Leading international developer of high quality and effective rapid tests Abingdon Health signed two Memorandums of Understanding (MoU) with Vatic Health and DeepVerge earlier today.
Vatic Health
Abingdon Health has signed a MoU with Vatic Health, a renowned diagnostic technology innovator. The MoU constitutes a commercial partnership between Abingdon and Vatic for the development and production of a range of lateral flow tests in the field of infectious disease, similar to those used in detecting Covid-19.
The initial focus of the MoU will be to create novel influenza lateral flow tests using Vatic’s patented technology platform, which recognises proteins through their surface biological processes.
Following the ratification of the MoU, Abingdon and Vatic intend to enter into a longer-term commercial agreement where both parties will develop infectious diseases lateral flow tests, with Abingdon exclusively manufacturing these tests. Both parties will collaborate on the commercialization of these innovative new products.
Alex Sheppard, Chief Executive Officer, Vatic Health Limited, said, “We are excited to be deepening our collaboration with Abingdon Health and we look forward to extending the use of our proprietary technology from COVID-19 into other areas of unmet need to further address inequalities of access to health information through self-tests.”
DeepVerge
DeepVerge is an ‘environmental and life science group’ that develops and applies artificial intelligence (AI) and internet of things (IoT) technology for the analysis and identification of bacteria, virus and toxins.
Abingdon Health announced the signing of a MoU with DeepVerge on Tuesday which will lead to a commercial agreement for the development and manufacturing.
The MoU was signed to allow DeepVerge and Abingdon’s technology to be integrated in the future.
Abingdon will manufacture the new products, while DeepVerge will commercialise them through its global production, sales, marketing, and distribution channels.
“DeepVerge’s business model is built on collaborating and cooperating with partners such as Abingdon Health who have technologies and large production capacity to deliver solutions to major societal problems such as water contamination and the identification of human biomarkers for a range of health conditions,” said Gerard Brandon, CEO of DeepVerge.
Abingdon Health’s shares lifted 9% to 11.7p following the announcement of 2 MoUs being signed.
