Business
AGM Statement
AGM Statement.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 4158Y Avacta Group PLC 24 January 2014 \n \n\n \nAvacta Group plc\n(\"Avacta\" or the \"Group\")\n \nAGM Statement\n \nAvacta Group plc (AIM: AVCT), the global provider of proprietary diagnostic tools, consumables and reagents for human and animal healthcare, will hold its Annual General Meeting of shareholders at 2pm today at the offices of Walker Morris Solicitors, 12 King Street, Leeds, LS1 2HL.\n \nAt the meeting the Chief Executive, Alastair Smith, will provide shareholders with the following update:\n \nTrading for the first half of fiscal 2014 is in line with market expectations.\n \nWe have seen good progress in Avacta Analytical in the first half of this financial year following the launch of the re-engineered Optim2® early in 2013 and a strong growth in the number of units shipped in the second half of last year. This improved shipping run rate has continued this year assisted by our commercial partners and by direct sales in Europe. \n \nAvacta Animal Health continues to concentrate on one of its core strategic objectives of expanding its business outside of the historical focus on allergy. Most notably, the unique canine lymphoma blood test was launched recently in the UK and the company is now establishing a route to market for this test in North America. There are several other new diagnostic tests to be added to the portfolio in the coming months. New tests will be commercialised initially through test kits and lab services (under the brand names Sensipak® and SensiTest®) whilst being adapted for delivery on the Sensipod® point of care in-clinic platform. There is an opportunity for strong, short term growth in sales through the kits and lab services which are important to secure as well as delivering on the longer term benefits from Sensipod® which will be driven by the larger point of care test menu we are developing.\n \nWe are pleased to report that Avacta Life Sciences is making good progress towards its first commercial offering of a custom Affimer reagents service. This service aims to provide high quality Affimer binders to customers' targets. Later in the year this will be added to by the launch of a catalogue of internally generated Affimers against targets where there are gaps in antibody availability and highly commercial targets. Th...