TIDMEKF

RNS Number : 5336B

EKF Diagnostics Holdings PLC

11 January 2018

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).

EKF Diagnostics Holdings plc

("EKF", the "Company")

Trading update

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, provides shareholders with the following update on current trading.

The Company is pleased to announce that revenues for the year ended 31 December 2017 are in line with expectations whilst adjusted EBITDA is expected to comfortably exceed expectations. Net cash at the year end is GBP6.8m.

The Company also announces that it intends to spin-out its sTNFR biomarker technology into a separate entity to enable it to exploit opportunities to realise value from this technology, which having been fully impaired and has a current carrying value of nil. sTNFR1/2 (Soluble Tumour Necrosis Factor Receptors 1 and 2) are novel biomarkers used to identify type 1 and type 2 diabetes patients at highest risk of progressive Diabetic Kidney Disease (DKD) potentially leading to End Stage Renal Disease (ESRD).

The Directors intend to establish a joint venture to develop sTNFR as a routine test for predicting the progression of diabetic patients to ESRD and will make further announcements at the appropriate time.

Enquiries:

 
EKF Diagnostics Holdings plc                        www.ekfdiagnostics.com 
Christopher Mills, Non-Executive                        Tel: 029 2071 0570 
 Chairman 
Julian Baines, CEO 
 
Richard Evans, FD & COO 
 
 
N+1 Singer (Nomad & Broker)                             Tel: 020 7496 3000 
Alex Price / Shaun Dobson 
 / Ali Laughton-Scott 
 
 
Walbrook PR Limited               Tel: 020 7933 8780 or ekf@walbrookpr.com 
Paul McManus / Lianne Cawthorne         Mob: 07980 541 893 / 07584 391 303

This information is provided by RNS

The company news service from the London Stock Exchange

END

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January 11, 2018 02:00 ET (07:00 GMT)

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