SYGNIS AG, under the Innova Biosciences (Innova) brand name, a specialist provider of bioconjugation products and services, today announced it has established a partnership with Abingdon Health Ltd (“Abingdon”), which will enable Innova to provide its customers with full lateral flow assay development services as well as establishing Innova as the preferred colloidal gold supplier to Abingdon.
The global market for lateral flow assays is growing at 16% per annum and projected to be worth USD 8.2 billion by 2022. This growth is driven by the high prevalence of infectious diseases worldwide, and the rising demand for point-of-care testing, a market predicted to reach USD39.96 billion by 2021. The partnership opens up an exciting opportunity for both companies to reach this rapidly expanding market, combining Innova’s in-house expertise in supporting lateral flow assay development from initial idea through to research and development, and automated lateral flow manufacturing from Abingdon, with the capacity to produce millions of rapid tests annually. In addition, the SYGNIS Group will have access to Abingdon ADXLR5 reader systems, extending the SYGNIS group’s custom lateral flow assay (LFA) services to include bulk manufacture.
As a result of this partnership, Innova is now able to offer a full custom LFA service, from proof-of-principle dipsticks, to full strips, sample pads, conjugate pads and absorbent pads, and subsequent transfer to small commercial or bulk manufacture.
Alastair Carrington, VP of Business Development & Marketing at Innova Biosciences, a SYGNIS company, commented: “There has been a long standing relationship between Abingdon and Innova. I am very pleased we are now able to set up a commercial partnership that brings together two innovative, industry leading organisations, with a clear complementary synergy to provide a total solution to the lateral flow community.”
Chris Yates, CEO of Abingdon Health, commented: “We are pleased to launch our collaboration with Innova. The provision of Innova’s bioconjugation expertise supports our strategy to provide a best-in-class lateral flow assay and reader development and manufacturing service to our contract customers.”