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Think we are talking about two different things long.
the link John supplied to Innovate uk funding has Genedrive listed 4762 with 188k sometime early this year.
I am not talking about the funding in RNS. today.....which I think is in addition to that funding. Not that 200k makes a right lot of difference other than we would be unable to say how much of it was going direct to GDR and how much vis Manchester uni. Johns thinking was that GDR was getting this 188k direct and the rest 1M via MU. I not so sure. we see i guess
HI Long
Read it again and at no point does it say which test the £188k is for but it is dated earlier this year. it does state another total of £470k for project total.
Am I missing something long? wouldn't be first time.
@john
think that might be money for ALHI test rather than stroke test dated 1.4.23 when stroke test wasn't at validation stage.
not very clear what ever it is.
There should be some more money from Devote for ALHI test at some point to. It was one of three of devotes aims I think.
and RND tax return normally around £1million
also Nice said they were going to aid the validation process and if I remember rightly put together a group to do that be interesting to see how that works. wont be direct cash but maybe identifying grants like from Devote in different areas.+
add £1M form devote via Manchester Uni makes things a interesting
looks like Mr Creek likes a mid day RNS
is this the start of the much touted news flow? guess we will see
maybe we get more RNS info now maybe not :(
Your right slacker Devote wont cover the whole of the monthly outgoings but it will cover a portion of it
In fact we know that a roll out of AHIL to the whole country would cover monthly out goings (though I thought they reduced those to around 300k but I may be wrong) and leave around a million spare.
but the stroke marker test is not far away and that has the potential to provide another slice of devote funding. which means less needed to cover those outgoings and that is just the North west area.
There will be similar pockets of funding from around the country for both products (we know NICE have formed a group to identify and aid GDR in funding the data collection phase) just to be clear NICE will not fund it (they don't do that).
The smaller the gap between this funding and the monthly outgoings the easier it is to bridge with sales and the longer the cash lasts.
The new CEO has sold into the NHS and has a solid sale back ground from what I can see, and surely they will have sales incentives in his contract. If I were him I would be looking at a few quick wins to steady investor nerves.
Now I am pretty sure your doing this deliberately
There is no relationship between Devote funding and Nice recommendations. They could fund research in a new product if they wished a fact they stated in their aims and objectives.
AIHL is being sold by inspiration Healthcare right now in the UK. with out a full recommendation from nice !!
@saint
Again I not sure if you get it.
Nice are not a regulatory body.
They provide recommendations, guidelines and best practice advice. The NHS must when a product is given full recommendation find funding for that product within three months. (I think this is where confusion occurs). You may still be right about volume of sales until this is achieved but there will be early adopters like the Manchester trusts and some of these will be funded by organisations like Devote. How many and how much this brings in is utterly unknown at the minute.
@saint
I know what NICE does it seams you don't !
From the first page of their website "Evidence-based recommendations developed by independent committees, including professionals and lay members, and consulted on by stakeholders"
from RNS
"UKCA marking now allows the Company to begin commercialisation in the UK, and actively engage in the DEVOTE programme (previously announced in May 2023), which will generate additional performance data in an acute care setting. This expanded dataset is required for CE marking submission, which will allow for commercialisation in the EU. Submission is expected in the first half of 2024 once genedrive's engagement with DEVOTE has completed. In the United Kingdom, the Company will be selling the product through its direct sales team, and momentum for adoption is expected to be influenced by positive final NICE recommendations for CYP2C19 testing, which are expected in December 2023."
Maybe its you who should you back to basic's?
@spanner sorry slacker
https://www.lse.co.uk/rns/GDR/ukca-marking-achieved-for-new-cyp2c19-test-0lsrcundbefo1cg.html
very very poor job mate very very poor
@Slacker I think you know this is absolute bull.
all they need to legally sell in UK is the certification is the UKCA. certification which they have.
Nice do not approve they recommend best practice.
Nice have said they need more data from GDR before they can fully recommend (which would require hospitals to find funding for it) they have therefore conditionally recommended it while that data is gathered.
I remember vaguely it somewhere stating that nice were active in aiding the gathering of that extra data.
SO they can sell the question for me is how many sites will follow Manchester hospitals and adopt the test and how many organisations like Devote decide to fund that adoption in different areas.