Premaitha Health PLC Middle East laboratory network expansion (5292X)
November 27 2017 - 2:00AM
UK Regulatory
TIDMNIPT
RNS Number : 5292X
Premaitha Health PLC
27 November 2017
Premaitha Health PLC
("Premaitha" or the "Company")
Middle East laboratory network expansion
Manchester, UK - 27 November 2017: Premaitha Health PLC (AIM:
NIPT), a leading international molecular diagnostics group focused
on non-invasive prenatal testing (NIPT), announces further
expansion of its Middle Eastern customer base, with four new
laboratories having been signed up in the region.
Premaitha's Middle Eastern distributors have secured four new
laboratories seeking to offer the IONA(R) test to their respective
population centres. Two of the laboratories will be installed
before the end of 2017 and the other two will become operational in
Q1 2018. Premaitha anticipates these four laboratories will perform
an aggregate volume of over 12,000 NIPT tests per year once they
are fully active, generating in excess of GBP0.6 million in annual
revenues for the Company; and substantial revenues for its
equipment partners.
Premaitha's IONA(R) test estimates the risk of a fetus being
affected with Down's syndrome or other genetic conditions. The test
is performed on a maternal blood sample, containing traces of fetal
DNA, which is then analysed using next generation DNA sequencing
technology. The test is highly accurate and significantly reduces
the number of women who are unnecessarily subjected to risky,
invasive follow up procedures to diagnose Down's syndrome and other
genetic conditions.
Dr Stephen Little, CEO of Premaitha, commented: "We have put
considerable effort into selecting high quality distributors who
are knowledgeable in our field, and working with them to build
awareness of NIPT and to develop effective propositions tailored to
their markets' particular needs. I am delighted to see this
investment bearing fruit as we continue to expand our presence
within the Middle East. Furthermore, Premaitha's growing
international customer base will, in time, provide a valuable
commercial platform across which to sell other diagnostic panels
that we are currently developing."
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
Dr Stephen Little, Chief Executive 667 1053
Officer
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
investors@premaitha.com
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20
Liam Murray / James Caithie 7213 0880
finnCap (Broker) Tel: +44 (0)20
Adrian Hargrave / Scott Mathieson 7220 0500
(Corporate Finance)
Andrew Burdis/Abigail Wayne (Corporate
Broking)
Vigo Communications Tel: +44 (0)20
Ben Simons / Fiona Henson / Antonia 7830 9700
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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