RE: what will happen next now ?3 Nov 2021 12:04
Strategy update highlights
Novacyt has continued to build on its strategy for delivering long-term growth, with the following organic and R&D growth opportunities identified
• Test menu expansion: Continue to leverage the Company’s strong bioinformatics and design expertise to develop tests in three areas of focus
o COVID-19 testing – expanding test menu for new variants and innovate to support testing efficiencies and results delivery
o COVID-19 Plus testing – targeting expansion into closely adjacent areas of COVID-19, and biomarker monitoring to predict COVID-19 progression and to diagnose conditions in affected patients
o Post-COVID-19 testing – addressing unmet testing needs, such as pathogens resistant to antimicrobials, sepsis, and transplantation, for central laboratory and near-patient testing
• Instrument expansion: Following the acquisition of IT-IS, Novacyt will expand the placement and use of its q16 and q32 instruments through developing test menus based on the requirements of different near-patient settings. Further expansion of protein based diagnostic technologies, including lateral flow, will also be developed, licensed, or acquired by the Company
• Geographical expansion: High priority geographies (including UK, US, Germany and other European markets) to be targeted with a focus on direct sales, marketing and distribution supported by organic investment and acquisitions
o Commercial infrastructure already established in the UK positions the Company well to support expansion in these diagnostic markets
o Expansion underway in US market, with establishment of Novacyt US Inc and appointment of a US General Manager, with up to 10 additional hires expected in H2 2021
• Novacyt remains focused on M&A to supplement these initiatives