REG - BATM Advanced Comm - BATM selected for TB diagnostics programme

Batm Advanced CommunicationsAnnouncement

02/05/2024 07:00

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RNS Number : 9132M  BATM Advanced Communications Ld  02 May 2024

LEI: 213800FLQUB9J289RU66

2 May 2024

 

BATM Advanced Communications Limited

("BATM" or "the Group")

 

BATM selected for a prestigious EU-funded TB diagnostics programme

Collaboration with the National Research Council of Italy (CNR) towards
development of an advanced solution for the rapid diagnosis of TB

 

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 Group has been selected for a prestigious programme, that is
receiving funding from the European Union, for the development of an advanced
tuberculosis ("TB") diagnostics solution. The Group has also been awarded a
grant of €0.5m towards the initial 18 months of the programme with the
potential for additional funding to be awarded thereafter for the next stage.

 

The Group was selected by the National Research Council of Italy (Consiglio
Nazionale delle Ricerche) ("CNR") under a competitive process involving many
companies and after a lengthy and detailed verification phase to participate
in the programme alongside one of CNR's research institutes, the Institute for
System Analysis and Computer Science (Istituto di Analisi dei Sistemi ed
Informatica) ("IASI"). The Group's participation reflects its strategy to
advance the BATM diagnostics division through developing advanced molecular
diagnostics solutions for substantial infectious disease markets, with the
global diagnostics market for TB being worth over $2bn. It is also
demonstrative of the steps that the Group is taking to drive long-term
sustainable growth through investing in constant innovation to maintain the
diagnostics division's technological edge.

 

The programme is for the development of a diagnostics system, based on the
Rolling Circle Amplification ("RCA") method, for the rapid identification of
TB and multi-drug resistant TB. This builds on the existing work of the BATM
diagnostics division for the development of a rapid, RCA-based
sample-to-answer diagnostic solution for TB and multi-drug resistant TB. The
programme is receiving funding from the European Regional Development Fund via
the Lazio Regional Operational Program of the Lazio regional government.

 

Moti Nagar, CEO of BATM, said: "Our selection by such an esteemed institute as
CNR for this important initiative is testament to the recognition of our
expertise in developing advanced, market-leading diagnostic solutions. TB
remains one of the world's leading killer infectious diseases and a persistent
global health security threat. We are honoured to be contributing to the
development of a solution that through faster and more accurate diagnosis will
lead to significantly more effective prevention and treatment and ultimately
save lives. This reflects our dedication to continued innovation to produce
world-class molecular diagnostics solutions in line with our strategy. We look
forward to working closely with our partners on this programme to learn from
them and leverage our collective strengths to make significant advancements in
this important field of medical technology."

 

Enquiries

 BATM Advanced Communications
 Moti Nagar, Chief Executive Officer                            +972 9866 2525
 Ran Noy, Chief Financial Officer

 Shore Capital
 Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)  +44 20 7408 4050

 Gracechurch Group
 Harry Chathli, Claire Norbury                                  +44 20 4582 3500

 

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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