Avacta in US tie-up
DRUG technology company Avacta said today it has signed an agreement with the Pall Corporation to develop and market its Optim drug analysis system in North America.
York-based Avacta is a biophysics company which provides high value technologies and services to the pharmaceutical and diagnostics markets.
Its Optim system has been developed to help companies develop drugs more quickly.
Pall is a global technology leader in the filtration, separation and purification industry. Its life sciences business accounts for roughly half of Pall’s revenue and is focused on the process of drug discovery and development.
Its products are used extensively in the research laboratory, pharmaceutical and biotechnology sectors.
Avacta said the agreement provides it with a “powerful” commercial and scientific partner in a critical market, which will contribute substantially to business growth.
Avacta recently reported its first sale and installation of an Optim unit in the US and will now work with Pall to address growing interest in the market.
As part of this initiative, it has also agreed to place Optim units into two US university biopharmaceutical research laboratories.
Avacta’s chief executive Alastair Smith said: “This is a very significant agreement for Avacta and I expect it to be transformational for the group. It provides a world class commercial and product development partner in the strategically critical North American market and potentially wider afield.
“Optim is a powerful tool designed to reduce the costs associated with developing and manufacturing biological products and this sales and marketing agreement with Pall has significantly enhanced our prospects of exploiting Optim’s significant market potential throughout the wider bioprocess market.
“We are very excited about the potential of this collaborative relationship and I look forward to keeping the market updated as this commercial partnership develops and assists Avacta in delivering its strategic objectives.”
