Shares

Abingdon Health BioSURE progress boosts shares in testing times

The Abingdon Health share price (AIM: ABDX) was given a timely boost as it announced further progress on its tie-up with BioSURE for a COVID-19 igG antibody self test.

In a market announcement, ABDX revealed that the new test is now in production at its facilities at York and Doncaster following the completion of the technical transfer to manufacture.

This test from BioSURE will allow individuals to monitor COVID-19 antibodies from home as it is a finger-prick test designed to give results within 20 minutes.

Abingdon added it is the exclusive manufacturer for the product on a global basis that is expected to support a variety of situations including antibody monitoring which will support those who continue to be vaccinated as well as those subject to additional ‘booster’ shots.

This BioSURE test is an additional one that it believes it will ‘complement’ its own AbC-19 test that BioSure is also a partner for distribution:

“Our own AbC-19 assay will complement this product and we expect the AbC-19 to gain additional utility in semi-quantitative format as recently announced. BioSure also distributes our AbC-19 test which is CE marked for professional use. 

“This initiative allows us to build on our long-term collaboration with the BioSure team for whom we manufacture their HIV self-test in the same format as this new test. We are committed to supporting the deployment of these much-needed lateral flow tests to the UK and international markets. This is the first of several products we have previously noted to be going through the technical transfer process with others for COVID antigen and non-COVID applications to follow and which we expect to contribute to contract manufacturing revenue growth.”

Chris Yates of Abingdon Health

The share price of ABDX is currently trading up by 22 percent at 37p.

In the year to date, shares in Abingdon Health are down by 60 percent.

Yesterday it was reported that the Government had selected UK start-up Thriva for its home antibody testing programme and shunned the UK Rapid Test Consortium of which Abingdon Health is part of ( Government appears to shun its own consortium for COVID-19 antibody testing ).

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