Bioventix’s increases profit in second half of 2016

Bioventix, a UK company specialising in the development and commercial supply of high-affinity monoclonal antibodies for applications in clinical diagnostics, has reported unaudited interim financial results for the six-month period ending 31 December 2016.

The company has reported profit of €2,3 million for the period, which is increase comparing to the same period last year when the company reported profit of €1,6 million.

Commenting on ongoing and future developments, the company said: “We reported in October on the progress of our troponin partner Siemens Healthcare Diagnostics and a high sensitivity troponin test which features a Bioventix-created antibody. Whilst the exact timing of a Siemens product launch is confidential Siemens information and will be dependent on their discussions with global regulatory authorities, the Board expects to hear news later in 2017 relating to their ex-US activities. Significant troponin revenues during the financial year 2017/2018 are expected to offset the loss of revenues of around £800,000 from another product due to the expiry of the relevant agreement.”