Premaitha Health PLC Trading Update and Notice of Results (8132D)
12 October 2018 - 5:00PM
UK Regulatory
TIDMNIPT
RNS Number : 8132D
Premaitha Health PLC
12 October 2018
Premaitha Health plc
("Premaitha" or the "Group")
Trading Update
&
Notice of Results
Manchester, UK - 12 October 2018: Premaitha Health plc (AIM:
NIPT), a leading international molecular diagnostics group, is
pleased to provide an update on trading for the six-month period
ended 30 September 2018 ("H1").
H1 revenues were approximately GBP3.9 million, an increase of 45
per cent over the corresponding period last year. The Company has
made a strong start to the second half of the year.
Additionally, the Company is pleased to note that all required
legal settlement actions relating to the patent infringement court
proceedings have now been completed.
Premaitha will publish its H1 results on or before 3 December
2018 and provide a business update at its Annual General Meeting on
25 October 2018.
Lyn Rees, Chief Executive Officer of Premaitha, commented: "I am
pleased to report strong sales growth in the first half of the
financial year and that this momentum has continued into the second
half. With the intellectual property litigation now behind us, the
Company is focused on capitalising on its global opportunity and
driving growth. We look forward to updating shareholders further on
the business at our forthcoming Annual General Meeting."
For more information, please contact:
Premaitha Health PLC Tel: +44 (0)161
Lyn Rees, Chief Executive Officer 667 1053
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
investors@premaitha.com
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213
Liam Murray / James Caithie 0880
finnCap (Broker) Tel: +44 (0)20 7220
Geoff Nash / Matthew Radley (Corporate Finance) 0500
Tim Redfern (Corporate Broking)
Vigo Communications Tel: +44 (0)20 7390
Ben Simons / Fiona Henson / Antonia Pollock 0234
premaitha@vigocomms.com
About Premaitha
Premaitha is an international molecular diagnostics group which
uses the latest advances in DNA analysis technology to develop
safer, faster and regulatory approved genetic screening tests.
The Group's current primary focus is on non-invasive prenatal
tests (NIPT) for pregnant women - an emerging, multi-billion dollar
global market - although the Group intends to expand its product
range into other areas of clinical genetics.
Premaitha's first product, the IONA(R) test was launched in 2015
as the first CE-IVD NIPT test in Europe. It enables laboratories
and healthcare practitioners to offer a complete CE-marked NIPT
system in-house. The IONA(R) test is performed on a maternal blood
sample - which contains traces of fetal DNA - and estimates the
risk of a fetus being affected with Down's syndrome or other
genetic conditions.
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 invasive follow up
diagnostic procedures, such as amniocentesis, which are costly,
resource intensive and carry a risk of miscarriage.
In March 2017, Premaitha acquired Yourgene Bioscience, a
specialist next generation sequencing and bioinformatics company
based in Taiwan, with its own NIPT screening solution that operates
on the same Thermo Fisher next-generation sequencing platform as
Premaitha's IONA(R) test. Yourgene brings significant benefits to
the Group through expanded market access in Asia - the world's
fastest growing NIPT market - as well as opportunities for
cross-selling and the ability to jointly develop expanded test
content both within NIPT and beyond.
Since May 2018, the Group has traded as Yourgene Health outside
of Europe (but remains as Yourgene Bioscience in Taiwan),
reflecting the increased scope of the business in other areas of
clinical genetics further to reproductive health; but maintains the
Premaitha Health brand within Europe.
Premaitha is headquartered in Manchester, England, with Yourgene
offices in Taipei and Singapore. 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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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