Partnership secured with ABEC
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."
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EKF Diagnostics Holdings plc |
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Christopher Mills, Non-Executive Chairman |
Tel: +44 (0)29 2071 0570 |
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Mike Salter, CEO |
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Marc Davies, CFO |
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Singer Capital Markets (Nominated Adviser & Joint Broker) |
Tel: +44 ( 0)20 7496 3000 |
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Aubrey Powell / George Tzimas / Tom Salvesen |
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Investec Bank plc (Joint Broker) |
Tel: +44 (0)20 7597 4000 |
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Gary Clarence / Daniel Adams / Ben Farrow |
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Walbrook PR Limited |
Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com |
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Paul McManus / Lianne Applegarth |
Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 |
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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 processsolutions and servicesfor manufacturing in the biotech industry. A majorityofthe world'spharmaceuticaland biotechcompanies are ABEC customers; with many of today'sleading therapies manufacturedby processesand equipmentengineered, manufactured,installed and servicedby ABEC. ABEC'sunique value is based on long experience, completein-house capabilities, a custom, flexible approach, and long-term credibility. Whether adding capacity orimproving existing facilities,ABEC's turn-key solutions and supportservicesreduce overallcostand time to marketwhiledelivering maximum productivity.
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