protein ELISA test is the most sensitive test of its kind and, in ABCAM, we have a world-leading partner capable of maximising the commercial potential of the Affimer reagents by making them globally available to scientists who are researching into the SARS-CoV-2 coronavirus.”

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