GENI5 Dec 2025 11:55
Cavendish note released today, target price 11.5p
GENinCode* Collaboration with Thermo Fisher Scientific GENinCode has announced a collaboration with Thermo Fisher Scientific, to sell, distribute and manufacture the company’s CARDIO inCode-Score polygenic test for the prediction and prevention of coronary heart disease. We expect this partnership to support and accelerate the adoption and commercialisation of CARDIO inCode, particularly in the US and EMEA, where Thermo Fisher has a significant platform presence for testing. We believe the collaboration provides strong validation of GENinCode’s technology and the CARDIO inCodeScore test, which has seen a number of clinical studies published, highlighting the test’s ability to identify patients at greater risk of coronary heart disease based on their genetic risk. There is a growing body of evidence supporting the use of genetic data alongside traditional risk assessments to better predict and prevent heart disease, the leading cause of death globally.
Investment thesis: We believe GENinCode is making strong progress within its three target regions. The Thermo Fisher collaboration validates the opportunity for CARDIO inCode in the US, while the company develops its UK and EU strategies, including the launch of the ROCA test in the UK. With a large and global patient population to target, clinical statements recognising the importance of polygenic risk scores for heart disease and a broadly unaddressed genetic testing market for cardiovascular disease, we believe GENinCode remains well-placed in the emerging market of cardiovascular genetic risk assessment.