Member Info for JimiHendrix

Great news…

“Commissioners are watching the final pilot read-out (due this summer). If the cost-saving and outcome data match early signals (20 % of stroke/TIA patients need an immediate drug change), NHS England is expected to move the test onto a nationally funded pathway—either via the Genomic Medicine Service Directory or a MedTech Funding Mandate. That would remove the last local-budget hurdle.”

Happy providing revenue is growing at a decent rate, which it is and cash burn is expected to reduce as more of the pipeline is converted.

Pharma companies frequently report losses for years before product commercialisation generates recurring revenue.

I’d be happy yes because losses are expected, well-managed, and accompanied by clear revenue growth and a path to profitability.

That would be a 200% increase in revenue, pretty fantastic actually.

I don’t think HEMO have had any sales revenue where as Genedrive are looking at probably at least £1m this year… hopefully more as a result of the NHS Pilot outcome. Last time I looks HEMO is still in the research stage, Genedrive very much in commercialisation.

The poster is a project manager at the NHS – another positive sign.

The results of the pilot (due any day) might very well open the doors so some serious income here. It won’t take much to multibag from the current price, there’s a lot happening on multiple fronts.

Should receive CEIVD next week if the latest schedule is still on track.

It aligns well with these comments from the company a couple of months ago...

- Ahead of CE-IVD certification we have invested significant resources in defining the market access and reimbursement routes in target European & Middle East countries, onboarding of qualified distributors and are progressing through early stages of customer adoption sites, inclusive of conversion of distributors and users considering using the comparator PoC test to ours.

- Additional distributor sites - Distributors contracted in key international geographies, with site installations in Italy and Saudi Arabia and additional (distributor) sites expected near-term.

- Growing base of initial installations for site verifications leading to expected routine clinical use.

- We intend to be mindful of balancing our desire to rightly keep our shareholders up to date with operational progress against seeking to maintain a competitive edge over any emerging competition.

I don't think there has ever been a job role like this, as far as I can remember — not one that leans heavily towards global training and support. It sounds like they've had international sales or are in the deal closing stages. Based on RNSs and activity my guess would be Europe and Middle East.

This isn’t a sales job, the role is focused more on training and supporting people to use the devices internationally.

The comment under the original post sounds as though his partner has written in, it’s in the 3rd person. Has he had a stroke? I’m sorry to hear if so and wish him all the best.

Https://www.linkedin.com/jobs/view/4234748169

Make a global impact supporting cutting-edge diagnostic technology! We're looking for an Applications Specialist to join our growing team – travel, train, and transform healthcare delivery.

Applications Specialist - Global

Field-based with international travel

Genedrive is a pioneering molecular diagnostics company committed to developing and delivering rapid, point-of-care genetic testing solutions that save lives and improve patient outcomes. With a strong focus on innovation and accessibility, we specialise in providing advanced tools for identifying genetic variants, empowering healthcare professionals across the globe.

The Role

As a Global Applications Specialist, you'll play a vital role in ensuring our diagnostic systems meet the diverse needs of our global customers. You'll be the technical expert, supporting installation, training, troubleshooting, and optimisation of our Genedrive System.

Key Responsibilities

Support Genedrive System installations, annual maintenance, and user training

Troubleshoot application-related issues for Genedrive, MT-RNR1, and CYP2C19

Partner with Business Development teams during sales and technical meetings

Contribute to the development of manuals, IFUs, and marketing materials

Deliver operational training to lab technicians and POCT coordinators

Provide ongoing customer support and monitor system performance

Prepare detailed field reports and contribute to CRM records

Support international demo logistics, evaluations, and installations

Participate in system validations for clinical implementation

Assist in strategic marketing and competitive market mapping

Comply with ISO, GDPR, and company policies and procedures

They have cash until mid October.

Though assuming they're receiving repeat orders/income for existing customers and baring in mind they've said they will reduce cash burn this year if they convert their sales pipeline, then I believe they should easily be able to stretch cash to the end of the year.

"pipeline of opportunities that, if converted, would see a significant step up in revenues during calendar year 2025 and a reduction in the level of cash burn."

In which time I'd expect them to receive enough income from the CYP2C19 test rollout to extend it way beyond that. The UK market is £8.5m in total and it sounds very much like they will receive a large proportion of the market.

There is also income from Scotland to come and of course the 5 new NICUs.

