Pre-Close Trading Update

RNS Number : 3300J

Epistem Holdings plc

06 August 2012

 

Company               Epistem Plc

TIDM                       EHP.L (AIM)

Headline                Pre-Close Trading Update and announcement of TB partnership with Becton Dickinson for the
                                Supply and Distribution of Genedrive™ Molecular Point of Care Platform

Released                6^th August 2012: 7.00am UK

Number

Epistem Holdings Plc

("Epistem" or "the Company")

Pre-Close Trading Update and announcement of TB partnership with Becton Dickinson for the Supply and Distribution of Genedrive™ Molecular Point of Care Platform

Epistem (AIM: EHP), the biotechnology and personalised medicine company, today announces a pre-close trading statement for the year ended 30^th June 2012 and the signing of a TB diagnostic supply and distribution agreement with BD (Becton, Dickinson and Company) a leading global medical technology group.

The Company is pleased to announce that trading over the full year is expected to be broadly in-line with market forecasts.

The Company expects to release its final results for the year ended 30^th June 2012 on Tuesday 16^th October 2012 and will hold an analysts' meeting on the day at Peel Hunt LLP, Moor House, 120 London Wall, London EC2Y 5ET.

The Company is also pleased to announce that it has reached agreement with BD for the supply and distribution of its Mycobacterium tuberculosis (TB) test on a global basis (excluding India and the Indian Sub Continent) using its Genedrive™ platform.  The TB supply and distribution agreement includes an upfront payment of $1m with further milestone payments of up to $3m, alongside escalating supply volumes over the next 5 years.

Genedrive™ provides a major advance in next generation molecular diagnostic testing by providing a rapid, low cost, simple to use 'Point of Care' device with high sensitivity and specificity. Genedrive™ aims to provide a 'gold standard' identification of TB and antibiotic resistance testing. 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 TB test have recently received CE-IVD registration and regulatory submissions are now in preparation for the Indian market. 

Globally, nearly 10 million cases of TB are reported annually and over $1bn dollars is spent annually on diagnostic testing, with India and China having the largest numbers of TB sufferers.

Epistem's Genedrive™ platform has applications across a wide range of bacterial, viral and fungal and somatic mutation diseases for which the Company is developing a menu of diagnostic tests.

For further information contact:

Epistem Plc

Matthew Walls, Chief Executive Officer                                ++44 161 606 7258
John Rylands, Chief Financial Officer

Peel Hunt LLP

Nominated Adviser: James Steel/Vijay Barathan                   ++44 207 418 8900

De Facto Financial

Mike Wort/Anna Dunphy                                                        ++44 207 556 1063

Notes for editors

About Epistem:

Epistem is a biotechnology company commercialising its expertise in stem cells in the areas of epithelial (oncology, gastrointestinal and dermatological) and infectious diseases. Epistem develops innovative therapeutics, biomarkers and diagnostics (Genedrive™) alongside contract research services to drug development companies. The Group's core expertise is focused around the regulation of adult stem cells located in epithelial tissue including the gastrointestinal tract, skin, hair follicles, breast and prostate and utilizing novel and proprietary next generation molecular biology for use in personalised medicine. www.epistem.co.uk

 

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