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Genedrive PLC

15 January 2024

 

genedrive plc

("genedrive" or the "Company")

Application for Listing

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genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, confirms that in order to support the further drawdown and delivery of its £5M Equity Prepayment facility that was announced on 31 March 2023, application has been made for the Admission to trading on AIM of 3,900,000 new Ordinary Shares of 1.5p each ("New Ordinary Shares").  Admission of the New Ordinary Shares ("Admission") is expected to occur on 19 January 2024.  Following Admission, the New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares.  

Following Admission the Company's issued share capital will consist of 130,089,946 Ordinary Shares of 1.5p each and this figure may be used by shareholders as the denominator for the calculations by which they should determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further details please contact:

genedrive plc	[phone]
James Cheek: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser and Broker)	[phone]
James Steel / Patrick Birkholm
Walbrook PR Ltd (Media & Investor Relations)	[phone] or [e-mail]
Anna Dunphy	[phone]

About genedrive plc (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 which 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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