(Alliance News) - Yourgene Health PLC has signed a strategic partnership agreement to start non-invasive prenatal testing with EKF Diagnostics Holdings PLC, a Cardiff-based point-of-care business with accredited US laboratories.
The Manchester-based molecular diagnostics company and EKF will offer NIPT service in US, based on Yourgene's technology, for an initial five-year period. It follows an acceleration in adopting NIPT after new guidance from the American College of Obstetricians & Gynaecologists recommended the test for pregnant women.
EKF acquisition company ADL Health Laboratories LLC will be provided with Yourgene's proprietary reagents and next-generation sequencing software in a technology transfer agreement, in trade for its testing capabilities.
The partnership will allow rapid turnaround of tests in as little as 48 hours, compared to current lengthy lead times. Both companies hope to gain market share in the US NIPT market, which is expected to reach USD2.5 billion valuation by 2028. EKF said the NIPT venture will expand its accredited laboratory business beyond Covid.
The partnership intends to provide further testing, including in oncology and reproductive healthcare, allowing Yourgene to enter the oncology market for the first time.
Yourgene's share price rose by 2.2% to 12.01 pence each in London on Tuesday afternoon.
Yourgene Chief Executive Officer Lyn Rees commented: "We are thrilled to have entered into this collaboration with EKF and ADL Health, a well-established group in the US with a large clinical network of customers positioned to increase uptake of the tests. This partnership is testament to the strength of our technical capabilities and accelerates our US growth plans to broaden our portfolio in the region with strategic partners."
EKF's share price fell by 1.4% to 74.76 pence each in London on Tuesday afternoon.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Ekf Diagnostics (EKF)