Premaitha Health PLC New partnership with European diagnostics group (6604W)
13 February 2017 - 6:00PM
UK Regulatory
TIDMNIPT
RNS Number : 6604W
Premaitha Health PLC
13 February 2017
Premaitha Health PLC
("Premaitha" or the "Company")
New partnership with major European diagnostics group
Manchester, UK - 13 February 2017: Premaitha Health PLC (AIM:
NIPT), developer of a leading CE-marked non-invasive prenatal
screening system, announces a partnership with a major
international diagnostics services group to implement the IONA(R)
test in at least two laboratories.
Premaitha, through its distribution network, has secured a
four-year Master Procurement Agreement (the "MPA") with a major
European diagnostics services group (the "Customer") to install the
IONA(R) test in at least two of the Customer's laboratories. The
Customer intends to provide non-invasive prenatal testing ("NIPT")
services to its international network through these laboratories,
with the potential to install the IONA(R) test in additional
laboratories in due course.
The Customer has a network of laboratories across Europe and is
a leading provider of diagnostic testing, carrying out more than
100 million diagnostic tests annually. The MPA sets out terms and
pricing under which the IONA(R) test can be offered across the
Customer's European hospital and laboratory network.
The first implementation under the MPA has already been agreed,
which will see the IONA(R) test installed in a central France
laboratory shortly. The second implementation is expected to
commence in a different European country during the course of
2017.
Premaitha's IONA(R) test estimates the risk of a fetus being
affected with Down's syndrome or other genetic conditions. The test
is performed on a maternal blood sample, containing traces of fetal
DNA, which is then analysed using next generation DNA sequencing
technology. The test is highly accurate and significantly reduces
the number of women who are unnecessarily subjected to risky,
invasive follow up procedures to diagnose Down's syndrome and other
genetic conditions.
Dr Stephen Little, CEO of Premaitha Health, commented: "We are
very pleased to have entered into this agreement with a major
European diagnostics provider that has such a significant network
of laboratories. The potential to further roll out across their
network is exciting and the IONA(R) test, as a productised CE-IVD
system, is very well-placed to capitalise on this opportunity."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)
161 667 6865
Dr Stephen Little, Chief Executive
Officer
Barry Hextall, Chief Financial
Officer
investors@premaitha.com
Cairn Financial Advisers LLP (Nomad) Tel: +44 (0)
20 7213 0880
Liam Murray / Jo Turner
finnCap (Joint Broker) Tel: +44 (0)
20 7220 0500
Adrian Hargrave / Scott Mathieson
(Corporate Finance)
Tony Quirke (Corporate Broking)
Vigo Communications Tel: +44 (0)
20 7830 9700
Ben Simons / Fiona Henson / Antonia
Pollock
premaitha@vigocomms.com
About Premaitha
Premaitha is a molecular diagnostics company which uses the
latest advances in DNA analysis technology to develop safer, faster
and regulatory approved non-invasive screening tests for pregnant
women.
Premaitha's lead test - the IONA(R) test - was launched in
February 2015 and is the leading CE marked complete system which
estimates the risk of a fetus being affected with Down's syndrome
or other genetic conditions. The IONA(R) test is performed on a
maternal blood sample - which contains traces of fetal DNA - and
then analysed using next generation DNA sequencing technology from
ThermoFisher Scientific.
Unlike existing prenatal screening methods, due to its high
level of accuracy, the IONA(R) test can significantly reduce the
number of women subjected to unnecessary stressful and invasive
follow up diagnostic procedures which are costly, resource
intensive and carry a risk of miscarriage.
Non-invasive prenatal screening is an emerging, multi-billion
dollar global market and Premaitha's complete CE Marked system
enables laboratories and health care practitioners to offer an
approved, non-invasive prenatal screening system in-house.
Premaitha is based in Manchester Science Park, United Kingdom
and 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 company news service from the London Stock Exchange
END
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