Announcement
Genedrive PLC : Distribution agreement for AIHL test
RNS Number : 7231K
Genedrive PLC
24 April 2020
genedrive plc
("genedrive" or the "Company")
Distribution agreement for AIHL test
Inspiration Healthcare to distribute genedrive's Antibiotic Induced Hearing Loss test in UK & Ireland
Option to expand agreement to engage Inspiration Healthcare's global neonatal sub-distributor network
genedrive plc (AIM: GDR), the near patient molecular diagnostics company, announces that it has entered into a contract for the distribution of the Company's Antibiotic Induced Hearing Loss test (Genedrive® MT-RNR1) in the UK and Ireland with Inspiration Healthcare Group plc (AIM: IHC) ("Inspiration Healthcare"). The companies also expect to expand the scope of the contract over time to engage Inspiration Healthcare's specialty network of over 50 neonatal focussed sub-distributors around the world.
David Budd, Chief Executive Officer of genedrive plc, said: "Our agreement with Inspiration Healthcare combines genedrive's innovative first-to-market AIHL product, with a thought leading healthcare company with a specialist emphasis on neonatal care. Inspiration Healthcare has a strong track record in the introduction of new technologies and over many years they have developed an extensive network of key opinion leaders that will be very beneficial as we bring the Genedrive AIHL test to market together."
The Genedrive ® MT-RNR1 test is the world's first point-of-care genetic test designed for use in a neonatal intensive care setting. The test screens newborns for a genetic mutation called mt-RNR1 that can cause lifelong and irreversible deafness to a child upon administration of certain antibiotics. In the UK, 90,000 babies are admitted to NICU units each year, and 80-85% of them receive antibiotics. Genedrive's rapid genetic test can be completed in less than 30 minutes, allowing for correct treatment decision on antibiotics to be made within one hour of admission, as required by the UK's National Institute of Clinical Excellence (NICE).
Neil Campbell, Chief Executive Officer of Inspiration Healthcare, commented : "We are delighted to be able to work with genedrive plc with this novel testing device for new born babies that could suffer hearing loss due to antibiotics given to them on admission into neonatal intensive care. Our focus has always been products that can have a profound effect on the patient outcome and we look forward to working with genedrive to make this test the standard of care in the UK and the wider neonatal community around the world."
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genedrive plc |
+44 (0)161 989 0245 |
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David Budd: CEO / Matthew Fowler: CFO |
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Peel Hunt LLP (Nominated Adviser and Joint Broker) |
+44 (0)20 7418 8900 |
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James Steel / Oliver Jackson |
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finnCap Ltd |
+44 (0)20 7220 0500 |
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Geoff Nash / Kate Bannatyne / Alice Lane |
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Walbrook PR Ltd (Media & Investor Relations) |
+44 (0)20 7933 8780 or [email protected] |
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Paul McManus / Anna Dunphy |
+44 (0)7980 541 893 / +44 (0)7876 741 001 |
About genedrive plc ( http://www.genedriveplc.com )
genedrive plc is a molecular diagnostics company developing and commercialising a low cost, rapid, versatile, simple to use and robust point of need molecular diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. The Company has assays on market for the detection of HCV, certain military biological targets, Antibiotic Induced Hearing Loss, and has tests in development for tuberculosis (mTB) and SARS-CoV-2.
About Inspiration Healthcare (http://www.inspiration-healthcare.com)
Inspiration Healthcare is a global provider of medical technology for use in critical care & operating theatres. The Company provides high quality innovative products to patients around the world which help to improve patient outcomes and it actively invests in innovative product opportunities and disruptive technologies.
Through investment in research and development the Company has 6 key own brand products that can be used within the first 6 hours of life to help premature and sick babies; helping with assessment, resuscitation, stabilisation as well as preventing brain damage. Additionally the Company has its own range of products for maintaining normothermia pre- during and post-surgery.
With product availability extending to over 50 countries through a distribution network, Inspiration Healthcare's success has been built on continuous innovation, excellent customer service and an inherent commitment to improving patient outcomes, working in close collaboration with key opinion leaders across the globe. In the UK and Ireland the Company has a direct sales team selling Inspiration Branded and complementary products from third parties, with an additional range of home healthcare products. This is supported by Technical Support for planned preventative maintenance and emergency assistance.
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