Key milestone achieved with commencement of NATlab pre-clinical validation
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LEI: 213800FLQUB9J289RU66 BATM Advanced Communications Limited |
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Key milestone achieved with commencement of NATlab pre-clinical validation Latest phase begins at major Italian hospital following successful completion of pre-clinical trials BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce that the NATlab molecular biology platform being developed by ADOR Diagnostics (“ADOR”), an associate company of the Group, has commenced pre-clinical validation at the Lazzaro Spallanzani National Institute for Infectious Diseases in Rome, Italy. This marks a key milestone in the development of NATlab and, the Group believes, will enable initial sales as well as increase industry awareness and interest from prospective partners. The advanced NATlab molecular biology platform is a point-of-care sample-to-answer solution designed to provide rapid and accurate diagnosis of infectious disease. It uses a patented isothermal amplification method for syndromic multiplex diagnostics to be able to rapidly identify a broad range of pathogens from a single test. The commencement of the pre-clinical validation phase follows the successful completion of pre-clinical trials, which were conducted at the Tzafon Medical Center in Israel, to confirm the validity of the biological process that ADOR has developed and that it can be performed within the NATlab cartridge and analyser device. NATlab identified all negative samples and had a 97% sensitivity for the positive samples, confirming the efficacy of the system and its ability to out-perform competing solutions available in the market today because of its multiplex diagnostic capability for rapid and accurate diagnosis. ADOR has now made significant progress with NATlab with the full system entering the pre-clinical validation phase at the Lazzaro Spallanzani National Institute for Infectious Diseases in Rome, a leading centre for infectious disease research and treatment. Successful completion of the pre-clinical validation is expected to enable initial sales of the NATlab and the commencement of the regulatory process under the European Union In Vitro Diagnostic Medical Device Regulation to become eligible for sale in the EU market. In addition, following the success of the pre-clinical trials, ADOR, in collaboration with the Tzafom Medical Center, has received a grant from the Israel Innovation Authority to develop a NATlab panel for the diagnosis of stomach ulcers. The total value is NIS 3.4 million (c. $1 million), which is to be granted over two years based on the achievement of milestones. Moti Nagar, Chief Executive Officer of BATM, said: “The commencement of the pre-clinical validation phase at a major European hospital is an important milestone in the development of NATlab and represents a key stage towards enabling its market entry. This also follows the successful completion of pre-clinical trials, which delivered excellent results. As the value of the substantial IP that has been built within ADOR continues to increase as well as the industry awareness of the attractiveness of the NATlab solution, we remain excited about its prospects and look forward to reporting on further progress.” Enquiries: BATM Advanced Communications Forward-looking statements This document contains forward-looking statements. Those statements reflect the current opinions, evaluations and estimations of the Group's management, and are based on the current data regarding the Group's business as is detailed in this document and in the Group's periodical, interim and immediate reports. The Group does not undertake any obligation or make any representation that actual results and events will be in line with those statements, and stresses that they may differ materially from those statements, due to changes in the Group's business, market, competition, demand for the Group's products or services, general economic factors or other factors that can influence the Group's business and results, due to the risk factors that are detailed in the Group's Annual Report, and due to information and factors that are currently unknown to the Group's management and that, if known, would affect the management's opinions, evaluations or estimations. The Group will report the actual results and events according to its legal, accounting and regulatory obligations, and does not undertake any other obligation to report them or their deviations from the forward-looking statements, or to update any of the forward-looking statements in this document or to report that it is not valid anymore. |
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