By using Avacta’s Affimer technology, the companies will develop novel diagnostic assays, as well as new lateral flow devices (LFDs) as POC diagnostics for human healthcare.

Affimer-based LFDs are expected to address multiple existing limitations of traditional antibody-based systems.

The reagents can be specifically designed to a range of targets under reproducible and cost-effective process.

Under the deal, the firm will share the revenues obtained from the commercialisation of the new diagnostics products.

Avacta CEO Alastair Smith said: "I am very pleased that we have established this collaborative partnership with Mologic, who are well recognised as an innovative developer of lateral flow devices.

Mologic CEO Mark Davis said: "By partnering with Avacta and becoming one of the first companies to develop LFD tests using the Affimer platform, we have the potential to address a wider range of challenging targets than is possible with antibodies alone, with faster development times and improved performance, to the benefit of customers and patients."

Avacta is currently commercialising non-therapeutic Affimer reagents to provide research and diagnostics customers with tailored solutions.

Mologic is engaged in developing novel diagnostic products for human and non-human applications.