Premaitha Health PLC India Business Update (0855H)
June 05 2017 - 2:00AM
UK Regulatory
TIDMNIPT
RNS Number : 0855H
Premaitha Health PLC
05 June 2017
Premaitha Health plc
("Premaitha" or the "Company" or the "Group")
India Business Update
Manchester, UK - 5 June 2017: Premaitha Health plc (AIM: NIPT),
a leading international molecular diagnostics group focused on
non-invasive prenatal testing, is pleased to provide an update on
commercial progress in India.
Yourgene Bioscience ("Yourgene"), acquired by Premaitha in March
2017, is now firmly established as one of India's leading providers
in the emerging non-invasive prenatal testing ("NIPT") market, with
representation in 9 of the 15 most populous states and several of
the largest nationwide pathology laboratory groups running
Yourgene's NIPT workflow in-house. There are five laboratories with
installed NIPT solutions, and an additional two laboratories are
expected to become active later this year. These laboratories have
an extensive network of hospitals feeding samples into them across
all the regions of the country. In addition, there are currently
thirteen Indian laboratory customers sending samples to Yourgene's
laboratory in Taiwan for processing and analysis and the
expectation is that some of these laboratories in time will
establish their NIPT solution in house.
NIPT in India is still in an early phase of development and
Yourgene's test volumes are growing at a rate of 100% per annum
with coverage across all key metropolitan areas including Mumbai,
New Delhi, Bangalore, Hyderabad and Chennai. India has the highest
birth rate in the world with over 26 million births per annum, and
access to prenatal screening is spreading to the expanding middle
class populations living in the cities and regions where screening
is available. Yourgene's menu-based test offering allows for
testing to be tailored to local ethical and clinical
requirements.
Dr Stephen Little, CEO, commented: "With its extremely high
birth rate and growing middle class population we expect India, in
time, to become a very large market for NIPT and we are well
positioned to be one of the principal suppliers to the market in
the years to come.
"Premaitha and Yourgene are working closely together to deliver
a complementary test offering to suit all sizes of hospital and
laboratory customer. We already have a leading presence with
growing test volumes from an expanding customer base. I believe our
combined product strategy positions us strongly to win significant
market share in this country and others with similar health service
characteristics."
For more information, please contact:
Premaitha Health plc Tel: +44 (0)
161 667 6865
Dr Stephen Little, Chief Executive
Office
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
Adrian Hargrave / Scott Mathieson
(Corporate Finance)
Tony Quirke (Corporate Broking)
Vigo Communications Tel: +44 (0)
20 7830 9700
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 primary focus is on non-invasive prenatal tests (NIPT) for
pregnant women - an emerging, multi-billion dollar global
market.
Premaitha's 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 test 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.
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 company news service from the London Stock Exchange
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