US tax credit agreement
Abingdon Health plc's US subsidiary has secured a Business Development Tax Credit Agreement with the Wisconsin Economic Development Corporation, potentially earning up to $370,000 over three years. This performance-based credit includes up to $320,000 for new full-time roles and $50,000 for qualifying capital investment at their Wisconsin facilities, reflecting the company's growth and expansion in the US market.
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York, UK and Madison, WI, USA, 27 May 2026: Abingdon Health plc (AIM: ABDX) (OTCQB: ABDXF), a leading international developer, manufacturer and regulatory services provider for rapid diagnostic tests and med-tech, announces that its US subsidiary, Abingdon Health USA, Inc., has entered into a Business Development Tax Credit Agreement with the Wisconsin Economic Development Corporation ("WEDC"). WEDC serves as the state's agency for economic development, fostering job growth and business expansion.
Under the agreement, Abingdon Health USA, Inc. has been certified as eligible to earn up to US$370,000 in performance-based Wisconsin tax credits over a three-year period commencing 1 January 2026. The credits comprise up to US$320,000 linked to the creation of new full-time roles and up to US$50,000 linked to qualifying capital investment at the Group's facilities in Wisconsin over this period. The amount of credits the Company will receive is contingent on the number of jobs created and amount of capital invested.
This award reflects the continued growth of the Group's US operations and supports the ongoing expansion of its facilities in Madison, Wisconsin, which serve as Abingdon Health's North American base for development, manufacturing and commercial activities.
John W. Miller, Secretary and CEO of WEDC, said "Abingdon's decision to locate in Wisconsin and continue to grow here reflects the strength of our state's leadership in the field of biohealth and biotechnology, our outstanding research institutions, and our highly trained workforce. WEDC is proud to partner with Abingdon as they open this next chapter."
Chris Yates, President of Abingdon Health USA Inc, said: "We are grateful for this award from the Wisconsin Economic Development Corporation, which serves as a welcome endorsement of our commitment and investment in Wisconsin and our positioning in the US market. These tax credits will support our expansion at University Research Park in Madison, including the creation of additional skilled roles as Abingdon Health USA continues to grow to meet customer demand across the United States."
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