Yourgene Health PLC - Manchester, England-headquartered molecular diagnostics firm - Enters licence and supply agreement with an unnamed US precision medicine company for an initial term of three years commencing April 1, 2022.
The deal allows its US partner a non-exclusive licence to company's FlexTM Analysis Software and commits Yourgene to supplying sample preparation reagents and instrumentation to support the planned launch of a new clinical reproductive health screening service across all US states by the partner.
"The three-year initial contract term enables the partner to launch a reproductive health screening test in the company's financial year 2022 to 23," company says.
Chief Executive Lyn Rees adds: "We are extremely pleased to sign this agreement with such a prestigious US company and this is a strong endorsement of our software and technology expertise.
"This collaboration aligns with our strategic goal of providing partners with the best-in-class instrumentation and medical software analysis capabilities. We look forward to enabling our partner to launch a competitive clinical offering into the US market in 2022 and we anticipate that this partnership will generate accretive multi-million dollar revenues for Yourgene in the years to follow. Our move into the US market space is gaining momentum and our newly acquired Ranger Technology is proving to be a real door opener."
Current stock price: 14.10 pence, up 4.4% on Wednesday
Year-to-date change: down 4.4%
By Paul McGowan; paulmcgowan@alliancenews.com
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