The acquisition is expected to broaden Avacta’s presence in the veterinary diagnostic products arena. According to the company, the lower regulatory hurdles associated with the veterinary market allow for near-term opportunities.
YTVS provides a complete allergy-testing service to veterinary practices in the UK, the EU and worldwide. Its technology enables the analysis of blood samples from dogs, cats and horses to assist in the diagnosis and treatment of adverse reactions to food, pollen, insects and mould.
Avacta, based in Heslington, York, has already worked with YTVS to develop a new veterinary diagnostics technology, dubbed MIDAS, with broad use across a range of animal healthcare including allergy testing, which it expects to launch later this year.
Alastair Smith, chief executive officer of Avacta, said: ‘The development of veterinary diagnostic products and services is a key theme in Avacta’s growth strategy and YTVS provides the group with a well-established and well-respected route to market, as well as a very experienced management team with in-depth knowledge of the veterinary market requirements worldwide.’