SourceBio International PLC COVID-19 testing agreement (1570L)

TIDMSBI

RNS Number : 1570L

SourceBio International PLC

11 January 2021

SourceBio International plc

("SourceBio", the "Company" or the "Group")

COVID-19 testing agreement with UK high street retail and pharmacy group

SourceBio International plc (AIM: SBI), an international provider of integrated state of the art laboratory services and products, announces that it has entered into a supply agreement with a leading UK high street retail and pharmacy group to provide laboratory-based testing services to support the roll-out of COVID-19 testing across UK stores.

Under the initial 12-month agreement SourceBio will offer COVID-19 PCR Testing services from its ISO 15189 accredited laboratory facility in Nottingham. The service is being trialled initially across a limited number of clinically approved high street sites with the goal to offer larger-scale COVID-19 diagnostic testing across many more UK stores should it prove successful.

SourceBio currently provides COVID-19 testing services to the NHS, the Department of Health & Social Care and private healthcare customers. The Company admitted to trading on AIM in October 2020 and raised funds to expand testing capacity to meet the expected increase in demand for COVID-19 testing services from additional commercial customers.

For more information about SourceBio's COVID-19 testing services visit: https://www.sourcebioscience.com/Covid-19-Testing-Services

Jay LeCoque, Executive Chairman of SourceBio International plc, said: "We are delighted to be working in partnership with a major UK high street name to support the roll-out of testing service for their customers across the UK using our ISO 15189 accredited laboratories.

"Accurate diagnostic testing is needed more than ever given the new surge in COVID-19 infections in the UK and increasing evidence that many more people may have COVID-19 without showing symptoms than has previously been thought. We believe the provision of highly accurate, gold standard, fit to fly, and test to release test results made available on high streets, will be highly sought after and provide much needed peace of mind to those who still need to go about their daily lives and eventually travel abroad."

Contacts:

 
 SourceBio International plc                           www.sourcebiointernational.com 
 Jay LeCoque, Executive Chairman                                      Via Walbrook PR 
 Tony Ratcliffe, Chief Financial Officer 
 
 Liberum (Nominated Adviser and Broker)                            Tel: 020 3100 2000 
 Bidhi Bhoma 
 Joshua Hughes 
 Euan Brown 
 
 Walbrook PR Limited                   Tel: 020 7933 8780 or sourcebio@walbrookpr.com 
 Paul McManus / Sam Allen                                  Mob: 07980 541 893 / 07748 
                                                                              651 727

About SourceBio International plc www.sourcebiointernational.com

SourceBio is a leading international provider of integrated state-of-the-art laboratory services and products clients in the healthcare, clinical, life science research and biopharma industries, with a focus on improving patient diagnosis, management and care. Group revenues are derived from four core businesses areas:

-- Healthcare Diagnostics - histopathology and clinical diagnostic services for the NHS and private healthcare across the UK and Ireland.

-- Genomics - DNA sequencing services for pharmaceutical and biotechnology companies, academia, contract research organisations (CROs) and other research groups in the UK, Europe and North America.

-- Stability Storage - shelf-life testing services and equipment for pharmaceutical and biotechnology companies, contract manufacturers and analytical testing companies from around the world but primarily in the UK, Ireland and the USA; and

-- Infectious Disease Testing - since May 2020, the Group has provided COVID-19 Antigen RT-PCR testing services. These services passed all of the auditing requirements of the NHS and the Department of Health and Social Care (DHSC) in April 2020. It is intended that this offering will potentially provide a broad range of infectious disease testing across the NHS, private healthcare and commercial sectors in the future.

More details on Group operations can be found here: www.sourcebioscience.com

SourceBio International plc (SBI.L) is listed on the AIM market of the London Stock Exchange.

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January 11, 2021 02:00 ET (07:00 GMT)

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