Abingdon Health Secures €2m Companion Diagnostic Contract
Why we think this is good
This contract win is a positive development for Abingdon Health, as it demonstrates the strength of the company's CDMO offering and expertise in companion diagnostics. The significant revenue opportunity, with most of the revenue expected in FY26, provides good visibility. While there are some execution risks with the 24-month timeline, Abingdon Health's proven capabilities in regulatory support and product development mitigate these concerns.
Key Points
- New c.€2 million contract win with a leading European biotech company
- Contract covers development, scale-up, technical transfer, manufacture and full regulatory approval support for a companion diagnostic lateral flow test
- Project expected to take 24 months, with most revenue in FY26
Summary
Abingdon Health, a leading international developer, manufacturer and distributor of rapid tests, has announced a new c.€2 million contract win with a leading European biotech company for the continued development and regulatory approval of a companion diagnostic lateral flow point of care test. The contract covers the optimisation, scale-up, technical transfer and manufacturing of the completed product alongside comprehensive regulatory support, including building the technical file, performance evaluation studies, clinical trial management, and regulatory submissions. The project is expected to take approximately 24 months, with most of the revenue falling into FY26.