SYGNIS AG under its Innova brand name today announced it has established a partnership with Abingdon Health Ltd, which will enable SYGNIS to provide its customers with full lateral flow assay development services as well as establishing SYGNIS as the preferred colloidal gold supplier to Abingdon.
| Heidelberg, Germany, 7 November 2017 – SYGNIS AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime Standard) under its Innova brand name today announced it has established a partnership with Abingdon Health Ltd (Abingdon), which will enable SYGNIS to provide its customers with full lateral flow assay (LFA) development services as well as establishing SYGNIS as the preferred colloidal gold supplier to Abingdon. The global market for lateral flow assays is growing at 16% per annum and projected to be worth US $ 8.2 billion by 2022. This growth is driven by the high prevalence of infectious diseases worldwide, and the rising demand for point-of-care testing, a market predicted to reach US $ 39.96 billion by 2021. The partnership opens up an exciting opportunity for both companies to reach this rapidly expanding market, combining SYGNIS’ in-house expertise in supporting lateral flow assay development from initial idea through to research and development, and automated lateral flow manufacturing from Abingdon, with the capacity to produce millions of rapid tests annually. In addition, SYGNIS will have access to Abingdon’s ADxLR5® reader systems, extending SYGNIS’ custom LFA services to include bulk manufacture. As a result of this partnership, SYGNIS is now able to offer a full custom LFA service, from proof-of-principle dipsticks, to full strips, sample pads, conjugate pads and absorbent pads, as well as subsequent transfer to small commercial or bulk manufacture. Alastair Carrington, Vice President Sales at SYGNIS, commented: “There has been a long-standing relationship between Abingdon and SYGNIS. I am very pleased we are now able to set up a commercial partnership that brings together two innovative, industry leading organisations, with a clear complementary synergy to provide a total solution to the lateral flow community.” Chris Yates, CEO of Abingdon Health, commented: “We are very pleased to launch our collaboration with SYGNIS. The provision of SYGNIS’ bioconjugation expertise supports our strategy to provide a best-in-class lateral flow assay and reader development and manufacturing service to our contract customers.” For further information, please contact: SYGNIS AG MC Services AG About SYGNIS AG: www.sygnis.com SYGNIS AG develops and commercialises value-added, easy-to-use, reliable products based on its proprietary technologies, offering a wide range of solutions that address key challenges in molecular biology. With the acquisitions of Expedeon Holdings, Ltd. in 2016 and both C.B.S. Scientific Company, Inc. and Innova Biosciences Ltd. in 2017, SYGNIS significantly expanded its product line and now covers the entire molecular biology workflow, including genomics, proteomics and tools as well as cutting-edge bioconjugation technologies and services. SYGNIS’ products are sold through a direct sales force and several distribution partners in Europe, the U.S. and Asia. The SYGNIS Group has offices in Germany, Spain, UK, USA and Asia. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: LIO1; ISIN: DE000A1RFM03). About Abingdon Health: Abingdon Health is an integrated UK-based diagnostics company. Focused on the development and manufacture of lateral flow rapid diagnostics tests and readers, Abingdon provides services for medical, veterinary and agri-food sectors. The Company supports customers looking to develop new assays, or to transfer existing laboratory-based assays to lateral flow format, taking projects from the initial concept to routine and large-scale manufacturing. Additionally, Abingdon offers lateral flow reader assay OEM solutions based on their CE marked and FDA registered touch-screen reader, ADxLR5®, to carry out reader customisation for customers looking for a quantitative solution for a lateral flow assay. Since Abingdon Health’s formation in 2008, the Company has completed a series of selective acquisition and licensing transactions, further developing the Company’s reputation as a leading innovative diagnostic company. |
