Avacta Group plc
Product Launch
Contaminant detection service for high-value biopharmaceutical industry
Avacta Group plc ("Avacta"), which provides novel detection and analysis
technology for the pharmaceutical, defence/security and clinical diagnostics
markets, along with contract research services for the biopharmaceutical
industry, announces the development of a new detection service to support
biopharmaceutical drug development.
Avacta has developed a quantitative polymerase chain reaction (QPCR) test to
detect contaminants in the drug development process and during production, and
announces the launch of its QPCR safety testing service for biological
therapeutic manufacturers. Avacta aims to provide a comprehensive analytical
service to existing and new customers in the rapidly growing biopharmaceutical
sector which outsources $16.2 billion of contract services per year; a figure
that in the first quarter of 2008 was increasing at an average rate of 24%.*
The biopharmaceutical industry commits a significant amount of their drug
development budget to ensure that potential drugs under development are safe
for use and free from any incidental contaminating agents that may be
accidentally introduced during production. The sensitive and specific detection
of residual DNA, viruses and mycoplasma that may contaminate cell lines or
products is a vital element in bringing a safe product to market.
Development of a broad services portfolio will allow Avacta to provide a
greater depth of support in the drug development process and help win more
high-value contracts including the analysis of clinical samples. Avacta is
targeting batch release testing and other long term repeat service requirements
in its marketing activity.
Alastair Smith, Chief Executive Officer, commented:
"The expansion of Avacta's analytical services is key to providing a
comprehensive "one stop shop" to the biopharmaceutical sector, underpinning
revenue growth and market presence in our core market for technology products
to be launched in due course. Safety testing of biopharmaceutical products and
the cells/additives used to produce them is a mandatory safety requirement
during each stage of drug development, meaning there are significant
opportunities for revenue generation and rapid market penetration.
It's another very solid step forward for Avacta in our development of a high
quality, comprehensive service to the biopharmaceutical sector and follows on
from our launch of the Biophysical Toolkit and the ViVax Toolkit last year."
11 September 2008
Enquiries:
Avacta Group plc Tel: 0870 835 4367
Alastair Smith, Chief Executive Officer
Tim Sykes, Chief Financial Officer
Haggie Financial LLP Tel: 020 7417 8989
Nicholas Nelson / Kathy Boate Nicholas.nelson@haggie.co.uk
WH Ireland Limited Tel: 0161 832 2174
David Youngman
Novum Securities Limited Tel: 020 7562 4700
Henry Turcan / Michael Brennan
*The Contract Research Annual Review 2008. Biopharm Knowledge Publishing
Notes to Editors:
About Avacta
Avacta was spun-out from the University of Leeds in 2004 by its current
management team as a biophysics company, with the aim of combining the
disciplines of physics and biology to develop innovative technologies and
expert technical services to address needs in the pharmaceutical, defence and
clinical diagnostics markets. Avacta has a core bio-analytical technology
development programme addressing the needs of the biopharmaceutical sector to
fully characterise their new products at the earliest stage in their
development to reduce the risk of late stage failure. High value solutions in
defence and clinical diagnostics are also being provided by these core
bio-analytical technologies. A successful and growing part of the Avacta
business model is its technical services arm, Avacta Analytical Ltd, which is
focused on providing leading edge contract research to the biopharmaceutical
and healthcare/personal-care materials sectors. Avacta listed on AIM in August
2006 through the reverse takeover of Readybuy plc which changed its name to
Avacta Group plc.
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