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Premaitha Health PLC (YGEN)

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Thursday 25 October, 2018

Premaitha Health PLC

AGM Statement

RNS Number : 0962F
Premaitha Health PLC
25 October 2018
 

Premaitha Health plc

("Premaitha," the "Company" or the "Group")

 

AGM Statement

 

Manchester, UK - 25 October 2018: Premaitha (AIM: NIPT), a leading international molecular diagnostics group, will hold 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 2018 Annual General Meeting. As stated in our recent trading update, the Group made strong commercial progress in the first half of the current financial year. We achieved 45% revenue growth in H1 and it is very positive that this strong momentum has continued into the second half. The recent resolution of the patent litigation was a significant milestone for the Group and will enable us to open up new territories, which historically were inaccessible. As part of our commercial expansion strategy we aim to deliver a wider portfolio of content and I am confident that we have both the technical capability and industry reach to deliver additional products across multiple platforms as we transition towards a platform agnostic model. With the fundraising now completed, a refreshed brand identity and a strengthened management team in place, I have considerable confidence in the Group's ongoing prospects."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

 

For more information, please contact:


Premaitha Health PLC

Lyn Rees, Chief Executive Officer

Barry Hextall, Chief Financial Officer

Joanne Cross, Head of Marketing

[email protected]

 

Tel: +44 (0)16 1667 1053

 

Cairn Financial Advisers LLP (NOMAD)

Liam Murray / James Caithie

 

Tel: +44 (0)20 7213 0880

finnCap (Broker)

Geoff Nash / Matthew Radley (Corporate Finance)

Tim Redfern (Corporate Broking)

 

Tel: +44 (0)20 7220 0500

Vigo Communications

Ben Simons / Fiona Henson / Antonia Pollock

[email protected]

 

Tel: +44 (0)20 7390 0234

 

 

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® 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® 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® 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® 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.

 

Since May 2018, the Group has traded as Yourgene Health outside of Europe (but remains as Yourgene Bioscience in Taiwan), reflecting the increased scope of the business in other areas of clinical genetics further to reproductive health; but maintains 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.

 


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 [email protected] or visit www.rns.com.
 
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