Business
Results for the year ended 30 June 2021
Results for the year ended 30 June 2021.
About this update from Bioventix Plc
[{"type":"text","content":"\n \n Bioventix plc\n (“Bioventix” or “the Company”)\n Results for the year ended 30 June 2021\n Bioventix plc (BVXP), a UK company specialising in the development and commercial supply of high-affinity monoclonal antibodies for applications in clinical diagnostics, announces its audited results for the year ended 30 June 2021.\n Highlights:\n \n Revenue up 6% to £10.93 million (2020: £10.31 million)\n \n \n Profit before tax down 1% to £8.12 million (2020: £8.23 million)\n \n \n Cash at year end of £6.5 million (30 June 2020: £8.1 million)\n \n \n Second interim dividend of 62p per share (2020: 52p)\n \n \n Special dividend of 38p per share (2020: 53p)\n \n Introduction and Technology\n Bioventix creates, manufactures and supplies high affinity sheep monoclonal antibodies (SMAs) for use in diagnostic applications. Bioventix antibodies are preferred for use when they confer an improved test performance compared to other available antibodies.\n The majority of our antibodies are used on blood-testing machines installed in hospitals and other laboratories around the world. Bioventix makes antibodies using its SMA technology for supply to diagnostic companies for subsequent manufacture into reagent packs used on blood-testing machines. These blood-testing machines are supplied by large multinational in vitro diagnostics (IVD) companies such as Roche Diagnostics, Siemens Healthineers, Abbott Diagnostics & Beckman Coulter. Antibody-based blood tests are used to help diagnose many different conditions including, amongst others, heart disease, thyroid function, fertility, infectious disease and cancer.\n Over the past 17 years, we have created and supplied approximately 20 different SMAs that are used by IVD companies around the world. We currently sell a total of 15-20 grams of purified physical antibody per year, the vast majority of which is exported. In addition to revenues from physical antibody supplies, the sale by our customers of diagnostic products (based on our antibodies) to their downstream end-users attracts a modest percentage royalty payable to Bioventix. These downstream royalties currently account for approximately 60-70% of our annual revenue. Physical antibody sales and royalty revenues from our multinational customers are made in either US dollars or Euros.\n Bioventix adopts one of two commercial approaches wh...