30 Dec 2014 07:00
PRESS RELEASE
30th December 2014
Horizon Discovery Group Signs Agreement with leading molecular diagnostics company for $810,000
Horizon Discovery's Diagnostics business unit to provide custom molecular reference standards for on-going assay validation programs
Cambridge, UK, 30th December 2014: Horizon Discovery Group plc (LSE:HZD) (Horizon), a leading provider of research tools to support translational genomics and the development of personalized medicines, today announced that its Diagnostics Business Unit (Horizon Diagnostics) has entered into an agreement to provide molecular reference standards to a leading molecular diagnostics company.
Under the terms of the agreement, Horizon will be paid USD 810,000 (approximately GBP 520,000) to provide reference standards in the form of custom genomic DNA (gDNA) reagents to support assay validation efforts. The revenue, to be recognised over approximately six months of FY2014 and FY2015, represents the largest single diagnostic reagent order received by the division since its inception.
Dr. Paul Morrill, Senior Vice President, Reagent Products of Horizon Discovery Group plc, commented: "This significant deal demonstrates the value our molecular reference standards are having in assay development and in insuring that those assays are reliable and robust. That Horizon was chosen by a leading diagnostics company to provide support for their internal projects further demonstrates our leadership in this field."
ENDS
Notes to Editors
For further information from Horizon Discovery Group Plc, please contact:
Consilium Strategic Communications (Financial Media and Investor Relations)
Amber Bielecka / Mary-Jane Elliott / Jessica Hodgson / Matthew Neal
Tel: +44 (0) 20 3709 5701
Email: horizon@consilium-comms.com
Zyme Communications (Trade and Regional Media)
Katie Odgaard
Tel: +44 (0)7787 502 947
Email: katie.odgaard@zymecommunications.com
Panmure Gordon (UK) Limited (NOMAD)
Corporate Finance: Freddy Crossley / Duncan Monteith / Fred Walsh
Broking: Tom Salvesen
Tel: +44 20 7886 2500
About Horizon Discovery Group plc www.horizondiscovery.com/
Horizon is a revenue-generating life science company supplying research tools to organizations engaged in genomics research and the development of personalized medicines. Horizon has a diverse and international customer base approaching 1,000 organizations across nearly 50 countries, including major pharmaceutical, biotechnology and diagnostic companies as well as leading academic research centers. The Company supplies its products and services into multiple markets, estimated to total in excess of £29 billion by 2015.
Horizon's core capabilities are built around its proprietary translational genomics platform, GENESIS™, a high-precision and flexible suite of gene editing tools able to alter almost any endogenous gene sequence of human or mammalian cell-lines. Horizon offers almost 2,200 products, almost all of which are based on the application of GENESIS™ to generate cell lines that accurately model the disease-causing mutations found in genetically based diseases. These 'patients-in-a-test-tube' are being used by customers to identify the effect of individual or compound genetic mutations on drug activity, patient responsiveness, and resistance, which may lead to the successful prediction of which patient sub-groups will respond to currently available and future drug treatments.
In addition, Horizon provides GENASSIST™ CRISPR and rAAV gene editing tools, custom cell line generation services for research and bioproduction applications, quantitative molecular reference standards, in vivo disease models, contract research and custom screening services, custom shRNA development services and off-the-shelf validated shRNA (through Horizon's partner Sirion), and haploid cell lines (through Horizon's partner Haplogen). These latter partnerships provide Horizon with almost 11,000 further products for our customers.
Horizon is headquartered in Cambridge, UK, and is listed on the London Stock Exchange's AIM market under the ticker "HZD", for further information please visit: www.horizondiscovery.com.