REG - Genedrive PLC - Further re Shareholder Loan

GenedriveAnnouncement

19/11/2025 07:00

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RNS Number : 1477I  Genedrive PLC  19 November 2025

 

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF
REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF
16 APRIL 2014 ON MARKET ABUSE (MARKET ABUSE REGULATION) AS RETAINED AS PART OF
UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED.

 

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

genedrive plc

("genedrive" or the "Company")

 

Further re Shareholder Loan

 

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company,
is pleased to announce that further to the announcement of 31 October 2025 in
relation to a potential shareholder loan (the "Loan") from David Nugent, a
significant shareholder in the Company, that heads of terms for the Loan have
now been agreed between the parties.

 

Subject to the signing of definitive agreements it is proposed that the Loan
will include the following key terms:

 

·    An aggregate amount of £1 million which can be drawn down by the
Company in two equal tranches of £500,000 with the first tranche to be
available to be drawn from the time that definitive legal agreements are
entered into.

·    When drawn the Loan will be secured against a fixed and floating
charge over all of the Company's assets including its intellectual property
and patents, until repaid in full.

·    The first £500,000 tranche will be provided to genedrive without any
commitment fees, charges or interest whereas the second tranche, if drawn,
would incur a one-off fixed charge of £50,000 which will be added to the
total amount of the loan when repaid.  The second tranche can be drawn post
20 February 2026.

·    The Loan is for a maximum period of twelve months from the date that
the Loan documentation is signed.

 

The entering into of the Loan will represent a related party transaction under
AIM Rule 13.

 

Dr Gino Miele, CEO of genedrive plc, said: "With heads of terms now agreed
with David we will look to rapidly progress documentation to provide the
Company with the optionality of accessing this Loan.  On behalf of the Board
I would like to extend my thanks to David for his indicated support for the
Company which would significantly improve the Company's working capital
position."

 

Mr David Nugent, said: "I look forward to further constructive discussions
with Gino and the Board and ultimately ensuring that the Company has the
financial and other resources it needs to deliver for patients and
shareholders."

 

For further details please contact:

 genedrive plc                                                               +44 (0)161 989 0245
 Gino Miele: CEO / Russ Shaw: CFO

 Peel Hunt LLP (Nominated Adviser and Broker)                                +44 (0)20 7418 8900
 James Steel

 Walbrook PR Ltd (Media & Investor Relations)      +44 (0)20 7933 8780 or genedrive@walbrookpr.com
                                                   (mailto:genedrive@walbrookpr.com)
 Anna Dunphy                                                                 +44 (0)7876 741 001

 

About genedrive plc ( http://www.genedrive.com (http://www.genedrive.com) )

 

genedrive plc is a pharmacogenetic testing company developing and
commercialising a low cost, rapid, versatile and simple to use point of need
pharmacogenetic platform for the diagnosis of genetic variants. This helps
clinicians to quickly access key genetic information that will aid them make
the right choices over the right medicine or dosage to use for an effective
treatment, particularly important in time-critical emergency care healthcare
paradigms. Based in the UK, the Company is at the forefront of Point of Care
pharmacogenetic testing in emergency healthcare. Pharmacogenetics informs on
how your individual genetics impact a medicines ability to work for you.
Therefore, by using pharmacogenetics, medicine choices can be personalised,
made safer and more effective. The Company has launched its two flagship
products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit,
both developed and validated in collaboration with NHS partners and deployed
on its point of care thermocycler platform. Both tests are single-use
disposable cartridges which are ambient temperature stable, circumventing the
requirement for cold chain logistics. The Directors believe the Genedrive®
MT-RNR1 ID Kit is a worlds-first and allows clinicians to make a decision on
antibiotic use in neonatal intensive care units within 26 minutes, ensuring
vital care is delivered, avoiding adverse effects potentially otherwise
encountered and with no negative impact on the patient care pathway. Its
CYP2C19 ID Kit which has no comparably positioned competitor currently allows
clinicians to make a decision on the use of Clopidogrel in stroke patients in
70 minutes, ensuring that patients who are unlikely to benefit from or suffer
adverse effects from Clopidogrel receive an alternative antiplatelet
therapeutic in a timely manner, ultimately improving outcomes. Both tests have
undergone review by the National Institute for Health and Care Clinical
Excellence ("NICE") and have been recommended for use in the UK NHS. The
Company has a clear commercial strategy focused on accelerating growth through
maximising in-market sales, geographic and portfolio expansion and strategic
M&A, and operates out of its facilities in Manchester.

 

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