By Samuel Indyk
Investing.com – Shares in Abingdon Health were trading higher on Friday morning after the company announced it had signed an exclusive manufacturing agreement with BioSure Limited.
Under the terms of the agreement, Abingdon Health (LON:ABDX) will manufacture BioSure’s own lateral flow tests to detect Covid-19.
The contract manufacturing services will use the lateral flow facilities at Abingdon’s sites in York and Doncaster, UK.
The exact size and financial details of the agreement were not disclosed.
Speaking on the deal, Abingdon Health Chief Executive Chris Yates said: “We are delighted to be supporting BioSure and building on our long-term collaboration with the BioSure team.
“We are committed to supporting the deployment of these much needed lateral flow test to the UK and international markets.”
BioSure Chief Executive Brigette Bard said: “We are thrilled to be continuing to build our portfolio of products with Abingdon.
“BioSure is committed to delivering British developed tests to the global market and Abingdon are our ideal partner to manufacture our world-leading products.”
At 10:06BST, shares in Abingdon Health were trading higher by 7.4% at 43.39 pence per share.