Premaitha Health PLC AGM Statement (3931U)
October 24 2017 - 1:00AM
UK Regulatory
TIDMNIPT
RNS Number : 3931U
Premaitha Health PLC
24 October 2017
Premaitha Health PLC
("Premaitha" or the "Company" or the "Group")
AGM Statement
Manchester, UK - 24 October 2017: Premaitha Health PLC (AIM:
NIPT), a leading international molecular diagnostics group focused
on non-invasive prenatal testing ("NIPT"), will be holding its
Annual General Meeting at 2:00 p.m. today.
At the meeting, Adam Reynolds, Non-executive Chairman, will make
the following statement:
"I am pleased to chair Premaitha's 2017 annual general meeting.
As I stated in our recent results update, I am delighted with the
commercial progress made in the financial year ended 31 March 2017,
as well as in the first half of the current financial year.
Following the acquisition of Yourgene Bioscience, which completed
in March 2017, the enlarged Group is growing revenues, increasing
test volumes and developing expanded capabilities across a much
broader geographic area. Our recent Middle East update further
demonstrated our ability to secure business in territories where
technical excellence and customer focus are paramount to gaining
competitive advantage, and we have a strong pipeline of similar
opportunities.
"The UK litigation continues to be a distraction, with an
initial ruling anticipated before the end of the year. In the
meantime, we will continue to pursue our strategy of geographic and
product diversification, coupled with a sharp focus on achieving
profitability within the current financial year. We believe this
strategy will ensure that, whatever the outcome of the UK disputes,
Premaitha is a business that will succeed in the rapidly expanding
global market for NIPT and clinical genetic testing."
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)
Tony Quirke (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
END
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