Avacta Group, a York-based pharmaceutical technology company, has received a second order for its Optim product from a major global biopharmaceutical group.
The company claims that its Optim technology fills a gap in the market by providing detailed drug analysis using only very small sample volumes. This allows drug developers to gain vital information about product performance at the initial stages of product development, when limited amounts of the material are available.
The system is claimed to deliver results in a fraction of the time compared with existing methods and, at a cost of around £100,000, it can deliver significant cost savings for drug companies.
Alastair Smith, chief executive at Avacta Group, said that the latest order for the product was an encouraging result for the group, which hopes to extend its technology to the chemical and food industries as well as the academic life-sciences research sector.
‘I am extremely pleased to announce our second order for Optim, received very shortly following the first, which was announced last week,' he added. 'This is a clear manifestation of the strong sales pipeline that I reported on and further supports our confidence in future sales levels.
‘Optim has been received by potential customers enthusiastically as a unique tool that will allow them to characterise their drug compounds at an early stage of development and provide information that will help reduce the risk of product development and ultimately reduce the cost to patients of these new drugs. The value proposition to the end user is very compelling.’