Last checked at 26 May 2021 07:00
Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Launch of VersaLab™ Portable
Paris, France and Camberley, UK - 26 May 2021 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces the expansion of its VersaLab™ portfolio with the launch of VersaLab™ Portable to provide an additional level of support in near-patient testing environments.
VersaLab™ was launched in December 2020 to support private sector testing of infectious diseases, initially focused on COVID-19. Novacyt added to the VersaLab™ portfolio in March 2021 with the launch of VersaLab™ mobile processing laboratories.
Novacyt believes that VersaLab™ Portable is an important addition to its commercial strategy as the Company looks to expand its reach in private sector testing, especially in overseas markets. The product is a "PCR lab in a box" and as such comes with all the equipment required to provide near-patient PCR testing using Novacyt's PROmate™ workflow in non-clinical settings, such as offices and workplaces.
VersaLab™ Portable has been designed specifically with a focus on small to medium organisations, which represent a growing market opportunity for Novacyt. Other potential applications include sport events and facilities, education facilities, the leisure industry, humanitarian bases and retail.
PROmate™ is the only rapid direct-to-PCR COVID-19 assay approved by the Department of Health and Social Care's Technology Validation Group. PROmate's™ unique workflow allows Novacyt to provide rapid results to patients in under 80 minutes, saving time and minimising the risk of infection spreading.
Graham Mullis, Chief Executive Officer of Novacyt, commented:
"When we launched VersaLab™ our aim was to bring PCR technology closer to patients. The initial market response to the portfolio is encouraging and the Company looks to increase its promotion during the second half of 2021. With VersaLab™ Portable we can broaden access to affordable testing in areas that lack the infrastructure of laboratory-based testing whilst still providing optimum results from gold standard PCR reagents. We believe that VersaLab™ Portable can support organisations, including small to medium businesses, offer onsite testing as lockdowns begin to ease internationally."
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Contacts
Novacyt SA
Graham Mullis, Chief Executive Officer
James McCarthy, Chief Financial Officer
+44 (0)1276 600081
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
+44 (0)20 3470 0470
Numis Securities Limited (Joint Broker)
Freddie Barnfield / James Black
+44 (0)20 7260 1000
FTI Consulting (International)
Victoria Foster Mitchell / Alex Shaw
+44 (0)20 3727 1000
victoria.fostermitchell@fticonsulting.com / Alex.Shaw@fticonsulting.com / Novacyt.group@fticonsulting.com
FTI Consulting (France)
Arnaud de Cheffontaines
+33 (0)147 03 69 48
arnaud.decheffontaines@fticonsulting.com
About Novacyt Group
The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high-quality assays and reagents worldwide. The Group directly serves microbiology, haematology and serology markets as do its global partners, which include major corporates.
For more information, please refer to the website: www.novacyt.com