Genedrive PLC cGBP1.2m grant awarded (0336O)
28 September 2023 - 9:35PM
UK Regulatory
TIDMGDR
RNS Number : 0336O
Genedrive PLC
28 September 2023
genedrive plc
("genedrive" or the "Company")
Genedrive to benefit from cGBP1.2m grant awarded for the
validation of the Genedrive(R) CYP2C19 ID Kit
genedrive plc (AIM: GDR), the point of care molecular
diagnostics company, provides an update on its participation in a
multi-partner grant award ("DEVOTE") from Innovate UK and the UK
government Innovation Accelerator programme which it announced on
16 June 2023.
The Development and Validation of Technology for Time Critical
Genomic Testing (DEVOTE) grant will provide the Company with acute
care patient access and supporting infrastructure to assess the
real world clinical performance of time-critical clinical tests in
NHS settings. The Company confirms it expects to benefit from
funding of approximately GBP1.2m, through the programme's lead
partner, the University of Manchester ("UoM") that will support the
evaluation, validation and implementation of the new Genedrive(R)
CYP2C19 ID Kit. DEVOTE is funded through the Innovate grant,
in-kind contributions, and other aligned funding, the vast majority
of this funding will be paid directly to the UoM to support the
Company's initiatives.
The draft guidance from the UK's National Institute for Health
and Care Excellence ("NICE") Diagnostics Assessment Programme
"Clopidogrel genotype testing after ischaemic stroke or transient
ischaemic attack" has recommended that CYP2C19 genotyping should be
used before clopidogrel administration in the management of
ischemic stroke patients. NICE's final report is now due in
December 2023, and the Company is working to provide final
performance specifications for the report. The work for DEVOTE will
mostly contribute towards the extended clinical performance data
now required for IVDR registration of new products in the EU.
James Cheek, Chief Executive Officer of genedrive plc, said:
"The DEVOTE programme is an incredible opportunity for us to
partner once again with the University of Manchester in developing
time-critical genetic test solutions. The grant funding allows us
to avoid costs that would otherwise have been incurred by genedrive
directly and to benefit from accessing the Acute Medicine Unit,
which is paramount to our product validation under IVDR."
For further details please contact:
genedrive plc +44 (0)161 989 0245
James Cheek: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser
and Joint Broker) +44 (0)20 7418 8900
James Steel / Patrick Birkholm
Cavendish Capital Markets Ltd (Joint
Broker) +44 (0)20 7220 0500
Geoff Nash
Walbrook PR Ltd (Media & Investor +44 (0)20 7933 8780 or genedrive@walbrookpr.com
Relations)
+44 (0)7980 541 893 / +44 (0)7876
Paul McManus / Anna Dunphy 741 001
About genedrive plc ( http://www.genedriveplc.com )
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 Company has launched the Genedrive(R) MT-RNR1 ID
Kit for detecting a genetic variant to guide antibiotic use and
prevent hearing loss in babies and are currently developing a
genetic test for CYP2C19 metaboliser status, a treatment for
stroke.
About DEVOTE
The Development and Validation of Technology for Time Critical
Genomic Testing (DEVOTE) Programme is a collaboration between
academics, clinicians, and industry partners. It aims to accelerate
the adoption of genomic technology into clinical practice by
supporting companies through each aspect of the translational
pathway.
For more information contact info@devoteprogramme.com .
Programme information is available at
https://www.devoteprogramme.co.uk/
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