Major new customer for COVID-19 diagnostic tests
5 October 2020
BATM Advanced Communications Limited
("BATM" or "the Group")
BATM receives initial €4.3m order from major lab for COVID-19 diagnostic tests
New significant customer order for Real-Time PCR test kits and instruments to be delivered this year
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is delighted to announce that it has received an initial €4.3m order for its COVID-19 Real-Time PCR diagnostic test kits and instruments. The order is from a major new customer and is to be delivered during Q4. The Group also provides an update on its new diagnostic tests being developed for respiratory diseases.
The new customer is a significant global private laboratory group headquartered in Italy that provides COVID-19 testing throughout Europe, primarily for large businesses such as airports. The order is for the Group's Real-Time PCR (antigen) test that diagnoses whether an individual is currently infected with SARS-CoV-2, the virus that causes the disease Coronavirus 2019 (COVID-19). The customer has also purchased, as part of the same order, the Group's Ampilab qPCR and Extralab extractor instruments. BATM expects to receive further significant orders from this customer during Q4 and over the next 12 months.
The Group's Ampilab 6 band qPCR instrument can run all standard test kits, but also advanced 5 (4+1) gene kits, such as the Group's newest COVID-19 antigen kit, with great speed and accuracy. As a result, it is a very cost efficient solution for labs.
In addition, the Group is pleased to provide the following progress updates on its new testing kits:
· The Group has started to deliver its COVID-19 antigen kit that was upgraded to detect the spike (S) protein, as announced on 15 July 2020. By being able to detect the S gene, this test can provide more accurate results by identifying the virus even in those with a low viral load, which is important in preventing non- and pre-symptomatic individuals from unknowingly spreading the infection.
· The new multi pathogen respiratory kit, also announced on 15 July 2020, is in the final validation phase and production and deliveries are expected to commence during Q4.
· Production is commencing of the Group's jointly-developed home test kit for flu after being CE certified and validated.
· The Group is making strong progress with the jointly-developed COVID-19 home test kit, which is at an advanced development stage.
Dr Zvi Marom, Chief Executive Officer of BATM, said: "We are pleased to have received this order from a new significant customer for our COVID-19 test kits and diagnostic instruments. The substantial interest in these solutions is growing as the pandemic prevails throughout much of the world and we head towards flu season. We believe that we will receive further sizeable orders from our existing customers as well as continue to gain new customers for these products.
"We are also delighted with the progress that we have made with our newly-developed tests for COVID-19, flu and other respiratory disease. Thanks to our innovative diagnostic platform, we can offer a high-quality comprehensive solution to help protect public health in the current pandemic and beyond."
BATM Advanced Communications
Dr Zvi Marom, Chief Executive Officer
+972 9866 2525
Moti Nagar, Chief Financial Officer
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
Henry Willcocks (Corporate Broking)
+44 20 7408 4050
Harry Chathli, Claire Norbury
+44 20 7618 9100