Launch of Yourgene Genomic Services

RNS Number : 2154A

Yourgene Health PLC

28 September 2020

 

Yourgene Health plc

("Yourgene" or the "Group" or the "Company")

Launch of Yourgene Genomic Services

Manchester, UK - 28 September 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces the launch of Yourgene Genomic Services, an integration and expansion of the Company's international service laboratory offerings.  Yourgene Genomic Services becomes a global laboratory service network equipped to be a full life-cycle partner for clinical, research and pharmaceutical organisations.  

Yourgene Genomic Services ("YGS") will bring together a number of Yourgene's core capabilities, creating a service business that supports partners at the preclinical, clinical, and post-market stages as they develop, manufacture, obtain regulatory approval and commercialise new products and services.  YGS will consolidate the Company's established NIPT and rapidly growing COVID-19 testing laboratories in Manchester, along with Yourgene's research, oncology and NIPT services in Taiwan. In addition, the Company is expanding its service offering for contract research organisations ('CRO'), pharmaceutical and biotech partners, which now operates from Manchester as well as Taipei.  The provision of the new CRO core services at the Company's UK headquarters has been enabled by the integration of newly acquired capital equipment and customer relationships plus the recruitment of a new team with longstanding blue-chip pharmaceutical industry relationships under the banner of Ex5 Genomics Ltd.

The additional CRO core services to be provided by Yourgene will also support the Company's contract development programmes for partnering with external organisations on their product development roadmap.  The YGS team has the capability and expertise to offer a full companion development service, from biomarker discovery through to IVD test development and regulatory submissions. To accommodate the expanding CRO core services and facilitate the growth of Yourgene's COVID-19 testing capacity, the Company is investing over £0.5m in expanding and upgrading its laboratory facilities, equipment and teams in both Taipei and Manchester.  

The integrated Yourgene Genomics Services team is already operational and is progressing quality accreditations required to open up additional market segments.  The Company will explore additional YGS locations in due course, with a view to offering a seamless 24/7 global laboratory services network. 

Lyn Rees, CEO of Yourgene, commented: "The launch of our Genomic Services is another important development for Yourgene and the integration of the Ex5 team is enabling the Company to develop some important blue-chip pharmaceutical & CRO partnerships in the UK, alongside our existing collaborations in Taiwan . We are investing heavily in our expansion and anticipate that the newly integrated and expanded CRO service offering will contribute significantly to our international growth over the coming years.  The provision of an enhanced range of services on a global scale is expected to support our revenue growth and we look forward to updating shareholders on our progress."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Yourgene Health plc Lyn Rees, Chief Executive Officer		Tel: [phone] [e-mail]
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD)		Tel: [phone]
Liam Murray / James Caithie / Ludovico Lazzaretti
N+1 Singer (Joint Corporate Broker)		Tel: [phone]
Aubrey Powell / Tom Salvesen / George Tzimas
Stifel Nicolaus Europe Limited (Joint Corporate Broker)		Tel: [phone]
Nicholas Moore / Matthew Blawat / Ben Maddison
Walbrook PR Ltd (Media and Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus / Lianne Cawthorne		Mob: [phone] / Mob: [phone]

About Yourgene Health plc

Yourgene is an international molecular diagnostics group which develops and commercialises genetic products and services. The group works in partnership with global leaders in DNA technology to advance diagnostic science. 

Yourgene develops and commercialises simple and accurate molecular diagnostic solutions, for reproductive health and molecular genetics. The Group's products include non-invasive prenatal tests (NIPT) for Down's Syndrome and other genetic disorders, Cystic Fibrosis screening tests, invasive rapid aneuploidy tests, male infertility tests and genetic disease tests. Yourgene's commercial footprint is already established in the UK, Europe, the Middle East, Africa and Asia.

Our product development, research service and commercial capabilities extend across the lifecycle of genetic test development including regulatory submissions. Through our technical expertise and partnerships, Yourgene is also extending its genetic testing offering into oncology.

Yourgene is headquartered in Manchester, UK with offices in Taipei and Singapore, and is listed on the London Stock Exchange's AIM market under the ticker "YGEN". For more information, visit www.yourgene-health.com and follow us on twitter @Yourgene_Health.

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

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