24th Jan 2014 08:29
LONDON (Alliance News) - Avacta Group PLC Friday said trading for the first half of its financial year was in line with market expectations, driven by good progress at its analytical unit.
In a statement ahead of its annual general meeting, the provider of proprietary diagnostic tools, consumables and reagents for human and animal healthcare, said its analytical unit had done well since launching its re-engineered Optim2 product early in 2013, with strong growth in the number of units shipped.
Chief Executive Alastair Smith said the animal health unit is continuing to expand outside its traditional focus on allergy test and will be launching further new test kits to its portfolio in coming months.
Smith added that the life sciences unit its making "good progress" towards its first commercial offering of a custom Affimer reagents service.
Avacta Group Chairman Gwyn Humphrey will step down at the annual general meeting, being replaced by Trevor Nicholls. Nicholls was previously chief commercial officer and executive vice president of life sciences company Affymetrix.
Avacta shares were up 1.5% at 1.137 pence early Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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