TIDMHZD
Horizon Discovery Group plc
16 November 2016
Horizon Discovery Enters Chinese Clinical Diagnostics Market
-- Three leading Chinese diagnostic kit manufacturers have
initiated clinical trials using Horizon HDx(TM) Reference
Standards
-- Agreements provide upfront revenue with potential for strong
recurring revenue streams post regulatory approvals
Cambridge, UK, 16 November 2016: Horizon Discovery Group plc
(LSE: HZD) ("Horizon"), the world leader in the application of gene
editing technologies, today announces that it has entered into
partnerships with three leading Chinese diagnostic kit developers.
Under the terms of the agreements, Horizon will provide HDx
Reference Standards for novel Next Generation Sequencing (NGS)
assay development, clinical trials, and ultimately for inclusion as
in-kit controls under Original Equipment Manufacturer (OEM)
agreements.
Under these agreements, Horizon will support the development of
new NGS diagnostic assays that, upon approval by the Chinese FDA,
will be used to identify which patients would benefit from
receiving novel targeted therapies to treat solid and liquid
tumours.
The developers will initially pay Horizon for Reference
Standards for use as quality controls in their assay development
and clinical trial programmes, with typical revenues expected from
each programme in the mid- to high five figure (sterling)
range.
Assays in China are under obligation by the Chinese FDA not to
make any changes in the format of the test for a period of five
years from approval, and so Horizon is in discussions with each
developer to provide Reference Standards as in-kit controls for a
minimum of five years post-clearance. Cleared assays under such
agreements would provide Horizon with expected revenues in the six
figure (sterling) range per annum. Each developer is anticipated to
develop three to four assays per year over the next several years
with Horizon providing Reference Standards for each. The first
assays are anticipated by partners to be approved in 2018.
Based on this initial work, Horizon is now being approached for
additional partnerships with the estimated 20-30 other players in a
market which is among the fastest growing in the world, with strong
double digit growth rates expected to reach US$ 10 Billion by
2021(1) .
Dr. Darrin Disley, CEO, Horizon Discovery Group, commented: "Our
leadership and brand reputation has allowed us to enter the
important Chinese market, leading with our HDx reference standards
and Bioproduction cell lines. Our dedicated emerging markets team,
under the leadership of Dr. Liangshen Wei, is establishing the
relationships and status necessary to succeed in this large,
growing, but complex market. Today's announcement is a validation
of this effort as we establish Horizon as the preeminent provider
of Reference Standards to China, initially for NGS applications and
soon expanding to other genomic assays and
immunohistochemistry."
- ENDS -
1. China In Vitro Diagnostics (IVD) - Opportunity Assessment,
Competitive Landscape and Market Forecasts to 2021, DPI Research,
2016
For further information about Horizon Discovery Group plc,
please contact:
Horizon Discovery Group plc
Chris Claxton, VP Investor Relations and Corporate
Communications
Tel +44 (0) 1223 655 580
Consilium Strategic Communications (Financial Media and Investor
Relations)
Mary-Jane Elliott, Susan Stuart, Matthew Neal, Melissa
Gardiner
Tel: +44 (0) 20 3709 5701
Email: horizon@consilium-comms.com
Zyme Communications (Trade and Regional Media)
Katie Odgaard
Tel: +44 (0)7787 502 947
Email: katie.odgaard@zymecommunications.com
Numis Securities Limited (Joint Broker and NOMAD)
Michael Meade / Freddie Barnfield
Tel: +44 (0) 207 260 1000
RBC Capital Markets (Joint Broker)
Paul Tomasic / Marcus Jackson
Tel: +44 (0) 20 7653 4000
Notes for Editors:
About Horizon Discovery Group plc www.horizondiscovery.com/
Horizon Discovery Group plc (LSE: HZD) ("Horizon"), is a
world-leading gene editing company that designs and engineers
genetically-modified cells and then applies them in research and
clinical applications that advance human health.
Horizon's core capabilities are built around its proprietary
translational genomics platform, a highly precise and flexible
suite of gene editing tools (rAAV, ZFN and CRISPR) able to alter
almost any gene sequence in human or mammalian cell-lines.
Horizon offers over 23,000 catalogue products and related
research services, almost all of which are based on the generation
and application of cell and in vivo models that accurately
recapitulate the disease-causing genetic anomalies found in
diseases like cancer. Horizon's commercial offering has been
adopted by c1,600 unique research organisations in over 50
countries as well as in the Company's own R&D pipeline to
support a greater understanding of the genetic drivers of disease
and the development of molecular, cell and gene therapies that can
be prescribed on a personalised basis.
Horizon is headquartered in Cambridge, UK, and is listed on the
London Stock Exchange's AIM market under the ticker "HZD".
This information is provided by RNS
The company news service from the London Stock Exchange
END
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