Epistem secures contract for TB test

EpiStem, the pre-clinical drugs test firm, has reported that full year trading has been broadly in-line with market forecasts.

The firm also said it has reached agreement with US firm Becton Dickinson for the supply and distribution of its Mycobacterium tuberculosis (TB) test on a global basis using its Genedrive molecular point-of-care platform.

The TB supply and distribution agreement includes an upfront payment of $1.0m with further milestone payments of up to $3.0m, alongside escalating supply volumes over the next five years.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The Genedrive diagnostic device, described last October by EpiStem's Chief Executive Officer Matthew Walls in an interview with Sharecast as a gizmo "bigger than an iPod but smaller than an iPad", provides a quick, low cost, and simple-to-use device, which could prove a real boon to medical practitioners in parts of the world where a trip to the local doctor is not really a viable option.

The Genedrive platform and TB test have recently received registration, and regulatory submissions are now in preparation for the Indian market.

The share price fell 0.61% yo 407.50p by 09:27.

NR