Premaitha Health PLC DNA sequencing technology development agreement (8433Q)
June 11 2018 - 1:00AM
UK Regulatory
TIDMNIPT
RNS Number : 8433Q
Premaitha Health PLC
11 June 2018
Premaitha Health plc
("Premaitha" or the "Company")
Partnership agreement for DNA sequencing technology
development
Manchester, UK - 11 June 2018: Premaitha Health plc (AIM: NIPT),
a leading international molecular diagnostics group, announces that
it has signed an agreement with Coastal Genomics, a biotechnology
engineering firm based in Vancouver, Canada, to develop advanced
technologies for clinical DNA sequencing tests.
Coastal Genomics develops and markets automated solutions to
address sample preparation needs across the medical diagnostics
sector. Under the agreement, Coastal Genomics will work with
Premaitha to develop customised advanced technologies to enhance
aspects of Premaitha Health's in vitro diagnostic product
portfolio. The technologies being developed will be best in class
and will work across different applications, including but not
limited to reproductive health.
Dr Stephen Little, CEO of Premaitha, commented: "In partnering
with Coastal Genomics, we see a real opportunity to introduce
improved processes which will optimise our existing workflow,
reduce cost and improve overall efficiency of the screening process
for our customers. Coastal Genomics have significant expertise in
this field and we look forward to working together to develop this
market leading technology."
Matthew Nesbitt, President of Coastal Genomics, said: "We are
thrilled to be working closely with Premaitha. As a leading
molecular diagnostics company, Premaitha has invaluable insight
into the demands and requirements of our technology and we look
forward to leveraging this expertise to deliver a customised
solution for Premaitha that can be widely deployed for DNA
sequencing."
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)161
Dr Stephen Little, 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)
Andrew Burdis / Abigail Wayne (Corporate Broking)
Vigo Communications Tel: +44 (0)20 7890
Ben Simons / Fiona Henson / Antonia Pollock 0237
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.
About Coastal Genomics
The "Why" behind Coastal Genomics is that good science should
not hinge on the fickle nature of manual bench science. This is a
shared perspective as evidenced by the continued move to automate
life science protocols. Techniques that compromise on result
quality in exchange for automatability can be a viable option for
some workflows. Inevitably though, the demands of new applications
that are high value and high throughput in nature come to require
high quality input that can only be delivered by golden standard
bench techniques. Please visit our website at
www.coastalgenomics.com to learn more about how we help secure
quality sample preparation.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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