TIDMNIPT
RNS Number : 5072T
Premaitha Health PLC
04 July 2018
Premaitha Health plc
("Premaitha" or the "Group")
Board Changes
Manchester, UK - 4 July 2018: Premaitha Health plc (AIM: NIPT),
a leading international molecular diagnostics group, is pleased to
announce the appointment of Mr Lyn Rees as Chief Executive Officer
and Mr Keng Hsu as Chief Operating Officer (Asia). Dr Stephen
Little, currently Chief Executive Officer, will move to the role of
Executive Vice Chairman of the Group.
Alan Chang, Non-executive Director, will step down from the
board with immediate effect to focus on his other business
interests.
Lyn has significant healthcare sector leadership experience,
having spent 18 years at the BBI Group, most recently as Group
Chief Executive Officer, a position he held for nine years. During
his tenure as Chief Executive Officer, Lyn oversaw the substantial
growth of BBI through the execution and integration of a number of
acquisitions and by driving an organic growth plan based around
product diversification and commercial globalisation.
Lyn's appointment will enable Dr Stephen Little to focus on the
Group's continued technological development in his new role,
leveraging the Company's existing scientific capabilities and
expanding customer base to broaden the Group's product and service
portfolio.
Mr Keng Hsu has been appointed to the Group's board as Chief
Operating Officer, Asia. Keng was formerly Chief Financial Officer
of Yourgene Bioscience prior to its acquisition by Premaitha in
March 2017 and, since then, he has played a key role in Premaitha's
senior management team and the Group's Asian expansion.
Adam Reynolds, Chairman of Premaitha, commented: "We are
delighted to welcome Lyn to Premaitha, during what is a very
exciting phase in our development. Lyn's strong track record of
driving growth in international markets and securing blue chip
partners will be invaluable as we continue to commercialise our
technologies. I would also like to express my sincere thanks to
Steve for his outstanding contribution in building Premaitha to
where we are today, with market leading non-invasive prenatal
testing solutions in a growing global market. I would also like to
thank Alan for his contribution as a Non-executive Director since
the acquisition of Yourgene Bioscience and we wish him well in his
future endeavours.
"I look forward to working with Steve, Lyn and Keng as we
continue to build Premaitha by leveraging our technological
capabilities in molecular diagnostics, optimising our routes to
market and maximising the Group's international footprint."
The information required to be disclosed in relation to Mr Rees
and Mr Hsu in accordance with the AIM Rules for Companies ("AIM
Rules") is as outlined below:
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies, the following information is disclosed in respect of Lyn
Fafydd Rees (aged 45):
Current Directorships: Previous Directorships / Partnerships
in the last 5 years:
BBI Diagnostics Cayman1 Limited F&H Baxter (Holdings) Limited
BBI Diagnostics Cayman2 Limited Adam Biotechnology Limited
BBI Diagnostics Cayman3 Limited Biozyme Holdings
Cambridge Bionutrition Limited
Novarum DX Limited
Alchemy Laboratories Limited
BBI Detection Limited
BBI Healthcare Limited
BBI Enzymes (USA) Limited
BBI Enzymes (UK) Limited
British Biocell International
Limited
BBI Diagnostics Group Limited
BBI Enzymes Limited
Platform Diagnostics Limited
Quotient Diagnostics Limited
Scipac Limited
Pursuant to Rule 17 and Schedule 2(g) of the AIM Rules for
Companies, the following information is disclosed in respect of
Keng Hou Hsu (aged 40):
Current Directorships: Previous Directorships / Partnerships
in the last 5 years:
Yourgene Bioscience Taiwan Yourgene Bioscience Indonesia
Yourgene Bioscience Singapore
Cambridge Genomics Corporation
(Taiwan)
Changsform Innovations PTE Ltd
(Singapore)
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)161
Lyn Rees, Chief Executive Officer 667 1053
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
investors@premaitha.com
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213
Liam Murray / James Caithie 0880
finnCap (Broker) Tel: +44 (0)20 7220
Adrian Hargrave / Scott Mathieson (Corporate 0500
Finance)
Abigail Wayne (Corporate Broking)
Vigo Communications Tel: +44 (0)20 7390
Ben Simons / Fiona Henson / Antonia Pollock 0238
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.
From May 2018, the Group will trade as Yourgene Health outside
of Europe (but remaining as Yourgene Bioscience in Taiwan)
reflecting the increased scope of the business in other areas of
clinical genetics further to reproductive health; but will maintain
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.
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END
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