Abingdon Health PLC Outcome of Judicial Review (2272C)

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RNS Number : 2272C

Abingdon Health PLC

07 October 2022

Abingdon Health plc

("Abingdon Health" or "the Company")

Outcome of Judicial Review

All claims brought by GLP dismissed

York, U.K. 7 October 2022: Abingdon Health plc (AIM: ABDX), a leading international developer and manufacturer of high quality, rapid diagnostic tests, notes the judgement by Mr Justice Waksman in relation to the Judicial Review proceedings initiated by the Good Law Project Limited ("GLP") against the Secretary of State for Health and Social Care ("DHSC") in which Abingdon Health is an interested party. Mr Justice Waksman has ruled in favour of the DHSC on all grounds, including lack of state aid to Abingdon Health and dismissed all claims brought by the GLP.

The judgement confirms that contract award decisions by the DHSC for the development and manufacture of lateral flow test kits for COVID-19 antibodies by Abingdon Health were lawful and complied with the principles of public law. All grounds brought by the GLP in this case were dismissed.

The monies received under these contracts totalled GBP10.3m (including GBP5.4m to cover reimbursement of stock and GBP0.2m in interest). This does not include a final GBP1.5m cash payment from the DHSC, currently held under charge until the outcome of the judicial review, that is now expected to be released, bringing the total amount paid to Abingdon by the DHSC to GBP11.8m (all amounts quoted exclude VAT).

Abingdon Health will release a further statement following consideration of the full judgement.

Enquiries

 
 Abingdon Health plc                                       www.abingdonhealth.com/investors/ 
 Chris Yates, Chief Executive Officer                                        Via Walbrook PR 
 Melanie Ross , Chief Financial Officer 
 Chris Hand, Non-Executive Chairman 
 
 Singer Capital Markets (Sole Broker and                            Tel: [phone] 
  Nominated Adviser) 
 Peter Steel, Alex Bond (Corporate Finance) 
 Tom Salvesen (Corporate Broking) 
 
 Walbrook PR Limited                     Tel: [phone] or [e-mail] 
 Paul McManus / Phillip Marriage                      Mob: [phone] 
  Alice Woodings                                                                     984 082 
                                                                         [phone] 
 
 

About Abingdon Health plc

Abingdon Health is a world leading developer and manufacturer of high-quality lateral flow rapid tests across all industry sectors, including healthcare and COVID-19. Abingdon is the partner of choice for a growing global customer base and takes projects from initial concept through to routine and large-scale manufacturing and has also developed and marketed its own labelled tests.

The Company offers product development, regulatory support, technology transfer and manufacturing services for customers looking to develop new assays or transfer existing laboratory-based assays to a lateral flow format. Abingdon Health aims to support the increase in need for rapid results across many industries and locations and produces lateral flow tests in areas such as infectious disease, clinical testing including companion diagnostics, animal health and environmental testing. Faster access to results allows for rapid decision making, targeted intervention and can support better outcomes. This ability has a significant role to play in improving life across the world. To support this aim Abingdon Health has also developed AppDx(R) , a customisable image capturing technology that transforms a smartphone into a self-sufficient, standalone lateral-flow reader.

Founded in 2008, Abingdon Health is headquartered in York, England.

For more information visit: www.abingdonhealth.com

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

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October 07, 2022 10:29 ET (14:29 GMT)