StockMarketWire.com - Healthcare company Concepta said it had agreed to outsource manufacturing for its fertility tracking and pregnancy testing system to cut costs and allow it to focus on product commercialisation.

The company signed agreements with Abingdon Health, a UK rapid test developer and manufacturer, to acquire Concepta's lateral flow test manufacturing site in Doncaster, for the technical transfer of the manufacturing processes, the further development of Concepta's lateral flow devices, and for the continuing contract manufacturing and supply of myLotus testing strips. Whilst the Doncaster site would continue to supply myLotus testing strips to Concepta, the additional capacity at the facility would support Abingdon as it spearheaded the UK Rapid Testing Consortium (UK-RTC) in its programme to deliver a new Covid-19 antibody rapid test.

The change in manufacturing strategy followed the announcement made on 29 January 2020 that a move to outsourced manufacturing options were being considered to further improve the efficiency of the company's cost-base, and allow the team to focus entirely on furthering the company's portfolio and commercial activities.

'Having already achieved a 30% cost reduction across the company, this move to outsource manufacturing is expected to generate annualised overhead costs savings of at least £0.23m,' it added.



At 9:19am: [LON:CPT] Concepta Plc share price was +0.1p at 1.3p



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