Avacta signs distribution deal for Covid-19 self-test under development
The prospect of consumers being able to self-test for Covid-19 in minutes moved closer after Avacta signed an exclusive distribution deal with Medusa19.
The Whittlesford-based biotherapeutic company - which is planning a £45million fundraising to support its growth - has developed Affimer reagents that detect the SARS-CoV-2 virus spike protein.
It is supplying these to the multinational life science company Cytiva to develop into a saliva-based rapid antigen test strip, which will enable consumers, businesses and healthcare professionals to find out if they have the Covid-19 infection in minutes.
Now Avacta has signed a deal, including a profit-sharing arrangement, with Medusa19 to supply the rapid test directly to consumers globally, subject to regulatory approvals being achieved.
Medusa19 has been launched by Richard Hughes and Mahmud Kamani - founder shareholders of Boohoo.com and shareholders in Avacta - with the aim of building a global consumer self-testing business.
They are investing in global e-commerce, logistics and customer support infrastructure in preparation for the launch of the test.
Medusa19 will also have non-exclusive rights to supply the tests to businesses for workforce testing.
Avacta CEO Dr Alastair Smith said: “I am delighted to have entered into this distribution agreement with Medusa19, which will provide a global route direct-to-consumer for Avacta’s rapid point-of-care Covid-19 antigen test. The potential size of this market, and the expected demand from businesses for workforce screening, is substantial.
“The significant investment that Medusa19 is making in conjunction with the track records of the Medusa19 team, gives me great confidence in the rapid growth of direct-to-consumer sales of the Avacta Covid-19 test across the United Kingdom, European Union and the United States subject to the necessary regulatory approvals. I expect the commercial impact of this partnership to be very significant to Avacta.
“I am looking forward to working with the Medusa19 team on commercialising the Covid-19 rapid test and other consumer diagnostic tests that Avacta develops in the future, in line with the group’s Affimer diagnostics strategy.”
Avacta said the capacity could be “many millions” of tests per month, and anticipates the need for this type of test for several years if the disease recurs.
The Medusa19 founders said: “We immediately recognised the global opportunity to distribute the simple and unique saliva-based Covid-19 rapid test being developed by Avacta based on their unique and powerful Affimer platform.
“Medusa19 will enable end-to-end supply of these tests on a global basis subject to regulatory approval and manufacturing capacity which will be key. The enormous, world-wide demand for these tests requires a robust and scalable platform which we are in the process of creating. Hundreds of millions of tests are required and this demand will continue.
“The test being created by Avacta and its partners is intended to enable an individual with the Covid-19 infection, whether they have symptoms or not, to be identified before antibodies have been generated by the body. Given this test will be saliva based, it could be used in airports, offices, factories and in the home environment, providing a result within minutes and with no requirement for medical supervision. It is potentially ground-breaking and a major step forward in the fight against Covid-19.
“We look forward to working with Alastair and his team and to distributing other Avacta products as they become available in due course.”
Read more
Prototype saliva test for Covid-19 ‘ready in weeks’ after Avacta ships Affimer reagents to Cytiva
Fresh hope of Covid-19 therapy as Avacta reveals its Affimer reagents block key virus interaction
