Fascinating business but is the valuation really justified?

Bioventix is a business engaged in the creation and engineering of antibodies. It was incorporated in 2003, and began trading on PLUS Market in 2010, before moving to AIM in April 2014. It has developed technology to produce cell lines that secrete sheep monoclonal antibodies for use in diagnostic blood tests. This is a financially robust company which is very highly valued, but we remain sceptical about its future growth potential. We would be very interested in finding out more about this interesting company.