Genedrive PLC genedrive signs distribution agreement for India (9910I)
27 March 2018 - 5:00PM
UK Regulatory
TIDMGDR
RNS Number : 9910I
Genedrive PLC
27 March 2018
For release: 27 March
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014. Upon the publication
of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
genedrive plc ("genedrive" or the "Company")
genedrive signs distribution agreement for India with ARKRAY
Healthcare pvt Ltd for Genedrive(R) HCV ID Kit and Genedrive(R)
platform
Agreement extends global commercial coverage
genedrive plc (AIM: GDR), the near patient molecular diagnostics
company, today announces that it has signed a distribution
agreement with ARKRAY Healthcare pvt Ltd ("ARKRAY"), a wholly owned
subsidiary of leading IVD company ARKRAY Inc. Japan, for its CE
marked Genedrive(R) HCV ID Kit and Genedrive(R) platform in
India.
Under the agreement, genedrive will retain responsibility for
product development, quality management and manufacturing, and
ARKRAY will be responsible for sales, marketing, customer support
and distribution activities across the region. Working together,
the companies will initially focus on securing the required
regulatory approvals in India for the Genedrive(R) HCV ID Kit.
genedrive anticipates commercial activities to subsequently
commence during the latter part of its 2018/19 financial year.
David Budd, CEO of genedrive, commented: "We are extremely
pleased to extend our commercial reach into India with ARKRAY, who
have established an extensive and respected diagnostic sales and
support business in the Indian market. This agreement provides
access to another important and very relevant region for
Genedrive(R) through a world class commercial partner."
Mr Tadashi Inoue, President and CEO of ARKRAY Healthcare pvt
Ltd, commented: "The Genedrive(R) HCV ID Kit can provide a rapid
diagnostic result in a decentralised setting and has the potential
to help tackle the burden of this disease. We look forward to
incorporating the Genedrive(R) HCV ID Kit into our offering for
diagnosis and testing in India."
Genedrive(R) HCV ID Kit is a qualitative HCV RNA assay, designed
for use in a decentralised testing environment to deliver
actionable results within 90 minutes. It is performed on the
Company's portable molecular diagnostics platform,
Genedrive(R).
The person responsible for the release of this announcement on
behalf of the Company is Matthew Fowler, Chief Financial
Officer.
- Ends -
For further details please contact:
genedrive plc
David Budd: CEO +44 (0)161 989 0245
Matthew Fowler: CFO
Peel Hunt LLP
James Steel
+44 (0)207 418 8900
Oliver Jackson
Consilium Strategic Communications
Chris Gardner +44 (0)203 709 5700
Matthew Neal
Laura Thornton
genedrive@consilium-comms.com
Notes to Editors
About genedrive plc
genedrive plc is a molecular diagnostics company developing and
commercialising a low cost, rapid, versatile, simple to use and
robust point of need molecular diagnostics platform for the
diagnosis of infectious diseases and for use in patient
stratification (genotyping), pathogen detection and other
indications. The Genedrive(R) platform and Genedrive(R) HCV ID Kit
has received CE-IVD Certification and has recently been launched in
Africa. genedrive has distribution agreements with subsidiaries of
Sysmex Corporation for the distribution of the Genedrive(R)
platform in EMEA and SE Asia (ex India), and with ARKRAY Healthcare
pvt Ltd for the distribution of the Genedrive(R) HCV ID Kit and
Genedrive(R) platform in India.
Further details can be found at www.genedriveplc.com and
www.genedrive.com
About ARKRAY Healthcare Pvt Ltd
ARKRAY Healthcare, located in Mumbai, India is a 100% subsidiary
of ARKRAY Inc Japan. The Company has had a strong presence in India
since 2007 through its manufacturing, sales and distribution
network. ARKRAY is a leading IVD company and have global footprints
in more than 80 countries where it markets a wide range of IVD
products in the self-care, POC and Lab Diagnostics segments. In the
past few years, ARKRAY has been aggressively expanding its
portfolio into niche markets by partnering with global companies
and launching their products in the Indian market. The partnership
with genedrive plc for the launch of their Genedrive platform is
another step in this direction.
Further details can be found at: www.arkray.co.in/english and
www.arkray.co.jp/english.
About Hepatitis C
Hepatitis C (HCV) is an international public health challenge,
comparable to other major communicable diseases, including HIV,
tuberculosis and malaria. It is estimated that 71 million people
are living with chronic HCV, and more than 350,000 people die
yearly from HCV-related diseases. In 2016, WHO published the first
global health sector strategy on Hepatitis with a goal of
eliminating viral hepatitis as a major public health threat by
2030. New oral, well-tolerated treatment regimens can achieve cure
rates of well over 90%, however, access to rapid, inexpensive and
accurate diagnostics are a critical bottleneck that must be
addressed to eradicate HCV.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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