(Sharecast News) - Molecular diagnostics technology company Genedrive announced on Monday that the UK's National Institute for Health and Clinical Excellence (NICE) has transferred the evaluation of its 'MT-RNR1' test to a new 'early value assessment programme'.
The AIM-traded firm said the programme is a new review process, created to drive innovation into the hands of healthcare professionals by actively drawing in digital products, medical devices and diagnostics that address national unmet needs.
It said the programme would allow the NICE diagnostics advisory committee to consider the technology "much faster", resulting in a published report in a six month timeframe instead of the initial 63 weeks - approximately 14 months - via the diagnostics assessment programme.
A provisional schedule was published by NICE, indicating the consultation process would occur in February.
Genedrive described the MT-RNR1 assay as "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 were given certain antibiotics.
Those that carry the variant could then be given alternative treatments following detection of the variant by the Genedrive test.
"We are grateful to NICE for their engagement and interest in our innovative technology and pleased that the Genedrive MT-RNR1 test has been fast tracked via their new EVA programme, which may allow clinicians and patients to benefit from the test sooner," said chief executive officer David Budd.
"This is a testament to our technology and our ability to address this unmet need."
At 1309 BST, shares in Genedrive were up 2.13% at 12p.
Reporting by Josh White at Sharecast.com.
Genedrive (GDR)