If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That's mental. Glad to be associated with the professionalism upheld by Ygen. They probably got a first hand look at how NCYT were conducting business and thought they can do it better. At the end of the day it's about working smarter not harder and LR has clearly seen a better route for YGEN in this market.
all smacks of desperation to me! Glad we are not part of it.
A lot of the audit was done remotely via Skype for Business. Sharing documents, video calls from home offices – it was certainly different, but it worked perfectly. Walk through video audits using a mobile phone meant the auditor could see evidence of our PAT testing, asset procedures and everything else they needed to complete the certification audit.
“The paper work requirements were immense. It was difficult – but nothing compared to setting up a lab in six days! Getting it over the line though is a huge credit to our team and LR. Without LR, we couldn’t have made the kits – and we couldn’t have helped save lives. It’s as simple as that.”
or should I say the ISO accreditation inspection was done with a mobile phone, jeeez!
apparently the ISO audit process was all done online with a mobile phone!!!!
Hopefully this is where I was trying to gauge the detail of exactly what relationship was going on between Novacyt and Yourgene. It seemed rather odd that NCYT should suddenly cut Yourgene out of the picture by contracting out more of the work to other minor companies. I suspect Yourgene management "saw the light" and realised that they needed to 'extract' themselves away from NCYT. Particularly given that any issues in terms of quality, accuracy, costs, profit etc would seem to be in the wrong ball park.
As for ISO Quality status, people shouldn't view that as meaning too much. I know - I used to do or be involved in ISO 9000/CM2000 audits when working for likes of HP, Marconi, BAE etc. The best way to look at any ISO Quality standard is that is is exactly like a Car MOT. It only proves that the "MOT Inspector" believes the system is "Fit For Purpose" during the inspection period.
It's all too easy to 'blinker' and 'drive' an ISO Inspector down the Rabbit Hole so to speak to try to prevent them from seeing any holes in the system.
In addition, once the Inspection is over, its very easy for companies to fall by the wayside, ignore ISO processes and conduct business - often on the basis that they think they can "PATCH UP" any holes later on before the next Audit (normally every 4 years).
So I suspect YGEN management have taken the very prudent approach of extracting themselves and following a much better Business path.
It all bodes VERY WELL indeed as it gives me every confidence that the YGEN BOD are not only managing the business well but also mitigating potential Risks.
Mega happy with state of play at present :-) :-) :-)
jeeez! This is how they recruit says the CEO . Nothing like rushing into things is there!
'Using social media, I quadrupled the workforce in a week, recruiting lab technicians and diagnostics experts who had been made redundant or needed jobs and trained them online'.
cooper.... hopefully we won't have a second wave and testing will be a key component of this. fingers cross.
It seems to me that Ygen by carrying out the work for NCYT obviously realised that they could just as easily be doing this for themselves. Why not, we have everything required to make a success of this and testing is a huge part of the new way of life for everyone. Also the potential for a second wave during the winter months if not before.
Ygen is looking good.
At present we are still carrying out tests....these are not our tests as we are still developing those. I would think these tests that we are carrying out are ncyt test ? I'm also fairly sure that we are doing these for the nhs a low cost. Our new test will be for the private sector and will have a wider profit margin, but like you said why manufacture someone else's test when you can make your own.
Pacman, yes they probably needed to go in close to the bone to get the work. Maybe will cause some cashflow problems too. We certainly are better off doing it ourselves. Maybe it's a blessing in disguise eh? Just hope cheap and cheerful doesn't blow up in NCYT face!
flipper; I have been saying all along that there is too much capacity for demand.I was proved right when I said we would be 'blown out' by the NHS., hence why we are going the private route!
They obviously went in at cost or clojsevto on the tender to guarantee they got it. They heed it to save the company.
Best we are out of it. Don't need to be dealing with stuff like that. Do it ourselves and do it better.
Markets are red today best not to read too much into any sp movements. I would say some of the euphoria this week will be shaken off though elsewhere. This was a great story of a British entrepreneur fighting to save his business which is to be applauded.. It mainly talks about the support he got from Lloyds Register in getting ISO 13485 Quality Management system certified. This was the USP that YourGene was boasting about. Aside from this touchpoint you have to look at throughput of the respective labs and whether there is enough demand to go around. Some could say that with suggestions that testing will be required even after a vaccine is found to monitor residual infections then there's enough demand. Others would suggest that Novacyt trying to develop the reagent free test is more of an issue. Others would say that the current market capitalisation is a bit of a slap in the face when compared to others where there is no product and where the test quality is unknown. This is just another bow in YourGene's rapidly expanding product range which once again is not yielding the expected sp appreciation. The note of this test being a "manual assay" is significant as it suggests that the test process is essentially there just being automated for higher throughput. This is the cell extraction, application of reagents, DNA amplification and analysis.
Coop, not only that but, they never even had any employees either.They have recruited every tom dick and harry online and trained them online ffs!
Just looked in on NCYT and no wonder they appear to beat a loss with what's gone on. Share price looks to going in reverse too. I could be wrong but it all seems really strange and gives rise to more questions than answers.
bakky
that makes NCYT look unprofessional and not fit for purpose. Surely when you give someone a mandate to manufacture you do your home work and make sure they meet all criteria? from that article you posted they had to mortgage their personal property and get bank loans just to get compliant. Then they had to hire a bunch of people and train them?
If Ygen have severed ties with NCYT then it's for the best. We are a professional outfit here and can do much better without working with imbeciles like that.
