Member Article

Wetherby's Avacta nearly doubles revenue and reduces losses

Wetherby-based Avacta Group plc, a provider of diagnostic tools for human and animal healthcare, has announced an increase in revenue of 40% to £1.61 million (2013: £1.15 million)

They also reported that underlying operating loss reduced to £0.65m (2013: £0.96m)so that reported loss after tax reduced to £0.50 million (2013: £0.81 million)

Alastair Smith, CEO, commented: “I am pleased with the performance across the Group overall and in particular with the excellent progress in Avacta Life Sciences.

“The technical performance of Affimers which demonstrates their competitive advantage against antibodies is now established with good supporting data and it is particularly pleasing to see first revenues.

“It is an exciting time for the Group which is poised for growth not only through its existing businesses in Avacta Animal Health and Avacta Analytical, which are both growing and now contributing positively, but also through the enormous potential for the commercial exploitation of our Affimer platform and I look forward to reporting on progress in all areas in the coming months.”

This was posted in Bdaily's Members' News section by Clare Burnett .