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Oxford Immunotec Limited Wins Place on the Sunday Times Hiscox Tech Track 100



9/17/2012 10:05:28 AM

Oxford, UK [Marlborough, MA]; 17 September 2012 – Oxford Immunotec has been awarded a place on the prestigious Sunday Times Tech Track 100 league table. Ranking Britain's 100 private technology companies with the fastest-growing sales over the last three years, Tech Track 100 is compiled by Fast Track, the Oxford company that researches Britain’s top-performing private companies.

Commenting on the company’s inclusion in the top 100 list, Dr Peter Wrighton-Smith, Oxford Immunotec’s Chief Executive Officer, said, “We are delighted to have the success of the company recognised. Oxford Immunotec’s revenues have been growing at 60% per year over the last few years, driven by the sales of our diagnostic for Tuberculosis to an every-increasing list of countries. Exports now form almost 90% of our revenues, and with a global market for our test exceeding $1bn, we expect to continue to grow strongly in the years ahead.” He added; “To be one of only three life sciences companies in the list is a particular honour, and we are proud to be building a successful company on the foundation of making a significant difference to the global fight against Tuberculosis which remains a major public health threat worldwide”.

The Sunday Times Tech Track 100 league table was published in the Sunday Times yesterday.

About Oxford Immunotec

www.oxfordimmunotec.com

Oxford Immunotec Ltd., a global immunology-focused diagnostic company, is headquartered near Oxford, UK; its US operations are based in Marlborough, MA. The company is developing novel new tests in the fields of infectious and immunological disease based primarily on its patented T-SPOT® technology, the first FDA-approved method for directly quantifying antigen-specific T cells.

T-SPOT technology is a simple and extremely accurate method of studying a person’s cellular immune response and, as such, provides a unique methodology to diagnose and monitor diseases driven by a T cell response.

Oxford Immunotec’s primary product, the T-SPOT.TB test, is one of two Interferon-gamma release assays (IGRAs) which detect latent TB infection and are replacing the 90-year old tuberculin skin test currently used for this purpose. The World Health Organisation estimated in 2006 that 50 million latent TB screening tests were performed each year, representing a greater than $1bn per annum market opportunity for TB testing globally. IGRAs are now endorsed in clinical guidelines in over 20 countries and the T-SPOT.TB test has now received regulatory approval in over 40 countries worldwide, including the US, Europe and China. In the US, the T-SPOT.TB test has its own CPT® code (86481) with recently increased CMS reimbursement of approximately $106/test. The T-SPOT.TB test is also covered in various other clinical lab fee schedules around the world.

As well as developing & selling tests in kit form, Oxford Immunotec also runs a testing laboratory business in both the US and the UK (Oxford Diagnostic Laboratories) designed to provide unparalleled levels of expertise, service, turnaround time and simplicity for physicians wanting to access immunological tests such as the T-SPOT.TB test.

T-SPOT and the Oxford Immunotec logo are registered trademarks of Oxford Immunotec Ltd.

CPT is a registered trademark of the American Medical Association


Read at BioSpace.com


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