Re Agreement

RNS Number : 8074V

Epistem Holdings plc

18 December 2013

 



RNS Press Release

For release: 18^th December 2013: 7.00 AM

Epistem announces evaluation of Genedrive^® by US Department of Defence for pathogen detection

Epistem Holdings Plc (LSE: EHP), the biotechnology and personalised medicine company, announces today a cooperative agreement with the US Air Force alongside an agreement with Johns Hopkins University - Advanced Physics Laboratory, to undertake the combat (in field use) evaluation of Epistem's Genedrive^® handheld molecular device for pathogen detection. The agreement will commence immediately and provides Epistem with $0.6m (£0.4m) during the initial 6 month phase to develop and evaluate Genedrive^® for the identification of three known disease pathogens. Successful completion of the initial evaluation phase will secure ongoing investment for the development and potential roll out of the handheld pathogen detection unit for the US Department of Defence.        

Preparations for the 2014 launch of the company's first Genedrive^® disease test in Tuberculosis continue, with progress to resolve the earlier reported software and firmware issues now nearing completion. Whilst unit testing is ongoing, preparations are now being made for the commencement of final stage clinical trials in support of Indian regulatory approval. Plans to undertake clinical trials in 2014 with the Foundation for Innovative New Diagnostics (FIND) have also commenced as a forerunner to securing a World Health Organisation (WHO) recommendation in 2015.     

For further details please contact:

Epistem Plc

Matthew Walls: Chief Executive Officer                                                         ++44 (0)161 606 7258

John Rylands: Finance Director                                                                                                                                                                                                                                                                                                                                                                                                      

Peel Hunt LLP

James Steel                                                                                                           ++44 (0)207 418 8900

Oliver Jackson

Walbrook PR

Mike Wort                                                                                                             ++44 (0)207 933 8780

Anna Dunphy

Notes for editors

Epistem is a biotechnology and personalised medicine company commercialising its expertise in stem cells in the areas of epithelial (oncology, gastrointestinal and dermatological) and infectious diseases. Epistem develops innovative therapeutics, biomarkers and diagnostics (Genedrive^®) alongside contract research services for drug development companies. The Group's core expertise is focused around the regulation of adult stem cells located in epithelial tissue including the gastrointestinal tract, skin, hair follicles, breast and prostate and utilizing novel, proprietary next generation molecular biology for use in personalised medicine. www.epistem.co.uk

 

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