REG - Genedrive PLC - Initial orders of the Genedrive MT-RNR1 Products

GenedriveAnnouncement

24/05/2024 07:00

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RNS Number : 7273P  Genedrive PLC  24 May 2024

genedrive plc

("genedrive" or the "Company")

 

Initial orders of the Genedrive MT-RNR1 Products for new sites in the UK

 

genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company,
is pleased to announce that initial orders have been received for the
Genedrive MT-RNR1 products from a further five UK hospitals in the Greater
Manchester region as they progress towards the sustained deployment in
clinical practice in these Neonatal Intensive Care Units ("NICU").

 

The total value of the orders is in excess of £100,000 and the NICUs of the
five hospitals, The Royal Oldham Hospital, Stepping Hill Hospital, Royal
Bolton Hospital, Royal Albert Edward Infirmary and Tameside General Hospital
admit approximately 1,900 babies per year.  These additional sites more than
double the number of NICUs in the UK using the test in routine practice.

 

The Genedrive® MT-RNR1 ID Kit is a simple non-invasive test that can identify
babies in NICU with an MT-RNR1 genetic variant rapidly in approximately 26
minutes who may be at high risk of hearing loss if given aminoglycoside
antibiotics, enabling rapid clinical decisions on antibiotic prescribing in
neonatal emergency care, and the avoidance of administration of
aminoglycosides in those individuals in which the genetic variant is present.

 

The Genedrive® MT-RNR1 test received conditional recommendation from the UK's
National Institute for Health and Care Excellence ("NICE") in March 2023,
enabling its use in the NHS whilst further evidence is generated.  Plans for
generating the required further evidence are underway, with the goal of
enabling transition from conditional to full recommendation by NICE, which in
turn is expected to facilitate funding for the test at a national level.

 

James Cheek, CEO of genedrive plc, said: "I am delighted to see the positive
effects of our direct to customer commercialisation strategy in the UK, with
further NHS engagement and uptake for bringing this vital test which has the
potential to avoid profound, irreversible hearing loss in babies in neonatal
care units into day-to-day use in neonatal emergency care.  Our expectation
is that more NHS trusts will adopt this simple to use point of care genetic
test in the coming months and we continue to grow our opportunities overseas."

 

Ajit Mahaveer, Clinical Lead for the Northwest Neonatal Operational Delivery
Network (NWNODN), said: "The implementation of the Genedrive MT-RNR1 test
across all neonatal sites in Greater Manchester represents a significant
advancement in preventing hearing loss in infants and enabling rapid genetic
testing at the bedside".

 

Jonathan Massey, Programme Director for Academia at Health
Innovation Manchester said: "Health Innovation Manchester is pleased to
continue to work with genedrive and our academic and health partners to ensure
the sustained deployment of this innovative test across the whole of Greater
Manchester".

 

The Company also confirms that the following Directors have completed their
applications to participate via the REX Retail Offer or the Open Offer in the
Fundraising that was announced on 9 May 2024. The £ sterling amount of the
applications are as follows: Russ Shaw £25,500, Gino Miele £15,000, Ian
Gilham £10,000 and Chris Yates £3,000. As previously announced, on 9 May
2024 James Cheek and Tom Lindsay both acquired Firm Placing Shares to the
value of c.£10,000.

For further details please contact:

 

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

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

 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.genedriveplc.com
(http://www.genedriveplc.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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