Genedrive Share News (GDR)

(Sharecast News) - Molecular diagnostics company Genedrive announced on Thursday that the UK's National Institute for Health and Clinical Excellence (NICE) has started an evaluation of the Genedrive MT-RNR1 test, via its Diagnostics Assessment Programme (DAP).

The AIM-traded firm said DAP evaluations are designed to provide "robust recommendations" on the use of new products, presented in the form of NICE guidance, and to promote "rapid and consistent adoption" of clinically-innovative and cost-effective diagnostic technologies in the NHS.

An independent advisory committee would consider the evidence provided, make draft recommendations for public consultation, and ultimately make final recommendations for publication in NICE guidance.

The guidance produced would be used by NHS commissioners, practitioners, healthcare operational managers and purchasing and procurement organisations.

Genedrive said its assay was "the world's first" rapid point-of-care test to screen infants in an urgent care setting for a genetic variant that would cause life-long hearing loss, when carriers of the variant are given certain antibiotics.

Those that carry the variant could then be given alternative treatments following detection of the variant by the Genedrive MT-RNR1 test.

"We are grateful to NICE for their engagement and interest in our innovative technology and pleased that the Genedrive MT-RNR1 test was selected for this programme following the successful publication of the NICE Medtech innovation briefing in March," said chief executive officer David Budd.

"The NICE guidance is an important element required to drive uptake and adoption of the test in the NHS by demonstrating the cost-saving efficiencies.

"The application of Genedrive's technology shows how a rapid, affordable, point-of-care test could impact patients' treatment and quality of life."

At 1400 BST, shares in Genedrive were up 2.44% at 21p.

Reporting by Josh White at Sharecast.com.