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 £6.8m. 

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. 

Download the full announcement.