Horizon Discovery Group plc Master Service Agreement with Top 3 Pharma Company
February 14 2017 - 1:00AM
RNS Non-Regulatory
TIDMHZD
Horizon Discovery Group plc
14 February 2017
Horizon Discovery Signs a Master Service Agreement with
a Top Three Pharmaceutical Company
Cambridge, UK, 14 February 2017: Horizon Discovery Group plc
(LSE: HZD) ("Horizon" or the "Group"), the world leader in the
application of gene editing technologies, today announces the
signing of a Master Services Agreement (MSA) with a top three
global pharmaceutical company (the "Company"), extending support
for their drug discovery and development efforts to Horizon's full
suite of services.
Adding to a pre-existing MSA for in vivo services, the terms of
this agreement now cover a range of Horizon's in vitro service
offerings, defining the pricing and terms that will govern future
transactions and facilitating simplified entry into forthcoming
agreements. Services included under the MSA are: custom cell line
engineering, target identification and validation screening
(including the use of CRISPR gene editing technology), drug
combination screening, and cell-based assay services.
Horizon is establishing itself as a key provider to an
increasing number of major pharmaceutical and biotech companies by
delivering reliable, high-quality, high-value services, and by
strengthening key relationships within each organisation. In this
way, Horizon was able to negotiate this agreement, building trust
with the Company and becoming a preferred provider over time. It is
now Horizon's single largest customer, contributing over GBP1.5
million in revenue in 2016 (cGBP0.6 million FY15) and the current
project pipeline indicates there will be an expansion of revenue
received in 2017.
Dr. Darrin Disley, Chief Executive Officer Horizon Discovery,
commented: "Today's announcement demonstrates the success of
Horizon's strategy of deepening relationships with our top
customers. By taking a broader and more integrated approach, we are
able to identify areas where we can provide significant value and
are able to offer unified solutions that involve a range of
Horizon's services. In 2016, our top 20 customers provided over
GBP9.8 million to the Group, and in 2017 we are looking to increase
our revenue from this segment by at least 20%, with this agreement
serving as a template."
ENDS
Glossary:
-- Custom cell line engineering: The on-demand development of
cell lines that reflect the genetics of disease found in real
patients by use of gene editing
-- Target identification and validation screening: The process
of identifying genes as potential targets for drug development
programmes
-- Drug combination screening: The process by which potential
drug compounds are combined with known drugs under a variety of
conditions to identify synergistic and antagonistic
interactions
-- Cell-based assay services: A range of contract research
services based on the direct interrogation of cells under specific
conditions (e.g. looking at drug response under low oxygen)
For further information from Horizon Discovery Group plc, please
contact:
Horizon Discovery Group plc
Darrin Disley, Chief Executive Officer
Richard Vellacott, Chief Financial Officer
Chris Claxton, VP Investor Relations
Tel: +44 (0) 1223 655 580
Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott / Susan Stuart / Matthew Neal / Melissa
Gardiner
Tel: +44 (0) 20 3709 5701
Email: horizon@consilium-comms.com
Zyme Communications (Trade and Regional Media)
Katie Odgaard
Tel: +44 (0)7787 502 947
Email: katie.odgaard@zymecommunications.com
About Horizon Discovery Group plc www.horizondiscovery.com
Horizon Discovery Group plc (LSE: HZD) ("Horizon"), is a
world-leading gene editing company that designs and engineers
genetically-modified cells and then applies them in research and
clinical applications that advance human health.
Horizon's core capabilities are built around its proprietary
translational genomics platform, a highly precise and flexible
suite of gene editing tools (rAAV, ZFN and CRISPR) able to alter
almost any gene sequence in human or mammalian cell-lines.
Horizon offers over 23,000 catalogue products and related
research services, almost all of which are based on the generation
and application of cell and animal models that accurately
recapitulate the disease-causing genetic anomalies found in
diseases like cancer. Horizon's commercial offering has been
adopted by c. 1,600 unique research organisations in over 50
countries as well as in the Company's own R&D pipeline to
support a greater understanding of the genetic drivers of disease
and the development of molecular, cell and gene therapies that can
be prescribed on a personalised basis.
Horizon is headquartered in Cambridge, UK, and is listed on the
London Stock Exchange's AIM market under the ticker "HZD".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 14, 2017 02:00 ET (07:00 GMT)
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