Genedrive PLC Grant for NHS point-of-care test (9237R)
20 June 2018 - 4:00PM
UK Regulatory
TIDMGDR
RNS Number : 9237R
Genedrive PLC
20 June 2018
For release: 20 June 2018
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")
Grant to develop and implement a point-of-care test in the NHS
to avoid antibiotic-related hearing loss in newborn children
Funded through UK NHS National Institute for Health Research
genedrive plc, the near patient molecular diagnostics company,
today announces its receipt of a multi-partner grant award from the
UK National Institute for Health Research's Invention for
Innovation programme, for the development and implementation of a
point-of-care pharmacogenetic test to avoid antibiotic-related
hearing loss in newborn children.
Due to an identified genetic predisposition, certain individuals
develop irreversible hearing loss when exposed to gentamicin, an
antibiotic used to treat several types of bacterial infections. In
the UK, approximately 90,000 babies per year are treated with
gentamicin on intensive care units. Antibiotic treatment should
start within the first hour after admission, but current lab-based
genetic tests are not able to return actionable results within that
timeframe. A Genedrive(R) test is targeted to allow genetic results
to be available within an hour, allowing alternative antibiotics to
be used and thus avoiding the potential life changing adverse
reaction to gentamicin.
The project is expected to commence immediately, with an
expected development phase of one year followed by a trial
implementation phase in selected NHS hospitals in year two. The
Company will then target the release of a Genedrive(R) test within
the NHS and more broadly. This project represents an important
landmark for the Company's Genedrive(R) platform as it is the first
potential application outside of the low and middle income markets
targeted with current HCV and mTB programmes. genedrive expects to
account for its GBP550,000 share of the project funding as income
which will be matched to costs incurred over the two year project.
The exact amount and timing of the income is expected to be
finalised shorlty by the signing of a collaboration agreement.
The consortium will be led by William Newman, Professor of
Translational Genomic Medicine at the University of Manchester and
Consultant at Manchester University NHS Foundation Trust. The team
includes partners from Liverpool and Manchester Neonatal Intensive
Care Units and is working closely with parents of children
previously treated on intensive care units.
Professor William Newman said: "We look forward to working with
genedrive and our colleagues in Manchester and Liverpool to assess
the impact of rapid genetic testing as a method of avoiding
irreversible hearing loss in babies treated with antibiotics.
Successful implementation would be a first in the integration of a
rapid decision making, genetic-based diagnostic in the UK NHS."
David Budd, Chief Executive Officer of genedrive plc, said: "The
application of Genedrive(R) in an urgent healthcare setting is an
excellent example of how a rapid, affordable, point-of-care test
could impact patients' treatment and quality of life. The NHS is a
huge market place and, if adopted, this would be the first
placement of Genedrive(R) in a developed world healthcare setting.
The project is an exciting opportunity to expand the markets in
which Genedrive(R) is used."
- 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) HCV-ID test has received CE-IVD
Certification and has been launched in Africa and Asia Pacific.
genedrive has distribution agreements with subsidiaries of Sysmex
Corporation for the distribution of the Genedrive(R) platform in
the 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 NIHR
'The National Institute for Health Research (NIHR): improving
the health and wealth of the nation through research.
Established by the Department of Health and Social Care, the
NIHR:
-- funds high quality research to improve health
-- trains and supports health researchers
-- provides world-class research facilities
-- works with the life sciences industry and charities to benefit all
-- involves patients and the public at every step
For further information, visit the NIHR website
(www.nihr.ac.uk)'.
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END
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