BIOVENTIX PLC
R&D AND PRODUCT UPDATE
7 Jan 2010
The Directors of Bioventix plc ("Bioventix" or "the Company") are pleased to
provide an update on the Company's research and development activities and the
current products in use by customers.
Research
During 2010, the main research focus was on the development of the antibody
panel to vitamin D (specifically 25-OH D2 and D3). As previously announced,
there was a technical breakthrough with the identification of a novel antibody
(vitD3.5H10) that recognises the above two forms of vitamin D with equal and
high affinity. The Directors believe that this will prove to be of value to
some Bioventix customers and anticipate that it will generate revenues in the
future.
In 2011, the research focus will move towards progesterone (a fertility
hormone) and benzodiazepines (class of drug that includes well known entities
such as temazepam, valium and rohypnol).
Development
During the period 2007-2009, antibodies to cortisol, hCG and troponin were made
and are now at various stages of R&D at Bioventix customers. Estimates appear
below of when the Directors believe that these projects may begin to produce
increased revenue for the Company. The activities required to enable these
anitibodies to reach commercialisation reside mainly with Bioventix's customers
and are therefore outside of the control of the Company.
Products
Final assay products based on Bioventix antibodies made a number of years ago
reached the market place in 2010. It is noteworthy that the estradiol,
testosterone and THC.cannabis antibodies were created in the period 2005-2007
and took from 3-5 years to reach the market. This lead-time is a natural
consequence of the R&D and regulatory steps that take place at Bioventix's
customers after samples have been delivered.
The table below summarises the Bioventix product portfolio at January 2011
Product pipeline
Project Disease area Bioventix R&D and Launched in customer
date antibodies diagnostic products
created (or estimated launch
data)
T3 Thyroid Approx 1990 Approx 1995
NT proBNP Cardiac 2004 2007
Testosterone Fertility 2006 2009
Estradiol Fertility 2005 2010
THC (cannabis) Drug testing 2007 2010
Cortisol Adrenal/stress 2008 Estimated after 2012
hCG Pregnancy 2007 Estimated after 2012
Vitamin D General health 2009 Estimated after 2012
Troponin Cardiac 2007 Estimated after 2013
Tacrolimus Transplant drug 2010 Estimated after 2013
Benzodiazepines Drug testing Current research in -
2011
Progesterone Fertility Current research in -
2011
The Directors of Bioventix plc accept responsibility for this announcement.
Bioventix plc
Peter Harrison, CEO
+44 (0)1252 728001; peter.harrison@bioventix.com
Keith, Bayley, Rogers & Co. Limited - PLUS Corporate Adviser
David Coffman
+44 (0)203 100 8300
ABOUT BIOVENTIX
Bioventix (www.bioventix.com) specialises in the development and commercial
supply of high-affinity monoclonal antibodies (SMAs) with a primary focus on
their application in clinical diagnostics, such as in automated immunoassays
used in blood testing. The antibodies created at Bioventix are generated in
sheep and are of particular benefit where the target to be assayed is present
at low concentration and where conventional mouse monoclonal or polyclonal
antibodies derived from various species have failed to produce a suitable
reagent.
Bioventix was incorporated in 2003 following a management buyout of assets
(including technology and intellectual property) relating to the creation of
SMAs from KS Biomedix Limited. The management buyout was led by Peter Harrison
and principally funded by SpringHill Bioventures Sendirian Berhad, a venture
capital fund company registered and regulated by the Securities Commission in
Malaysia.
Since 2003, Bioventix has established a profitable commercial offering based on
its SMA technology and its shares became quoted on the PLUS-Market in London in
April 2010 (BVXP).