I remain optimistic although cautious!12 Dec 2021 15:35
Below is a post that i made around March/April 2021. I am going to attach the subsequent results below each point retrospectively. I really hope that the POC device will be different bit if this is to be the case GDR must get better at commercialisation and sales. I can't understand why Philipjo got so much abuse for posting a similar message. Fingers crossed for the future anyways.
1/ Genedrive 96-SARS-COV-2kit
- Huge worldwide potential
- 97.6% sensitivity and 98.2% specificity, compared to poor lateral flow test performance (sometimes as high as 50% false positives)
- Agreement with BC started 28th Jan 2021.
- Regulatory approval for Thailand and Senegal
- FDA frustrating, though the pace of approvals is accelerating
RESULT - No FDA approval or sales (apart from £400,000 for original US shipment)
2/ Pathogen Detection (Bioplex): supplier to US military
- Development contract worth owner 10 million
- 500 kits over 3 years
- Partnership with MountainHorse: this will help develop a broader customer base
RESULT - Minimal sales blamed on the pandemic
3/ Antibiotic induced hearing loss test
- World first
- Worldwide neo-natal hearing loss market worth 35-50 million annually (very niche market)
- Launch summer 2021 to UK and Ireland. Worldwide potential thereafter
- 100% accuracy in testing
RESULT - Launch delayed, but signs very positive for the future. News imminent hopefully
4/ World first decentralised qualitative molecular HCV test
- Routes to market impacted by COVID
- Good medium to long-term potential
- High efficacy in a recent peer reviewed study
RESULT - on the backburner due to COVID, though has future potential
5/ Listed on the PHE chosen contractors list
- Potential for a share of the 3 billion budgeted future spend
RESULT - No sales have transpired, as yet
6/ Regulatory approval for Indian market
- High test efficacy; 100% specificity and 100% sensitivity
- Access to a market equivalent to 17.7% of the total world population
- Divoc already in place
- Other contacts also being sourced
RESULT - No sales. Test deemed to expensive for the Indian market
In Development
1/ Genedrive Saliva Test (Don't think they describe it as a Saliva test now)
- 15/20 minute rapid turnover (even better - now 7 minutes)
- Target market: schools/offices/travel etc.
- High accuracy unlike lateral flow tests
RESULT - CE Marking approved. I really hope this is the golden ticket, but we need to focus on sales and commercialisation
2/ Point of care test for tuberculosis
- On hold due to COVID, though good future potential for 2022/2023.
RESULT - As above, one for the future
Other important points
- Healthy cash to burn ratio - RESULT - Placing at 25p due to lack of sales
- High stock levels to fulfil orders
- European ministry of health opportunity. Potential for a low double digit millions of pound order to be delivered in a short period of time
RESULT - Dead in the water
Good luck all
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