To summarise the significance, here's what GPT thinks...

"The NHS Supply Chain's Dynamic Purchasing System (DPS) for Medical Technology Innovation explicitly includes the Genedrive® CYP2C19 ID Kit . This inclusion signifies that NHS trusts across the UK can procure this point-of-care (POC) genetic test through a streamlined procurement process designed to facilitate the adoption of innovative medical technologies.

The Genedrive® CYP2C19 ID Kit is a molecular diagnostic tool that rapidly identifies key genetic variants of the CYP2C19 gene from a non-invasive cheek swab. This information helps clinicians determine if clopidogrel is a suitable antiplatelet therapy for individual patients, particularly those who have experienced an ischaemic stroke (IS) or transient ischaemic attack (TIA) .

The DPS listing highlights several areas where the Genedrive® test can be implemented, including:

• Advanced Diagnostics

• Acute and Emergency Care

• Cardiology and Cardiac Surgery

• Genetics

• Medical Microbiology and Virology

• Outpatient Clinics

The adoption of the Genedrive® CYP2C19 ID Kit aligns with NHS priorities such as improving urgent and emergency care, addressing health inequalities, and enhancing patient outcomes. The test's rapid turnaround time (approximately 70 minutes) and ease of use at the point of care make it a valuable tool for timely decision-making in clinical settings .

Furthermore, the National Institute for Health and Care Excellence (NICE) has recommended the Genedrive® CYP2C19 ID Kit as the preferred POC test for guiding clopidogrel therapy in patients with IS or TIA. This endorsement, combined with its inclusion in the NHS Supply Chain's DPS, suggests a strategic move towards broader adoption of POC genetic testing over traditional laboratory methods in specific clinical scenarios .

In summary, the explicit mention of the Genedrive® CYP2C19 ID Kit in the NHS Supply Chain's DPS indicates a concerted effort to facilitate its adoption across NHS trusts, reflecting a broader trend towards integrating rapid POC genetic testing into routine clinical practice for personalized medicine."

Interesting! I think this supply chain information is new, I've not seen it before...

Most of it is about the Genedrive tests...

"Our Dynamic Purchasing System (DPS) is an innovative procurement process we have developed to streamline and accelerate access to cutting-edge medical technologies..."

https://www.supplychain.nhs.uk/programmes/dynamic-purchasing-system-dps-for-medical-technology-innovation/

Thanks Junior :)

Regarding funding there is a significant shift underway in how NHS trusts may fund point-of-care (POC) genetic tests like the Genedrive CYP2C19-ID Kit. Traditionally, POC tests have been funded locally by individual trusts. However, with the introduction of NICE Diagnostics Guidance 59 (DG59) recommending CYP2C19 genotyping for patients who have had an ischaemic stroke or transient ischaemic attack (TIA), a move towards national commissioning is being considered.

Currently, the NHS Genomic Medicine Service does not commission point-of-care tests, and the CYP2C19 test for clopidogrel in stroke is not yet approved for routine commissioning. This means that, at present, the costs for such tests fall to individual trusts. 

However, the NHS England and NICE genomic testing pathway sets out a joint approach to identify, prioritize, and assess new genomic technologies before they are considered for commissioning by the NHS in England. Once a decision has been made to commission testing nationally, it will be added to the National Genomic Test Directory and delivered by the NHS Genomic Medicine Service, which is commissioned nationally by NHS England. 

This shift towards national commissioning would alleviate the financial burden on individual trusts and promote equitable access to pharmacogenomic testing across the NHS. It represents a significant change from the current model, where point-of-care tests are funded locally, and indicates a move towards a more centralized and standardized approach to implementing such tests within the NHS.

According to the company…

“pipeline of opportunities that, if converted, would see a significant step up in revenues during calendar year 2025 and a reduction in the level of cash burn.”

There’s a fair chance cash burn has reduced now, or is about to.

The MMs, primarily Peel, are keeping the price in a stable range at the moment but be assured they’ll let it go when there’s significant news. If they were to let it shoot up now the volume would quickly fade and their book will be messed up. They can create fear by dropping it quickly on small volume scaring people into panic selling, or trying to trigger stop losses etc.

Mark my words it will fly at some point very soon. Bit more patience needed, for the reward :)

It’s larger than that… £100m for MTRNR1 and £220m for CYP2C19. So about £320m total market.