I have to say if I was at NCYT I would have serious doubts about the employing a company where the ceo has to remortgage his home to set things up, not to mention the bank loan! It just looks very amateurish and effectively a start up outfit. Cheap is very often not the best policy. We will see!
maybe this is the reason we are doing a test inhouse; Looks like EM analytical have won the order to do the full tests. They are a very small near bankrupt company.Surprised NCYT have gone with a small non robust untried tiddler. Hope it does not backfire when/if they run out of cash. Obviously we were too expensive?
UK laboratory EM Analytical (EMA) has won a contract to manufacture millions of UK and WHO approved COVID-19 tests after securing certification to ISO 9001 (quality) and ISO 13485 (medical device) standards in just 20 days.
The contract with international diagnostics group, Novacyt, came at the right time. With serious cash flow issues after losing customers due to the pandemic, EMA needed a boost.
EMA Managing Director Daniel Royston said: “We had to win that work to save the business. We’re an interdisciplinary science lab providing equipment for universities, start-ups and SMEs R&D projects. New product development is just not happening for these organisations at the moment and we were very close to having serious financial issues if this was to go on for months on end.
“Once we were offered the contract, I took a £250K bank loan and re-mortgaged the house to pay for the additional instrumentation we needed. We repurposed the lab, making sure we could meet social distancing requirements. Using social media, I quadrupled the workforce in a week, recruiting lab technicians and diagnostics experts who had been made redundant or needed jobs and trained them online. We work to the rule ‘safety first, production second’ – everyone works in their own bay, they have full PPE and we have our team meetings in the field opposite for staff meetings!”
At the same time, Daniel contacted Lloyd’s Register (LR) to see if certification - a process which usually takes around three months – could be done within three weeks.
“LR said they could help – and they did. The medical team at LR were able to turnaround the contracts and design an initial audit plan in a very short timeframe. A lot of the audit was done remotely via Skype for Business. Sharing documents, video calls from home offices – it was certainly different, but it worked perfectly. Walk through video audits using a mobile phone meant the auditor could see evidence of our PAT testing, asset procedures and everything else they needed to complete the certification audit.
“The paper work requirements were immense. It was difficult – but nothing compared to setting up a lab in six days! Getting it over the line though is a huge credit to our team and LR. Without LR, we couldn’t have made the kits – and we couldn’t have helped save lives. It’s as simple as that.”
Maybe the fact Ygen have stated they are targeting the private sector means there is no conflict of interest between the companies? because right up till this week all the tweets and retweets of articles from YGEN have suggested all is well between NCYT and YGEN.
The RNS wording implies we are targeting high throughput laboratories as well, albeit not immediately ... "Will initially be a manual assay and development has commenced with a fully automated version aimed at high throughput laboratories to follow in the coming months"
NCYT test is an antigen test which tests whether you are in infected. The bad test re: refunds is an antibody tests which tests whether you have the antibodies.
https://www.telegraph.co.uk/news/2020/04/06/government-seeks-refund-millions-coronavirus-antibody-tests/
No idea if the NCYT test kits are what was returned as faulty.
I have however considered the fact that Ygen has went their own way with regards to creating they're own test as you would think it would be a conflict of interest having an agreement to assist with NCYT test kit manufacturing and to then start producing your own kits. You would think NYCT might have took the hump but in the same breath maybe NCYT simply weren't putting much work Ygen's way, so they setup their own test?
Maybe the fact Ygen have stated they are targeting the private sector means there is no conflict of interest between the companies? because right up till this week all the tweets and retweets of articles from YGEN have suggested all is well between NCYT and YGEN.
We need an update to clarify but neither NCYT nor YGEN have mentioned it again lol
Hi,
I've been following and investing in Yourgene for a little while. Not too happy that I've had to Average Down in order to keep my Loss percentage from driving me insane or doing anything stupid like selling out :-)
However, I'd welcome some info, clarification and thoughts as to what exactly is happening between Novacyt and Yourgene.
As I understood, Yourgene entered into an agreement to begin manufacturing/supplying 'Key components' for the Novacyt Test Kit. Although this seemed like a good deal, my understanding is that the government were purchasing millions of these tests but, after the tests were found to be inefficient, the UK government stated that the tests were being returned for a refund.
as far as I know the UK government where definitely referring to the Novacyt tests. However, the UK government then seemed to state that they were buying newer, more accurate tests from abroad?
Given that this may be true, does this not mean that Yourgene could be negatively impacted should Novacyt effectively 'dive' as a result of their 'inferior' tests?
Anyone have any idea whether Novacyt's tests are in fact the ones referred to by the government as being inaccurate?
I also noted that Novacyt subsequently entered into further agreements with at least two other companies to begin supplying them with components for their test kits.
Is it 'feesible' to assume that Yourgene had only a small percentage of the overall supply chain and that Novacyt are in fact 'weeding' Yourgene out of their supply chain?
This may seem obvious as this would explain why Yourgene have proceeded with producing their own testing kits - potentially as a contender or direct replacement to possibly inferior Novacyt kits - this would actually be a good thing.
I understand that Yourgene have a more Diverse Portfolio of products, services etc; which is why I've avoided investing in others such as Novacyt. Yourgene certainly appears to have a good 'long-term' strategy and a management capable of ensuring product reach etc.
So, is there any rock solid info on the 'relationship' between Novacyt and Yourgene regarding these tests kits and possible impact of Novacyt 'diving' due to their less accurate system as well as possible large refund to the UK government?