Business
Expansion of Collaboration with ForteBio
Expansion of Collaboration with ForteBio.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \nRNS Number : 0915K Avacta Group PLC 25 July 2013 \n \n\n \n\n\n\n\nPress Release \n\n\n25 July 2013\n\n\n\n\n \nAvacta Group plc\n(\"Avacta\" or the \"Group\")\n \nExpansion of Commercial Collaboration with ForteBio\nForteBio Signs Distribution Agreement in China\n \nAvacta Group plc (AIM:AVCT), a global provider of innovative diagnostic tools, consumables and reagents aimed at reducing the cost of human and animal healthcare, is pleased to announce that it has extended its commercial collaboration with ForteBio, a division of Pall Life Sciences. Avacta has entered into a distribution agreement with ForteBio for the sale of Optim, the Group's protein analysis product, in China, Hong Kong and Taiwan.\n \nOptim has been developed to accelerate and reduce the cost of drug development by providing early analysis of compounds to identify the best candidates and to define the optimal processing conditions. In the critical stages of pre-formulation, stability testing and formulation of biopharmaceutical drugs, Optim delivers vital information tens of times faster than other approaches, using sample sizes less than a hundredth the size of those needed by existing techniques. Optim comprises a benchtop instrument, analysis software and a single-use sample holder that leads to recurring consumables revenues.\n \nPall Life Sciences has been in partnership with Avacta since 2011, with distribution agreements in place to market Optim in the US, SE Asia including Australia, India and now in China, Hong Kong and Taiwan. ForteBio develops analytical systems that enable real-time analysis of biomolecular interactions (protein quantification and characterisation of protein-protein interactions) in micro-volume sample sizes, providing information on affinity, kinetics, and concentration. It has global sales, marketing and support functions.\n \nAlastair Smith, Chief Executive of Avacta Group commented: \"The Board is delighted to have moved the Group's distribution relationship in China to ForteBio; this partnership is performing well across the other territories with good growth in the sales pipeline for the Optim 2 unit which was launched a few months ago. The training of ForteBio's global sales, marketing and support teams has been completed and the Board anticipates seeing a stron...