Premaitha Health PLC $1 million collaboration agreement (8914C)
October 04 2018 - 2:00AM
UK Regulatory
TIDMNIPT
RNS Number : 8914C
Premaitha Health PLC
04 October 2018
Premaitha Health PLC
("Premaitha," the "Company" or the "Group")
$1 million collaboration agreement
Partnership to provide genetic testing based on next generation
sequencing for oncology
Manchester, UK - 4 October 2018: Premaitha (AIM: NIPT), a
leading international molecular diagnostics group, announces a new
partnership agreement between the Group's Yourgene Bioscience
division ("Yourgene") and a leading clinical research organisation
in Taiwan (the "Partner"), to deliver next generation sequencing
("NGS") testing in oncology.
Under the terms of the partnership, Yourgene will provide
genetic testing services using NGS technology on patient samples
gathered by the Partner for the purpose of research into early
stage cancer screening.
This is the first phase of collaboration between Yourgene and
the Partner and further project phases are anticipated in the
future. The initial phase is anticipated to generate approximately
US$1 million of revenues over the next 6-12 months.
Lyn Rees, Chief Executive Officer of Premaitha, commented: "This
partnership is directly in-line with our strategy to diversify
Premaitha's products and services by leveraging the Group's
existing expertise in collaboration with global partners, as we
further our commercialisation. This collaboration helps provide
greater revenue visibility as we look to execute on our strategy of
becoming a truly global business. I am delighted to partner with an
organisation of this breadth and scale, and look forward to sharing
future progress as we continue to extend our offering."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)16 1667 1053
Lyn Rees, Chief Executive Officer
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
investors@premaitha.com
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie
finnCap (Broker) Tel: +44 (0)20 7220 0500
Geoff Nash / Matthew Radley (Corporate
Finance)
Tim Redfern (Corporate Broking)
Vigo Communications Tel: +44 (0)20 7390 0234
Ben Simons / Fiona Henson / Antonia Pollock
premaitha@vigocomms.com
About Premaitha
Premaitha is an international molecular diagnostics group which
uses the latest advances in DNA analysis technology to develop
safer, faster and regulatory approved genetic screening tests.
The Group's current primary focus is on non-invasive prenatal
tests (NIPT) for pregnant women - an emerging, multi-billion dollar
global market - although the Group intends to expand its product
range into other areas of clinical genetics.
Premaitha's first product, the IONA(R) test was launched in 2015
as the first CE-IVD NIPT test in Europe. It enables laboratories
and healthcare practitioners to offer a complete CE-marked NIPT
system in-house. The IONA(R) test is performed on a maternal blood
sample - which contains traces of fetal DNA - and estimates the
risk of a fetus being affected with Down's syndrome or other
genetic conditions.
Unlike existing prenatal screening methods, due to its high
level of accuracy, the IONA(R) test can significantly reduce the
number of women subjected to unnecessary invasive follow up
diagnostic procedures, such as amniocentesis, which are costly,
resource intensive and carry a risk of miscarriage.
In March 2017, Premaitha acquired Yourgene Bioscience, a
specialist next generation sequencing and bioinformatics company
based in Taiwan, with its own NIPT screening solution that operates
on the same Thermo Fisher next-generation sequencing platform as
Premaitha's IONA(R) test. Yourgene brings significant benefits to
the Group through expanded market access in Asia - the world's
fastest growing NIPT market - as well as opportunities for
cross-selling and the ability to jointly develop expanded test
content both within NIPT and beyond.
Since May 2018, the Group has traded as Yourgene Health outside
of Europe (but remains as Yourgene Bioscience in Taiwan),
reflecting the increased scope of the business in other areas of
clinical genetics further to reproductive health; but maintains the
Premaitha Health brand within Europe.
Premaitha is headquartered in Manchester, England, with Yourgene
offices in Taipei and Singapore. Its shares trade on the AIM market
of the London Stock Exchange (AIM: NIPT). For further information,
please visit www.premaitha.com. Follow us on twitter
@PremaithaHealth.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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