SYGNIS AG: SYGNIS AG partners with Abingdon Health to provide full service custom lateral flow assay design and supply
PRESS RELEASE 7 November 2017
SYGNIS AG partners with Abingdon Health to provide full service custom lateral flow assay design and supply
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(R) 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 Dr. Heikki Lanckriet CEO/CSO Phone: +44 1223 873 364 Email: firstname.lastname@example.org MC Services AG Dr. Claudia Gutjahr-Loeser Managing Director Phone: +49 89 210228 0 Email: email@example.com
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(R), 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.
### This publication is intended for information only and constitutes neither an offer to sell nor an invitation to buy securities. Some statements included in this press release, relating neither to proven financial results nor other historical data, should be viewed as forward-looking, i.e. not definite. Such statements are mainly predictions of future results, trends, plans or goals. These statements should not be considered to be total guarantees since given their very nature they are subject to known and unknown risks and imponderability and can be affected by other factors as a consequence of which the actual results, plans and goals of SYGNIS AG may deviate greatly from the established conclusions or implied predictions contained in such statements. SYGNIS does not undertake to publicly update or revise these statements in the light of new information or future results or for any other reason. ###
Additional features:Document: http://n.eqs.com/c/fncls.ssp?u=HJMSTLBOXRDocument title: Abingdon_Eng
07.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: SYGNIS AG Waldhofer Str. 102 69123 Heidelberg
Germany Phone: +49 (0) 6221 3540 125 Fax: +49 (0) 6221 3540 127 E-mail: firstname.lastname@example.org Internet: www.sygnis.com ISIN: DE000A1RFM03 WKN: A1RFM0 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service