YGEN.L Share News (YGEN)

(Sharecast News) - Molecular diagnostics company Yourgene announced on Monday that Public Health England (PHE) has confirmed that it was successful with its tenders under PHE's National Microbiology Framework for 'Lot 2', for research and development goods and services, and 'Lot 3', for manufacturing, product development and commercialisation.
The AIM-traded firm said Lot 2 is a £1.5bn framework to be satisfied over two years by multiple successful bidders, with 69 companies appointed.

Similarly, Lot 3 was also a £2.5bn framework to be satisfied over two years, but with nine suppliers appointed.

It said PHE's National Microbiology Framework appointed suppliers to framework agreements for four lots, with Yourgene now successful in of the lots, being one of three companies to do so. Yourgene said it would be able to offer its 'Clarigene' SARS-CoV-2 PCR assay and associated Manchester-based clinical laboratory testing services under the National Microbiology Framework Agreement, as well as other testing or test development services.

While the framework agreement was not exclusive to Yourgene, or a guarantee of orders, it would allow participating public health authorities across the UK to issue call-off contracts to procure goods and testing services from the company, among other providers, going forward.

"We are delighted with the successful tender award under both Lot 2 and 3 of the Microbiology Framework, alongside the previous awards. I can only reiterate that this is a testament to the quality and credibility of our accredited lab based Covid testing services," said chief executive officer Lyn Rees.

"Over the last year we have built up an infectious disease business with an impressive testing capacity and a best-in-class product, and have done so without taking our focus away from our core business.

"We are now well positioned to compete for the next wave of contracts under this framework, particularly as one of only three companies successful in all four lots."

Rees said the company believed that was the "right approach" to deliver value to shareholders as it delivered year-on-year revenue growth, and positioned itself in both the private and government testing markets over the next two years.

"As and when we secure future call-off contracts under these framework agreements we will provide further updates."

At 1035 BST, shares in Yourgene Health were up 2.69% at 14.22p.