21/07/2008
The Chinese authorities have granted diagnostic specialist Axis-Shield a patent for its ‘Afinion’ point-of-care testing technology.
The fully listed company, which focuses on in-vitro diagnostics, says the patent grant, which follows similar awards in Europe and Japan, will protect key elements of Afinion’s technology and its new disposable cassette system from unauthorised copying. Chief executive officer Ian Gilham says Dundee-based Axis-Shield is already building ‘a solid business in China’, particularly with its ‘HbA1c’ test for diabetes, and argues that ‘substantial potential’ also exists for Afinion in the Chinese market.
Shares in Axis-Shield, which fell from 393.5p to 215.75p between April 2006 and June last year, have now rallied to 285p, up 2p this morning, valuing the company at nearly £140 million. If its products make significant inroads, they could make further progress.
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