More great news from #AVCT: it has developed a research use only ('RUO') ELISA test for #COVID19.

There are also a number of very helpful snippets and implications in the RNS and in the CEO presso below, concerning the development of the other #COVID19 diagnostic products.

1/12 https://twitter.com/avacta/status/1302863360661352448

#AVCT has previously referenced its ELISA only once before (0.7.08.20), as the commercial opp is not nearly as large as that of its LFT.

As a RUO tool for labs, it will not require CE Marking / other approval. Sales should start this month.

However, that isn't to say... 2/12

...that sales will be insignificant. As the analyst at TPI points out:

"The scale of the potential long-term market opportunity identified is considered large enough for #AVCT to now be having active discussions with potential OEM partners and distributors globally."

3/12

To re-iterate: there are no regulatory hurdles for the ELISA test to overcome. Cash generation will commence this month. There'll be no profit share with the likes of Cytiva / Adeptrix.

The immediate commercial boost for #AVCT created by this test should not be discounted.

4/12

There aren't many #COVID19 ELISA tests on the market, but it appears that #AVCT's is first-in-class. AVCT's test is ~500x more sensitive than that of fellow AIM peer, Abcam #ABC.

Suffice to say that it is straightforward to see AVCT's ELISA becoming the industry standard.

5/12

Moreover, Affimers as a platform tech (being superior to monoclonal antibodies) will become much more widely known in the global scientific research community - a point well made by the analyst at finnCap today.

So the ELISA test alone is a fabulous development for #AVCT.

6/12

However, it is in the read-across to #AVCT's LFT that is most exciting. The Affimer reagents being used in the ELISA test are the same as those being used in the LFT, as well as the BAMS test.

The ELISA test "can detect as little as a few thousand virus infectious units...

7/12

...per millilitre of sample. This is typical of the levels found in infectious COVID-19 patients' saliva whether they are symptomatic or not."

In short, #AVCT's LFT should likewise be capable of picking up asymptomatic cases.

This is the critical tool the world is after. 8/12

Hancock referenced such a test as "the Holy Grail".

Saliva sampling greatly assists in enabling self-administration (over nasal swabbing) - especially re children...

But it's the superiority of Affimers over antibodies that is key in #AVCT producing a first-in-class LFT.

9/12

Analytical validation of #AVCT's LFT has occurred over the past month, with Cytiva having provided a batch of prototypes to LSTM. Thus we COULD hear of the S/S in the immediate future.

However, it may be that #AVCT does not publish the LFT's S/S until clinical validation.

10/12

In any event, as Trump did with $ABT's new test, I think the UK gov will be acquiring, at the least, the first several months of #AVCT's entire manufacturing capacity.

As Hancock is now alluding to an LFT that can only possibly be AVCT's, I think one can deduce that the..

11/12

analytical validation of #AVCT's LFT carried out by LSTM more than met mgmt's, and the gov's, expectations.

For me, the implications of today's developments, for the LFT, have not been properly processed by the market.

Fantastic work by the @avacta team once again. 12/12