Member Info for JimiHendrix

“As outlined in the Scottish Government announcement, approximately £800,000 will fund testing newborn babies with genedrive's MT-RNR-ID kit, in a phased national roll out over 18 months with first clinical testing beginning in October. Once fully implemented it is expected that over 3,000 babies per year will receive the MT-RNR1-ID test throughout Scotland. A total of £1.1 million will support interventional CYP2C19 testing in recent stroke patients and whilst primarily focused on laboratory based testing with substantially slower turnaround times, Genedrive's CYP2C19-ID kit will be included for assessment against laboratory testing pathways in Transient Ischaemic Attack ("TIA") clinics.”

Complete nonsense lol. The hospitals won’t need to employ extra staff or pay nurses to use the devices.

For the RNR1 test the UK market is £8.5m per year so you can work out that 14 neonatal units in Scotland are going to bring in about £42500 each. On top of that are the device costs and possibly income from training and installation.

There will also be income from the stroke marker test from Scotland. Combined it could easily be £1m.

Reading between the lines here…

“ …and we welcome other UK nations adopting a similar integrated national approach to such avoid introduction of regional healthcare inequalities.”

Adopting a similar approach… sounds like full rollout to at least Wales and N Ireland will be announced shortly too. Five new NICUs across all nations are still to be announced so I’m expecting those to be announced as part of the full rollout. It’ll be embarrassing if England doesn’t rollout in full at the same time.

Something tells me April is going to be a positively memorable month!

The cash burn is expected to be lower as they convert more of their pipeline. So far this is going very well indeed, I have no idea why the share price isn’t responding but it’s quite possible a support base is being built because we all know what will happen when the rest of the UK follow suit and rollout both tests… on the morning of that announcement it’ll probably open up 50-100% up and then keep going up (that’s not an exaggeration).

Guy, this is just the tip of the iceberg with all focus on April for the stroke pilot results being published. We also know that the evidence generation can submit evidence early if they think it’s enough. Plus special commissioning on track for April.

On top of Scottish funds we were funded until mid August so I’m feeling fairly confident there will be no more placings now, or at least no major ones. If there is a placing it’ll be when they absolutely need it (as they’ve done in previous years) like weeks before.

(Alliance News) - Genedrive PLC on Monday said the Scottish government will invest in two pharmacogenetic testing programmes using its kits.

The Manchester-based point of care pharmacogenetic testing company said Scotland's national scale testing programmes will use the MT-RNR1-ID and CYP2C19-ID kits in NHS Scotland.

The Scottish government will spend GBP800,000 on testing newborn babies with the MT-RNR-ID kit in a phased national rollout over 18 months, beginning in October.

It is expected that more than 3,000 babies per year will receive the test in Scotland once fully implemented, Genedrive said.

A total of GBP1.1 million will support CYP2C19 testing in recent stroke patients, including Genedrive's CYP2C19-ID kit.

They have plenty of cash as you know! Lol.

Market makers have pulled it down on a few pretty small sells. Possibly they are doing it to firmly establish a massive support level around 1.8-2 before it inevitably relates in the coming weeks and months.

There is no doubt that things are getting g really exciting here now. The news they’ve promised is being delivered, the next news imo hopefully by April will be CE-IVD and tax credit.

April will be huge with special commissioning on track for hearing loss marker test and stroke market test pilot concluding.

The rest of the UK will be under pressure to extradite national rollouts too now imo. That will be £8.5m per year… probably cause this to multibag 10x from the current price and that’s not even taking into consideration the stroke market test!

This bit is very good news, I expect their POC will eventually replace labs for the stroke market test…

“ A total of £1.1 million will support interventional CYP2C19 testing in recent stroke patients and whilst primarily focused on laboratory based testing with substantially slower turnaround times, Genedrive's CYP2C19-ID kit will be included for assessment against laboratory testing pathways in Transient Ischaemic Attack ("TIA") clinics.”

A total of £1.1 million will support interventional CYP2C19 testing in recent stroke patients and whilst primarily focused on laboratory based testing with substantially slower turnaround times, Genedrive's CYP2C19-ID kit will be included for assessment against laboratory testing pathways in Transient Ischaemic Attack ("TIA") clinics.

The company spoke about this in December and made it quite clear that the AIM market is a good fit for them and that they have no plans to delist. It’s just derampers trying to keep the share price down so they can likely build a holder at the lowest possible price before it inevitably rockets in the coming weeks imo.

Well that pushes their cash runway to end of September :)

and…

“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 are 14 NHS Scotland territorial health boards from what I can see, so at a minimum it has to be 14 (of the 15 in total) neonatal units that are adopting it.

Hopefully an RNS soon will full details.

It’s over 18 months, which means imo the funding of £800k must surely cover enough tests to last the full time period for the hospitals that are rolled out at the beginning of the term… that’s 18 months of tests.

“This programme will begin in October and be rolled out to all Territorial Boards within 18 months.”

My expectation is we’ll receive all of that funding well in advance of October as if the rollout begins October the company will need to have everything ready and made before hand.

Most if not all of the funds will go to Genedrive for this, it’s essentially a £800k contract imo.

“A programme to provide a genetic test for newborn babies will also receive £800,000 funding to determine if they have a genetic variation which puts them at risk of permanent hearing loss if they are treated with a common emergency antibiotic.”

Each unit is approximately £42500 plus £3000 for the actual device, multiply by 15 neonatal units and it gives you £682,500. The rest is likely for other setup and training costs imo.

Also just a reminder that they have funding until mid August including the tax credit and PALOH UK income. So depending on the outcome if the stroke pilot (April) and potential special commissioning for RNR1 (on track for April) they may not actually need to raise more funds.

They mentioned running costs will be lower if their pipeline comes to fruition.

Stocksaint subtly deramping again lol. There will be set up, training, installation and maintenance fees too. There are 200 neonatal units in the UK so on average it’s £42500 per unit based on £8.5m market.

There are 15 in Scotland so approximately £637,500 per year from Scotland.

The write up says “over” 3000 babies yet anyone can research and see it’s more like 5000 that would need the test.

I would think an RNS is very likely in the next couple of days as the awaited NHS funding appears to have been signed off now at £800,000. My estimate was that we could receive about £750k based on 15 neonatal units in Scotland, so hopefully most of that will come our way as it sounds about right for full rollout.

It mentions “over 3000 babies” in that article but … “Total Neonatal Admissions: Around 5,000 babies are admitted to neonatal care annually in Scotland.”

*PROGRESS pilot rather than DEVOTE

Great finds! Yes RNR1 rollout is definitely happening. There was a PDF published last month “The Future of Pharmacogenomics” https://www.nes.scot.nhs.uk/media/4ixpfpvw/7-matthew-beaney-the-rise-of-clinical-pharmacogenomics.pdf

What it doesn’t mention is that NHS Scotland have actually proposed POC testing for clopidogrel resistance (stroke test) to speed up turnaround times which are currently 7 days using the Scottish. You can find out quite a bit of information by simply asking the right people.

So whilst the current plan in Scotland is to rollout lab testing my expectations are they will probably change their plans and switch to POC testing possibly based on the DEVOTE pilot study conclusions announced in April. It’s highly likely given the overall cost savings of point of care.