This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Abingdon Health plc
("Abingdon Health", the "Group" or the "Company")
Trading update
Revenue for FY25 in line with market expectations of £8.6m
Continued strong revenue growth anticipated in FY26
York, U.K. 5 August 2025: Abingdon Health plc (AIM: ABDX), a leading international developer, manufacturer and regulatory services provider for rapid tests and med-tech, provides a trading update for the financial year ended 30 June 2025 ("FY25").
Commercial and Operational Highlights
· Continued growth of contract development and manufacturing organisation ("CDMO") activities with several large contracts secured during FY25 and post period-end including:
o Contract win for US$2m for development of sexually transmitted disease tests running across 2025 and into 2026.
o Funding award of £800,000 via UK Research and Innovation alongside a distinguished group of partners to develop point-of-care rapid diagnostic tests for malaria .
o Strategic partnership s with Okos Diagnostics to jointly develop and commercialise avian flu (H5N1) lateral flow kits for bovine health and human applications.
o €2m CDMO contract win for companion diagnostic test covering development, scale-up, technical transfer, manufacture and full regulatory approval support with a European biotech company.
o Additional CDMO contract win for development and regulatory approval of a companion diagnostic lateral flow point of care test, with a global pharmaceutical company expected to generate c. US$2.5m revenue over a 24-month period.
· Expansion of integrated CDMO service offering with:
o Acquisition of regulatory service provider Compliance Solutions (Life Sciences) in August 2024 for a maximum consideration of up to £3.2 million in cash and shares.
o Opening of Abingdon Analytical Ltd, analytical services and performance evaluation laboratory, in existing premises in Doncaster in December 2024.
· Integration of CS Lifesciences well underway and contract wins, including one for >£500k which has since been extended, underpinning significant growth potential in FY26 and beyond.
· Opening of US CDMO service site , including a commercial office and laboratories, in Madison, Wisconsin, which was fully operational by April 2025.
Financial Highlights and Outlook
· Revenue for FY25 expected to be in line with market expectations of £8.6m (FY24: £6.1m).
· Cash at bank and in hand of £1.9m (31 December 2024: £3.7m; 30 June 2024: £1.4m).
· Recent acquisitions (IVDeology and CS Lifesciences) trading in line with management expectations.
· Investments made in new ventures (Abingdon Analytical Ltd and Abingdon Health USA Inc.) supporting new contract wins.
· The Board is confident of continued strong revenue growth based on the above contract successes and continues to target a cash-flow positive position in calendar year 2026.
The financial update above is provided subject to finalisation of the Group's results for FY25 which are expected to be published in October 2025. Notice of results will be provided in due course.
Dr Chris Hand, Executive Chairman of Abingdon Health plc, commented : "We are pleased to announce in-line revenues are expected for FY25 and confirm that initial progress in FY26 gives us confidence of continued strong revenue growth . The investments and acquisitions the Company made during FY25 have significantly strengthened our full service offering. We are now able to offer a fully comprehensive CDMO service with the increasing importance of a regulatory and performance evaluation skill set in addition to our research and development, scale up and manufacturing expertise. This resonates well with our current and prospective clients as evidenced by recent contract wins."
Enquiries:
| Abingdon Health plc |
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| Chris Hand, Executive Chairman |
Via Walbrook PR |
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| T om Hayes, CFO |
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| Zeus (Sole Broker and Nominated Adviser) |
Tel: +44 (0)20 3829 5000 |
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| Antonio Bossi / Jacob Walker (Corporate Finance) |
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| Fraser Marshall (Corporate Broking) |
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| Walbrook PR (Media & Investor Relations) |
Tel: +44 (0)20 7933 8780 or abingdon@walbrookpr.com |
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| Paul McManus / Alice Woodings |
Mob: +44 (0)7980 541 893 / +44 (0)7407 804 654 |
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About Abingdon Health plc
Abingdon Health Group is a leading med-tech contract service provider offering its services to an international customer base.
The Group's CDMO expertise offers lateral flow 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 has the internal capabilities to take lateral flow projects, in areas such as infectious disease and clinical testing, including companion diagnostics, animal health and environmental testing, from initial concept through to routine manufacturing; from "idea to commercial success". Abingdon Analytical Ltd offers performance evaluation for lateral flow and other in vitro diagnostic assays from its Doncaster laboratory.
Abingdon's regulatory services companies, Compliance Solutions (Life Sciences) and IVDeology , provide a broad range of regulatory services to the in vitro diagnostic and wider medical device industry, to support customers in bringing products to market across a range of territories including the USA, EU and the UK. Our consultancy services range from design, implementation and maintenance of quality management systems, preparation of technical files for regulatory approvals, part-time and interim management support, auditing both internal and external, management reviews and presentations, training and mentoring.
Founded in 2008, Abingdon Health is headquartered in York, England with laboratories in Doncaster, England and laboratories and commercial offices in Madison, Wisconsin, USA.
Abingdon Health's brochure outlines the comprehensive support the Group can now provide to its international customers. For more information visit: www.abingdonhealth.com .
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