LONDON (Alliance News) - Molecular diagnostics company Epistem Holdings PLC on Monday said it has changed its name to Genedrive PLC with immediate effect.
The name change follows the company's recent GBP6.5 million fundraising and reflects its focus on the development and commercialisation of its disruptive molecular diagnostic device which targets market opportunities across infectious diseases and patient genotyping.
It said it continues to provide contract research services to drug development companies under the Epistem brand name.
"While the Epistem name was reflective of the heritage of the company, the change to Genedrive clearly reflects our intention to focus our resources on the global market opportunities in near patient and point of care molecular diagnostics," Chief Executive David Budd said in a statement.
"We have an opportunity to play a significant role in delivering sophisticated diagnostic testing that today millions of people cannot access. We are excited by the future of Genedrive in bringing the power of hospital-based, central laboratory diagnostics closer to the point of need and the patient setting. Our renewed focus and the recent successful fundraising put us in a strong position to deliver on our diagnostics platform's potential and expand its testing capabilities," he added.
Shares in the company were untraded on Monday, last quoted at 83.00 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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