Avacta extends reach of flagship device to India

DIAGNOSTICS group Avacta has signed a deal to sell and distribute its flagship Optim device, which is designed to speed up and reduce the cost of drug development, in India.

The Wetherby-based group said the agreement to extend its partnership with Pall Corporation marks Avacta’s entry to the third largest Asian-Pacific biotech market.

It follows on from the North American and South East Asian agreements which were signed in June and October last year.

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Alastair Smith, chief executive of Avacta Group, said: “I am delighted to announce that we have successfully signed another exclusive agreement with Pall. Pall have proven to be an excellent partner for Avacta and the success of our existing collaborations with Pall in North America and South East Asia have been a major factor in our decision to choose Pall as the sole distributor for Optim in India.

“We are very excited by the opportunities available in India and are now looking forward to working with Pall in this new territory.”

Avacta, which has a headcount in the mid 60s and is a spin-out of the University of Leeds, said last month it sold 21 Optim units in its latest financial year, compared to 14 the year before. Avacta claims that Optim can deliver vital information 10 times faster than other approaches using much smaller samples.

The Aim-listed company said the figures were “positive”, in a recent update to the stock market for the year ending July 31, 2012, adding that its overall year-on-year revenues have “grown significantly” and that its year-end balance “remains strong”.

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