Premaitha Health PLC Premaitha signs new partner in East Asia (2928X)
November 23 2017 - 2:00AM
UK Regulatory
TIDMNIPT
RNS Number : 2928X
Premaitha Health PLC
23 November 2017
Premaitha Health plc
("Premaitha" or the "Company")
Premaitha signs new partner to offer NIPT solution in East
Asia
Manchester, UK - 23 November 2017: Premaitha Health plc (AIM:
NIPT), a leading international molecular diagnostics group focused
on non-invasive prenatal testing ("NIPT"), announces that it has
signed an agreement with a new laboratory partner (the "Partner")
to offer an NIPT screening solution in a new East Asian territory
(the "Territory") for Premaitha.
The Partner is a private reference laboratory, which will
provide the NIPT screening solution to its network of hospitals and
clinics in the region. The installation of the laboratory is set to
be completed in H1 2018. The Partner will be operating in an
already established NIPT market with attractive market dynamics and
growth prospects.
Premaitha offers advanced NIPT solutions, which estimate the
risk of a fetus having Down's syndrome and other genetic disorders.
The NIPT solution is being introduced in the Territory through
Yourgene Bioscience ("Yourgene"), which was acquired by Premaitha
in March 2017. The solution allows clinicians and laboratories to
offer customised screening, from full clinical service through to
local laboratory set-ups with remote cloud-based NIPT analysis.
The NIPT solution being implemented in the Territory utilises
the sequencing and bioinformatics expertise of Yourgene and the
clinical understanding, IVD and quality standards of Premaitha,
enabling pregnant women and their families to access fast, safe and
reliable tests and reducing the need for unnecessary invasive
tests, with their associated risks, stress and anxiety.
Dr Stephen Little, CEO of Premaitha Health, commented: "We are
delighted to announce a further new international territory for
Premaitha, which provides entry into another high growth market for
NIPT. Despite Tuesday's judgment, the impact of which is limited to
the UK, we continue to expand Premaitha's footprint through our
geographic diversification strategy into territories unaffected by
Illumina's patents."
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)
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 Tel: +44 (0)
(Nomad) 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 9701
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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