Accura Animal Health Plc
LSE : ACPO

May 01, 2008 02:07 ET

Accura Animal Health Plc: New Diagnostics to Be Launched by Leading UK Veterinary Company Genitrix in an Exclusive Deal

LONDON, UNITED KINGDOM--(Marketwire - May 1, 2008) - Accura Animal Health Plc (ACPO) 'Accura', the PLUS quoted veterinary pharmaceutical and diagnostics company announced today that its wholly owned subsidiary, Tridelta Development Limited, has signed a collaborative agreement with Genitrix Limited for the distribution in the UK of Accura's rapid point of care test for C-Reactive Protein ('CRP') (an Acute Phase Protein) in dogs. This test is the first in a series of veterinary diagnostic products in a convenient, single use format based on Accura's existing laboratory diagnostic products which are currently used by leading pharmaceutical companies and universities in 30 countries.

The detection of Acute Phase Proteins has been used in human medicine for decades. These proteins are general indicators of health and are either absent or present at very low concentrations in the blood when an individual is healthy. However, the levels of these proteins in blood rise rapidly and significantly in response to a problem, increasing up to 1,000 fold when compared with the levels detected under normal conditions. The test provides very useful information in establishing the overall general state of health of the animal and reduces the reliance on the use of a wide range of specific and potentially expensive tests.

Genitrix Ltd was established in early 1998 and has grown every year since then to become one of the UK's most respected veterinary specialists. Its portfolio of products is steadily increasing not only through its own product development but also through licensing products that give novel solutions to well recognised veterinary problems. Its main focus is on products for companion animals, not only cats and dogs, but also rabbits, guinea pigs, small rodents, horses and reptiles. Genitrix markets pharmaceuticals and related products to veterinary practices across the UK and employs a team of sales people with veterinary expertise to give full national coverage. According to published market research data, it was the UK's fastest growing veterinary pharmaceutical company in 2006 and 2007.

'We have been looking for a rapidly growing veterinary pharmaceutical company that can take our diagnostics directly to the veterinary professionals' said Bernard Ross, CEO of Accura, 'Genitrix, has a professional sales force that can detail the benefits of the CRP Acute Phase Protein test and help establish it as the first in a range of Accura diagnostic products for the veterinary professional. It is anticipated that this agreement will be followed by further agreements for other European countries, the USA and Japan.' he added.

The four year agreement, with provision for extension, provides Accura with guaranteed minimum sales for each year. Under the terms of the agreement, Genitrix will act as the exclusive distributor of the CRP test in the UK and will be responsible for developing the market with veterinary professionals. There are several species related products in the portfolio; the first, for dogs. The Acute Phase Protein Test under development will be produced in a convenient single use format and Genitrix expects to launch it to the UK veterinary community in early 2009 providing revenues to Accura in the current financial year.

'We have built a fast growing business based on the aggressive introduction of products that we know veterinary professionals need and use. The Acute Phase Protein range of diagnostics fills a need for vets to help them decide if it is medically relevant to put a pet through a range of diagnostic tests which may not always be appropriate and which may be traumatic and costly,' commented Howard Wilder, Managing Director of Genitrix. 'In adding Accura's rapid point of care test for C-Reactive Protein to our portfolio, not only do we have access to an exciting new product for our skilled sales team to take to UK vet practices, but we also gain a product with an intellectual property attached to it so we can invest heavily in marketing, knowing that the market we build will generate sustainable revenues.'

The directors of the issuer accept responsibility for this announcement.

Contact Information

  • Accura Animal Health Plc
    Bernard Ross
    CEO
    07771 665560
    or
    Genitrix Limited
    Howard Wilder
    Managing Director
    01403 786345
    or
    De Facto Communications Limited
    Anna Dunphy / Mike Wort
    020 7861 3838