Testing deal for Avacta
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DIAGNOSTIC technology firm Avacta has agreed a deal to supply a major global laboratory firm.
Avacta will supply IDEXX with a test which helps detect inflammation or infection in dogs.
It developed the testing kit from intellectual property held by Reactivlab, the Glasgow-based company it bought two years ago.
Alastair Smith, chief executive of Avacta, said: “I am very pleased that we have quickly generated the first commercial product from the acquired intellectual property and gone on to achieve a supply agreement with the market leading veterinary diagnostics business.
“IDEXX is a tremendous commercial partner for Avacta Animal Health’s tests and products. Their global reach and well-respected position in the veterinary diagnostics market should deliver scale to this opportunity rapidly.
“I anticipate that further acute phase protein test kits will be completed shortly so that we can expand the menu and this important commercial relationship.”
IDEXX is a $1.2bn turnover business with operations around the world. More than 80% of its revenues come from supplying veterinary practices.