Yourgene Health PLC Multi-year licence and supply agreement (2362B)
June 09 2021 - 1:00AM
UK Regulatory
TIDMYGEN
RNS Number : 2362B
Yourgene Health PLC
09 June 2021
Yourgene Health plc
("Yourgene" or the "Group" or the "Company")
Multi-year licence and supply agreement with leading US
precision medicine company
Manchester, UK - 9 June 2021: Yourgene (AIM: YGEN), the
international molecular diagnostics group, announces it has entered
into a licence and supply agreement (the "Agreement") with a
leading US precision medicine company (the "Partner") for an
initial term of three years commencing 1 April 2022. The Agreement
grants the Partner a non-exclusive licence to the Company's
Flex(TM) Analysis Software and commits Yourgene to supplying sample
preparation reagents and instrumentation to support the planned
launch of a new clinical reproductive health screening service
across all US states by the Partner. The Agreement allows for
automatic annual renewals after the initial term, subject to
typical notice provisions.
The Partner is a leading precision medicine organisation with an
established franchise in genetic diagnostics, who wishes to build a
significant market presence in the rapidly growing US reproductive
health diagnostics sector. After a competitive process the Partner
has chosen to partner with Yourgene, given its unique sample
preparation technology, bioinformatics expertise and flexible
approach to customising its workflow.
The three-year initial contract term enables the Partner to
launch a reproductive health screening test in the Company's
financial year 2022-23. The screening test will connect the
Partner's sample processing workflow with the Company's proprietary
bioinformatics Flex(TM) Analysis Software as well as its Ranger(R)
Technology - the sample enrichment technology acquired through
Coastal Genomics in August 2020. The planned launch of the testing
service will follow an in-depth customised workflow development and
a validation and verification phase prior to launch. The latter
process is designed to support attainment of laboratory
accreditations for the Partner's laboratory, enabling them to offer
the reproductive health screening test.
Yourgene Flex(TM) is the Company's modular next-generation
sequencing (NGS) analysis framework which harnesses best-in-class
bioinformatics pipelines to offer high quality, robust yet flexible
NGS analysis solutions. Flex(TM) is enabling Yourgene to support
its diagnostic product development partnerships and research
collaborations with key industry players, as well as being deployed
to support Yourgene's internal product development pipeline across
reproductive health and oncology.
Lyn Rees, Chief Executive Officer of Yourgene Health, commented:
"We are extremely pleased to sign this agreement with such a
prestigious US company and this is a strong endorsement of our
software and technology expertise. This collaboration aligns with
our strategic goal of providing partners with the best-in-class
instrumentation and medical software analysis capabilities. We look
forward to enabling our partner to launch a competitive clinical
offering into the US market in 2022 and we anticipate that this
partnership will generate accretive multi-million dollar revenues
for Yourgene in the years to follow. Our move into the US market
space is gaining momentum and our newly acquired Ranger(R)
Technology is proving to be a real door opener."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Yourgene Health plc Tel: +44 (0)161 669 8122
Lyn Rees, Chief Executive Officer investors@yourgene-health.com
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie / Ludovico
Lazzaretti
N+1 Singer (Joint Corporate Broker) Tel: +44 (0)20 7496 3000
Aubrey Powell / Tom Salvesen / George
Tzimas
Stifel Nicolaus Europe Limited (Joint Tel: +44 (0)20 7710 7600
Corporate Broker)
Nicholas Moore / Matthew Blawat / Ben
Maddison
Walbrook PR Ltd (Media and Investor Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com
Relations)
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / Mob: 07584 391 303
About Yourgene Health
Yourgene Health is an international molecular diagnostics group
which develops and commercialises genetic products and services.
The group works in partnership with global leaders in DNA
technology to advance diagnostic science.
Yourgene primarily develops, manufactures, and commercialises
simple and accurate molecular diagnostic solutions, for
reproductive health, precision medicine and now infectious
diseases. The Group's flagship products include non-invasive
prenatal tests (NIPT) for Down's Syndrome and other genetic
disorders, Cystic Fibrosis screening tests, invasive rapid
aneuploidy tests, and a recent extension into the oncology space
with DPYD genotyping.
The launch of Yourgene Genomic Services has enabled Yourgene to
offer a global laboratory service network equipped to be a full
life-cycle partner for clinical, research and pharmaceutical
organisations to support partners at the preclinical, clinical, and
post-market stages to develop, manufacture, obtain regulatory
approval and commercialise new products and services. In addition,
Yourgene Genomic Services offers an NIPT and high throughput COVID
testing service.
In August 2020, Yourgene acquired Coastal Genomics, Inc., a
sample preparation technology company based in Vancouver, Canada,
enabling the Company to extend its offering and IP portfolio in the
DNA sample preparation sector. The acquisition increased Yourgene's
geographical penetration into the US and Canada, supplementing
existing coverage in the UK, Europe, MEA and Asia.
Yourgene Health is headquartered in Manchester, UK with offices
in Taipei, Singapore, the US and Canada, and is listed on the
London Stock Exchange's AIM market under the ticker "YGEN". For
more information visit www.yourgene-health.com and follow us on
twitter @Yourgene_Health.
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