NIH Response to UMB proposal

RNS Number : 5219N

Epistem Holdings plc

18 May 2015

 



RNS Press Release

For release: 18 May 2015

NIH Response to UMB proposal for Radiation/Nuclear Medical Countermeasure (MCM) Product Development Support Services

Epistem Holdings Plc (LSE: EHP), the personalised medicine and biotechnology company, announces today that the National Institutes of Health (NIH) and the National Institute of Allergy and Infectious Diseases (NIAID) has completed its evaluation of the University of Maryland Baltimore (UMB) response to its request for proposals for Radiation/Nuclear Medical Countermeasure, for which EpistemÕs Preclinical Research Services division acts as a sub-contractor, and this proposal has not been selected for an award. As NIAID/BARDA/US-DoD recognised subject material experts in radiation damage, Epistem fully expects to continue to tender and work on other MCM developments. The NIH-NIAID/UMB contract has traditionally generated approximately £1m in annual revenues for the Preclinical Services Division.

Commenting on the announcement Matthew Walls, CEO of Epistem said ÒWhilst we are yet to receive formal notice from UMB as a sub-contractor to this award we have recently learned that UMBÕs proposal was not successful. We do not expect this decision to affect our current year market guidance to June 2015 as we will be continuing to work under the existing NIH-NIAID/UMB contract through to the end of calendar 2015.  We anticipate further developments in the MCM programme which we will report in due course. We are currently preparing for our first Genedrive unit and assay sales into India and our personalized medicine division offers numerous high growth opportunities ahead.Ó        

For further details please contact:

Epistem Plc

Matthew Walls: Chief Executive Officer                                                         ++44 (0)161 606 7258

John Rylands: Finance Director                                                                                                                                                          

Peel Hunt LLP

James Steel                                                                                                           ++44 (0)207 418 8900

Clare Terlouw

Walbrook PR

Mike Wort                                                                                                             ++44 (0)207 933 8780

Anna Dunphy

Notes for editors

Epistem is a personalised medicine and biotechnology company developing innovative diagnostics and biomarkers alongside providing contract research services to drug development companies.

Genedrive¨ provides a major advance in molecular diagnostic testing by providing a rapid, low cost, simple to use 'Point of Care' device with high sensitivity and specificity for the diagnosis of infectious diseases and for use in patient stratification (genotyping). Genedrive¨ aims to provide a 'gold standard' identification of Tuberculosis & antibiotic resistance. The World Health Organisation (WHO) has publicly recommended that nations incorporate new rapid molecular tests for Tuberculosis into their disease testing programs. The Genedrive¨platform and its first Tuberculosis test is now being prepared for launch in India and the Indian sub-continent.  Genedrive¨ is undergoing clinical studies in countries across the World after which regulatory submissions will be filed to enable global access and roll-out of EpistemÕs first Tuberculosis test product. Further details can be found at: www.genedrive.com and www.epistem.co.uk

 

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