News blog
Avacta Group
- BY: Andrew Hore |
- POSTED: 04/01/2011 |
Avacta Group has sold its first Optim unit in the US.
The unnamed buyer is one of the top ten pharma companies in the world. The US is around 50% of the addressable market for Optim. There are 30 more leads in the US.
Optim is a bench-top machine that can analyse very early stage drug compounds. They can be analysed using small sample sizes. The Optim costs around £100,000 and generates consumable revenues.
Avacta had £1.43m in the bank at the end of July 2010 but cash has been flowing out of the business.
At 1.01p a share, up 0.05p on the day, Avacta is valued at £14.6m.
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