Yourgene Health PLC Second Strategic Partner for Coastal Genomics (4664C)
June 21 2021 - 1:00AM
UK Regulatory
TIDMYGEN
RNS Number : 4664C
Yourgene Health PLC
21 June 2021
Yourgene Health plc
("Yourgene" or the "Group" or the "Company")
Second Strategic Partner for Coastal Genomics
Manchester, UK - 21 June 2021: Yourgene (AIM: YGEN), the
international molecular diagnostics group, announces that Yourgene
Health Inc., the Company's wholly-owned US subsidiary, has signed a
Master Supply Agreement ("MSA") (the "Agreement") with a leading US
laboratory services provider ("the Partner"). The Agreement
provides the Partner with non-exclusive use of the Group's
Ranger(TM) Technology, which was acquired with Coastal Genomics Inc
("Coastal") in August 2020 and is expected to generate at least $1m
over the life of the contract, with the potential for additional
contracts to be awarded under the MSA.
The Agreement is for an initial five-year period and grants the
Partner non-exclusive access to the Group's Ranger(R) Technology
for clinical applications using automated DNA size selection, with
the initial focus primarily on non-COVID infectious disease
testing. The Partner will utilise the NIMBUS Select assay ready
workstation for high-throughput nucleic acid size selection. The N
IMBUS Select is a proprietary instrument combining Yourgene's
Ranger(R) Technology in partnership with the Microlab NIMBUS
platform from Hamilton Company, a leading global instrument
manufacturer.
The Coastal acquisition has enabled the Company to extend its
offering for DNA sample preparation technology, allowing its
customers and partners to access a wider range of diagnostic and
genomics solutions in the US, Canadian and other international
markets. Under the terms of the Coastal acquisition, this Agreement
meets the criteria for a Qualifying Commercial Agreement with a
Strategic Partner, triggering the second earn-out milestone.
Consequently, approximately 5 million shares in Yourgene Health plc
will be issued directly or in exchangeable form through its
Canadian subsidiary to the selling shareholders of Coastal within
the next 28 days. These shares will be subject to orderly market
provisions for a period of 12 months from issue. Further details
will be announced shortly once the legal details have been
finalised.
Lyn Rees, CEO of Yourgene commented: "We are thrilled to have
signed an MSA with another prestigious diagnostic leader as we grow
the Company's blue-chip partner base in the US, our largest
addressable market. The MSA is also supporting the Company's recent
expansion into infectious disease testing. This latest agreement
builds on the separate reproductive health Supply Agreement
announced on 1 March 2021 in the US, and further accelerates our
commercial footprint in the largest diagnostics market in the
world.
"We respect the wishes of our Partner to remain anonymous at
this time, highlighting the competitive offering that underpins our
Ranger(R) Technology."
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 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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