Avacta on acquisition trail as sales rise

STRONG sales of a product that aids drug development has boosted Avacta Group’s confidence.

The York-based Leeds University spin-out said today that its flagship product Optim had received a strong response from marketing activity and that a pipeline of lead customers had been created, which will support its 2010 sales targets.

The coming months will see further commercial promotion of Optim – a revolutionary bench top instrument that provides drug developers with information at the early stages of development.

Avacta said it had appointed a sales and marketing director to help drive Optim sales and promote its analytical services.

The group has also seen sales in recently acquired YorkTest Veterinary Services rise 14% on the same period last year.

It said it had expansion plans for the business, which has changed its name to Avacta Animal Health, including the launch of a new genetic test and new diagnostic products.

Other new products include trace gas analysis technology, the protoype of which has been delivered to an industry partner.

Avacta has been busy in the deals market in recent months acquiring not only YorkTest Veterinary Services but Curidium Medica, and Theragenetics. The three companies were acquired for a total of around £10m.

Its most recent acquisition is Oxford Medical Diagnostics.

Avacta said it was still on the acquisition trail as part of its strategy to establish the company as a significant provider of products and services in the life sciences sector.