REG - Verici Dx PLC - Commercialisation agreement with Thermo Fisher

Verici DxAnnouncement

15/11/2023 07:15

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RNS Number : 4652T  Verici Dx PLC  15 November 2023

 Verici Dx plc

("Verici Dx" or the "Company")

 

Global licensing and commercialisation agreement with Thermo Fisher Scientific

 

Commercial agreement for exclusive license to Verici Dx Assay Technology for
further development of a pre-transplant diagnostic, including non-exclusive
access to Verici Dx's urine biorepository.

 

Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for
organ transplant, announces that it has signed an exclusive global licensing
agreement with Thermo Fisher Scientific, the world leader in serving science,
to further develop an assay for pre-transplant prognostic testing for risk of
early kidney rejection.

 

The exclusive license grants Thermo Fisher the rights to develop an assay for
pre-transplant risk assessment for further development as a Laboratory
Developed Test ("LDT") in its CLIA laboratory in the U.S., as well as the sole
right, but not obligation, to manufacture, distribute and sell the assay
worldwide. The license agreement includes an upfront payment to the Company,
along with a number of further payments conditional upon operational
deliverables related to technology transfer and related publications.

 

In addition, Verici Dx has granted Thermo Fisher a non-exclusive license for
access to a portion of the Company's urine samples, demonstrating the
additional value in the Company's data and sample assets for research.

 

Under the above arrangements, payment events for Verici Dx over the next 12
months are expected to total approximately $5 million with a further payment
thereafter, in addition to ongoing royalties on tests sold.

 

Commenting on the transaction, Sara Barrington, CEO of Verici Dx said: "We are
incredibly proud of our advancements in transforming potential outcomes for
kidney transplant patients. By collaborating with Thermo Fisher, we believe we
can accelerate the development of our technology, helping ensure that it
reaches those who need it the most."

 

Nicole Brockway, President, Transplant Diagnostics, Thermo Fisher Scientific,
said: "There is a significant need for effective tests that can identify the
risk of transplant rejection early to help inform treatment decisions. Our
hope is that this licensing agreement will allow us to develop a new
prognostic assay that will expand and strengthen our portfolio of transplant
testing solutions, demonstrating our commitment to enabling clinicians and
improving the lives of patients throughout the pre- and post-transplant
journey."

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

 

Enquiries:

 

 Verici Dx                                                www.v (http://www.vericidx.com) ericidx (http://www.vericidx.com) .com
                                                          (http://www.vericidx.com)
 Sara Barrington, CEO                                     Via Walbrook PR
 Julian Baines, Chairman

 Singer Capital Markets (Nominated Adviser & Broker)      Tel: 020 7496 3000
 Aubrey Powell / Sam Butcher / Jalini Kalaravy

 Walbrook PR Limited                                      Tel: 020 7933 8780 or vericidx@walbrookpr.com
                                                          (mailto:renalytix@walbrookpr.com)
 Paul McManus / Stephanie Cuthbert / Sam Allen            Mob: 07980 541 893 / 07502 558 258

 

 

About Verici Dx plc www.vericidx.com (http://www.vericidx.com)

 

Verici Dx is a developer of a complementary suite of leading-edge tests
forming a kidney transplant platform for personalised patient and organ
response risk to assist clinicians in medical management for improved patient
outcomes.  The underlying technology is based upon artificial intelligence
assisted transcriptomic analysis to provide RNA signatures focused upon the
immune response and other biological pathway signals critical for transplant
prognosis of risk of injury, rejection and graft failure from pre-transplant
to late stage.  The Company also has a mission to accelerate the pace of
innovation by research using the fully characterised data from the underlying
technology, including through collaboration with medical device,
biopharmaceutical and data science partners.

 

The foundational research was driven by a deep understanding of cell-mediated
immunity and is enabled by access to expertly curated collaborative studies in
highly informative cohorts in kidney transplant.

 

 

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