ASD Axis-Shield

TIDMASD

RNS Number : 5117Q

Axis-Shield PLC

20 October 2011

AXIS-SHIELD PLC

ACTIVE-B12 ASSAY LAUNCHED ON ABBOTT DIAGNOSTICS' ARCHITECT(R) SYSTEM

Effective early marker of vitamin B(12) deficiency now available on flagship Abbott platform

Dundee, Scotland, 20 October 2011. Axis-Shield plc (LSE: ASD, OSE: ASD) ("Axis-Shield" or the "Company"), the international and innovative in vitro diagnostics company, today announces that it has completed the development of an Active-B12 assay for the high throughput ARCHITECT(R) analyser system marketed to clinical laboratories by Abbott Diagnostics (NYSE: ABT), headquartered in Chicago, USA.

The product has now been launched by Abbott outside the USA and is being manufactured in Axis-Shield's facility in Dundee. Active-B12 is currently only available on Abbott's older AxSYM(R) platform and sales are expected to improve significantly through test availability on the popular ARCHITECT(R) system.

The global vitamin B(12) testing market is estimated to be worth around $50 million annually and Axis-Shield believes that its patented Active-B12 assay has the potential to capture a significant share of this growing market. Research continues to show that measuring Active-B12 is more efficient in assessing vitamin B(12) deficiency than the detection of total vitamin B(12) and many recent publications and scientific presentations on Active-B12 have stimulated substantial interest in this analyte. There is increasing evidence that low vitamin B(12) is linked with cognitive decline and elevated plasma homocysteine and this association may help to further increase market size.

Ian Gilham, Chief Executive Officer of Axis-Shield, commented: "We are pleased that this important assay will now be available on Abbott's flagship analyser, which marks an extremely positive development for our future business and for the licensing of Active-B12. Sub-clinical deficiency of vitamin B(12) is becoming increasingly recognised as a risk factor for serious conditions and we expect this to drive growing demand for our Active-B12 test."

--Ends--

For further enquiries, please contact:

 
 Axis-Shield plc 
 Ian Gilham, Chief Executive Officer                                   Tel: +44 203 178 7849 
  Ronny Hermansen, Finance Director 
 
  M:Communications 
 Peter Laing / Emma Thompson / Claire Dickinson                        Tel: +44 207 920 2330 
                                                            E-mail: axisshield@mcomgroup.com 
 Corporate Communications (Norway) 
 Geir Bjorlo / Hakon Ronning                                            Tel: +47 23 89 89 30 
 

Notes for Editors

About Axis-Shield

Headquartered in Dundee with R&D and manufacturing facilities in Dundee and Oslo, Axis-Shield is a leading international and innovative company operating in faster growing segments of the in vitro diagnostics (IVD) market. Axis-Shield provides point-of-care testing via its Afinion(TM) and NycoCard(R) instruments and also serves the clinical laboratory through the development of novel tests, particularly for the high throughput analysers of blue-chip original equipment manufacturers (OEMs). The Company has a strong franchise in the diabetes testing market and is developing a cholesterol/lipid panel for testing at the point-of-care, both major areas for future growth. Through its Direct Distribution division, Axis-Shield also markets its own and other third-party products including medical devices to end users in key markets including the USA, Germany, Switzerland, the UK and the Nordic region. For more information on Axis-Shield, please refer to www.axis-shield.com

About Abbott

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs approximately 83,000 people and markets its products in more than 130 countries.

Abbott's news releases and other information are available on the company's Web site at www.abbott.com

This information is provided by RNS

The company news service from the London Stock Exchange

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