AIM float for virus detection company

10:22am Tuesday 22nd January 2008

A HIGH-TECH company which is developing "sniffer machines"

for detecting avian flu, MRSA and explosives, is to float on London's junior stock market.

Analytical Nanotechnologies (ANTnano), based in Sedgefield, County Durham, made the announcement yesterday as it appointed new chief executive, Dr Allan Syms, to help bring in business opportunities.

The company, a spin-out business from the University of Sunderland, has also appointed WH Ireland as brokers to advise on a flotation on the Alternative Investment Market (AIM) in March or April.

It is floated on the Plus Markets, a London exchange that caters for small companies, but is keen to increase its profile.

ANTnano, which employs 20 people at sites in Sedgefield, Sunderland and Singapore last year signed a £750,000 deal with Unilever, to supply enzyme-sniffing machines to protect staff at its manufacturing plants.

If successful, the machines will be installed in Unilever's plants globally.

The sniffing technology is now being applied to other uses, including MRSA. It is hoped the AIM listing will help bring these to the marketplace.

ANTnano's turnover to the end of April last year was £184,000 before the Unilever deal, with £38,000 profit, but it is expected to be much higher this year.

The company has the option of taking further space at its base at Netpark, in Sedgefield, where it has offices and laboratories.

Dr Syms, who moves from being chief executive of Eminate, a centre of nanotechnology excellence, to the company, has previously overseen a £27m placement of AIM-listed Aromascan plc.

Joe Arend, former chief executive and now executive chairman, said: "We are delighted that Allan has chosen to become CEO, as I take on the role of chairman.

"Apart from bringing an extensive background in developing high technology businesses, particularly in sensors, diagnostics and nanotechnology, he has a proven track record at PLC board level, which will be a major asset as we complete this part of our corporate strategy.

"And his position as a nonexecutive director over the past two-and-a-half years, means he already has an in-depth knowledge of the company."

Dr Syms added: "We have already established a consortium of major blue-chip companies that wish to adopt our new, highly- advanced technology which is set to become an industry standard.

"I am excited with the applications that exist for our technology, notably the use of our products to detect MRSA in hospitals, avian flu on farms, or hidden explosives in airports and train stations.

"I look forward to helping ANTnano reach its full growth potential, both organically and via strategic acquisitions."

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