Oxford Immunotec value drops after public offering

Oxford Immunotec said it will use the proceeds from the offering for working capital and general corporate purposes. The company’s immunodiagnostic T-SPOT platform is measures immune cell responses at a single cell level and thus detects immune responses of T cells and cells of the innate immune system more sensitive than ELISA assays. According to the British company, its assays can detect an individual reacting cell in a population of 250,000 white blood cells.

Oxford Immunotec’s first product, the T-SPOT^®.TB test, has been approved for sale in over 50 countries, including the US, the EU, Japan and China. The company’s second product line is a range of assays for tick-borne diseases, such as Lyme disease, obtained through the acquisitions of Imugen and Immunetics. The company currently is seeking FDA approval for its third product line, a screening test for Babesia in donated blood. Additionally Oxford Immunotec has several assays, such T-SPOT.CMV test and the T-SPOT.PRT under development.