REG - Genedrive PLC - NICE Early Value Assessment update

GenedriveAnnouncement

19/02/2024 07:00

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RNS Number : 5161D  Genedrive PLC  19 February 2024

genedrive plc

("genedrive" or the "Company")

 

 NICE Early Value Assessment update

 

genedrive plc (AIM: GDR), the point of care Pharmacogenetic testing company,
notes the opening of the NICE Early Value Assessment ("EVA") evidence
generation funding call, supported by the National Institute for Health and
Care Research (NIHR). The programme works in collaboration with the Office for
Life Sciences (OLS) and the National Institute for Health and Care Excellence
(NICE). The Real World Evidence Programme is backed by £10 million of
government funding, as part of the UK Government's Life Sciences Vision.

 

The programme is aimed at addressing real world evidence gaps to accelerate
widespread adoption of technologies, that have been recommended for use in the
NHS through the NICE EVA framework.

 

Genedrive confirms that it is in the process of submitting an application for
funding to address the NICE EVA evidence generation recommendations of the
Genedrive® MT-RNR1 ID Kit, which are required for progressing the NICE
conditional recommendation into a full recommendation.

 

Further details of the programme, which is due to start in October 2024 can be
found here:
https://www.nihr.ac.uk/funding/nihr-i4i-and-ols-real-world-evidence-programme/34713
(https://www.nihr.ac.uk/funding/nihr-i4i-and-ols-real-world-evidence-programme/34713)

 

James Cheek, Chief Executive Officer of genedrive plc, said: "We are
delighted that funding is to be made available for the real world evidence
generation for the NICE EVA technologies to achieve full NICE guidance. This
gives the potential for our Genedrive® MT-RNR1 ID Kit to move from a
conditional recommendation to a full recommendation with NICE, and accelerate
adoption of the kit in the NHS."

 

 

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, simple to use and robust point
of need pharmacogenetic platform for the diagnosis of genetic variations. This
helps clinicians to quickly access key genetic information that will help them
make the right choices over the right medicine or dosage to use for an
effective treatment. Based in the UK, the Company is at the forefront of work
on Point of Care pharmacogenetics. Pharmacogenetics looks at how your genetics
impacts a medicines ability to work for you. Therefore, by using
pharmacogenetics, medicines can be made safer and more effective. The Company
has launched its flagship product, the Genedrive® MT-RNR1 ID Kit, which is a
single-use disposable cartridge that circumvents the requirement for cold
chain logistics by providing temperature stable reagent test kits for use on
their proprietary test platform. This test allows clinicians to make a
decision on antibiotic use within 26 minutes; ensuring vital care is delivered
with no negative impact on the patient pathway.

 

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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