AIM-listed CelLBxHealth has secured a Master Services Agreement with AstraZeneca, giving the circulating tumour cell specialist qualified service provider status with one of the world’s largest pharmaceutical companies.
Under the agreement, CelLBxHealth will support AstraZeneca’s drug discovery and development work through CTC-powered analytics of clinical trial samples, using the company’s proprietary Parsortix platform.
Master Services Agreements with big pharma are the sort of foundational wins that can lead to recurring project work over time rather than deliver a single headline number.
For a company of CelLBxHealth’s size, this is a major development, as reflected in the 30% rally in shares on Friday.
Peter Collins, Chief Executive Officer of CelLBxHealth, said: “We are delighted to enter into this Master Services Agreement which enables AstraZeneca to access our capabilities across their development pipeline. We look forward to delivering strong and productive outcomes through this framework.”