TIDMEKF
EKF Diagnostics Holdings PLC
08 March 2022
EKF Diagnostics Holdings plc
("EKF", the "Company" or the "Group")
Partnership secured with ABEC to support US biomanufacturing
expansion
Additional enzyme production capacity to accelerate EKF's
organic growth strategy
EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global
diagnostics business , announces that EKF Life Sciences, a division
of EKF which manufactures diagnostics enzymes and contracted custom
products for use in medical diagnostics, pharmaceutical and
industry, has signed a partnership agreement (the "Agreement") with
ABEC, Inc ("ABEC"), a leading global provider of engineered
solutions and services for biotech manufacturing.
The Agreement provides EKF Life Sciences' South Bend, Indiana
facility with customised, large-scale bioprocess equipment and will
include a 14,500 litre total volume stainless steel fermenter and
an 8,000 litre media preparation system. This will significantly
enhance EKF's production capacity of enzymes used in a variety of
diagnostic and Life Science applications, and is a positive
progression of the Group's strategy of investment to drive organic
growth through the expansion of EKF Life Science's fermentation
capabilities.
ABEC has over 45 years of experience in large-scale fermenter
design and complete in-house engineering and manufacturing
capabilities. ABEC will provide engineering services for EKF's new
fermentation facility to ensure optimal process performance and
seamless facility integration. The 14,500 litre fermenter will
feature ABEC's patented internal cooling panels, which will enable
efficient sanitation, optimal heat removal and the highest possible
fermenter productivity.
Scott Pickering, ABEC CEO and Chairman, said : "ABEC's
innovative technologies and complete turnkey solutions are unique
in the industry . We look forward to continuing to support EKF's
expansion and growth."
Mike Salter, CEO of EKF Diagnostics, said: "EKF Life Sciences is
dedicated to developing new products and capabilities that best
serve the in vitro diagnostic market on a global scale. The
partnership with ABEC is another important step in accelerating our
organic growth strategy. Their innovative equipment and resources
will enable us to quickly deliver our specific manufacturing
requirements and we look forward to working with them as we
continue to expand our biomanufacturing capabilities and
capacity."
EKF Diagnostics Holdings plc www.ekfdiagnostics.com
Christopher Mills, Non-Executive Chairman Tel: +44 (0)29 2071 0570
Mike Salter, CEO
Marc Davies, CFO
Singer Capital Markets (Nominated Adviser & Tel: +44 ( 0)20 7496 3000
Joint Broker)
Aubrey Powell / George Tzimas / Tom
Salvesen
Investec Bank plc (Joint Broker) Tel: +44 (0)20 7597 4000
Gary Clarence / Daniel Adams / Ben
Farrow
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com
Paul McManus / Lianne Applegarth Mob: +44 (0)7980 541 893 / +44 (0)7584 391
303
About EKF Diagnostics Holdings plc ( www.ekfdiagnostics.com
)
EKF is a leading point-of-care diagnostics and central
laboratory assay manufacturer with an estimated 80,000 hemoglobin,
hematocrit, HbA1c, glucose and lactate analysers in regular use
across more than 100 countries. EKF specialises in developing tests
for use in anemia and diabetes diagnosis and management, as well as
providing a portfolio of reagents for use in clinical chemistry
analysers.
EKF specialises in the development, production and worldwide
distribution of point-of-care analyzers and clinical chemistry
reagents for use in hospital and research laboratories, doctor's
offices, blood banks and for in-field anaemia screening programmes.
EKF is also a bulk manufacturer of enzymes and has custom
manufacturing facilities across sites in the US, UK and Europe for
a variety of life science products. Driven by customer demand EKF
has invested significantly in increasing the Company's fermentation
capacity. The Company's capabilities and capacity in contract
manufacturing for sample collection, tests and test kits have seen
dramatic growth following strong demand for during the COVID-19
pandemic, and these income streams are now being diversified for
application to other non-COVID areas of diagnostic testing,
molecular disease and forensic test manufacture.
In May 2021, EKF outlined its strategy through to 2024 for
delivering additional growth. As well as the growth expected in
Contract Manufacturing across Life Sciences, molecular diagnostics
and other applications, the Company expects to leverage existing
distribution channels for organic growth, both in the core business
and from additional products to expand the core range, but also
through executing earnings enhancing acquisitions and delivering
further value creating investments associated with the preferred
partnership agreement with Mount Sinai Innovation Partners.
In October 2021, EKF completed the acquisition of Advanced
Diagnostic Laboratory LLC, a Texas based testing laboratory
certified under the Clinical Laboratory Improvement Amendments
("CLIA") for high complexity testing. The laboratory provides
testing for a variety of clinical, forensic and microbiological
sample types using a range of analytical techniques. This
acquisition positions EKF as a leading 'one stop' provider of
diagnostic products and services from sample collection to
results.
About EKF Life Sciences (https://www.ekfdiagnostics.com/life-sciences.html)
EKF Life Sciences has been manufacturing enzymes and related
biomolecules from bacterial fermentation for use in IVD since 1983.
Since then, it has developed core competencies in technology
transfer to commercialization, and the scale up of fermentation
processes from bench top vessels to manufacturing large scale
stable and reliable enzymes. These enzymes can be consistently
produced in bulk scale for mass production of test kits.
With the continued development of microbial expression platforms
and the expanding interest in medical and industrial applications
for biologically produced intermediates and products, EKF Life
Sciences serves as a critical link in the evolution of improved and
environmentally sensitive manufacturing processes.
About ABEC ( https://www.abec.com/ )
Since 1974, ABEC has been a global leader in delivering
engineered process solutions and services for manufacturing in the
biotech industry. A majority of the world's pharmaceutical and
biotech companies are ABEC customers; with many of today's leading
therapies manufactured by processes and equipment engineered,
manufactured, installed and serviced by ABEC. ABEC's unique value
is based on long experience, complete in-house capabilities, a
custom, flexible approach, and long-term credibility. Whether
adding capacity or improving existing facilities, ABEC's turn-key
solutions and support
services reduce overall cost and time to market while delivering maximum productivity.
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