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.

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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