Business
Licensing Agreement
Licensing Agreement.
About this update from Avacta Group Plc
[{"type":"text","content":"\n \n Avacta Group plc \n\n Licensing Agreement \n\nAvacta Group plc (\"Avacta\" or \"the Company\"), the biophysics company which\nprovides innovative high value technologies and services to the\nbiopharmaceutical and diagnostics markets, announces that it has entered into\nan agreement with EV (Medical Screening) Limited (\"EV\") for the exclusive\nworldwide rights to Avacta's laser based breath diagnostics technology.\n\nAvacta acquired the above technology in 2007 and has developed it into a viable\nmethod of breath diagnostics and industrial gas sensing with several prototypes\nhaving been completed.\n\nEV is focused on becoming a world leading breath diagnostic company and has\nidentified Avacta's technology as being capable of providing an accurate and\nsensitive method of detecting certain gases in human breath. EV is focused\ninitially on non-invasive methods of screening the population for, and\nmonitoring the treatment of, diabetes and expects to bring products to market\nwithin two years based on Avacta's and other technologies. This represents a\nmulti-billion dollar worldwide market and Avacta will receive a royalty of 10%\nof net sales on products developed using its technology.\n\nAlastair Smith, Chief Executive, Avacta Group plc commented:\n\n\"It is well recognized that there is a huge potential market for a non-invasive\nscreening/monitoring tool for diabetes. The Avacta gas analysis technology has\nthe potential to provide a rapid, non-invasive and accurate method of screening\nthe population for diabetes and this is an area that Avacta had identified as\nideal for its technology for some time. Our limited resources have not allowed\nAvacta to focus on human diagnostic applications to date but this license\nagreement with EV will accelerate the commercialisation of the technology in a\nvaluable application area.\"\n\n20 September 2010\n\nEnquiries:\n\nAvacta Group plc Tel: 0844 414 0452 \n \nAlastair Smith, Chief Executive Officer www.avacta.com \n \nTim Sykes, Chief Financial Officer \n \nBroker Tel: 020 7101 7070 \n \nXCAP Securities Limited www.xcapgroup.com \n \nJohn Grant/Karen Kelly/David Newton Tel: 020 7383 5100 \n \nNominated Adviser www.grantthornton.co.uk \n \nGrant Thornton Corporate Finance \n \nPhilip Secrett/Colin Aaronson \n \nHaggie Financial LLP Tel: 020 7417 8989 \n \nNicholas Nelson \n\nNo...