7 Feb 2017 07:00
Premaitha Health PLC
("Premaitha" or the "Company")
Southern Europe Business Update
Manchester, UK - 7 February 2017: Premaitha Health PLC (AIM: NIPT), developer of a leading CE-marked non-invasive prenatal screening system, announces a number of new customers through its distribution network in Southern Europe.
Italy
Premaitha's Italian distributor has won a public hospital tender to implement the first public non-invasive prenatal testing ("NIPT") programme in southern Italy. The hospital will act as a regional hub and is expected to be ready for processing routine samples using the IONA® test in early Q2 2017.
In addition, a second Italian laboratory has completed the installation phase and has begun processing small volumes of the IONA® test in Rome with the potential to ramp up as awareness of the availability of NIPT further permeates the Italian healthcare system.
Greece and Balkans
Premaitha's distributor for Greece has signed a contract to establish the IONA® test in a laboratory in northern Greece which will act as a hub for processing samples from around Greece and the Balkans. The customer has been channelling NIPT samples to another European service provider and therefore already has established a network of feeder clinics. The laboratory is expected to be operational with the IONA® test by the end of Q1 2017.
Turkey
Premaitha has won a new service-laboratory customer in Turkey, sending samples for processing in the Company's own laboratory in Manchester, UK. Volumes for this new territory are expected to be small initially with substantial scope for growth in this emerging NIPT market.
Premaitha's IONA® test estimates the risk of a fetus being affected with Down's syndrome or other genetic conditions. The test is performed on the mother's blood sample, containing traces of fetal DNA, which is then analysed using next generation DNA sequencing technology. The test is highly accurate and significantly reduces the number of women who are unnecessarily subjected to risky, invasive follow up procedures to diagnose Down's syndrome and other genetic conditions.
Dr Stephen Little, CEO of Premaitha Health, commented: "We are working hard to establish a network of like-minded distribution partners. The IONA® test is designed specifically to support the dissemination of genetic testing, and we are now seeing real evidence of this happening in Europe."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For more information, please contact:
Premaitha Health PLC | Tel: +44 (0) 161 667 6865 |
Dr Stephen Little, Chief Executive Officer |
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Barry Hextall, Chief Financial Officer |
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investors@premaitha.com |
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Cairn Financial Advisers LLP (Nomad) | Tel: +44 (0) 20 7213 0880 |
Liam Murray / Jo Turner |
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finnCap (Broker) | Tel: +44 (0) 20 7220 0500 |
Adrian Hargrave / Scott Mathieson (Corporate Finance) |
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Tony Quirke (Corporate Broking) |
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Vigo Communications | Tel: +44 (0) 20 7830 9700 |
Ben Simons / Fiona Henson / Antonia Pollock |
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premaitha@vigocomms.com |
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About Premaitha
Premaitha is a molecular diagnostics company which uses the latest advances in DNA analysis technology to develop safer, faster and regulatory approved non-invasive screening tests for pregnant women.
Premaitha's lead test - the IONA® test - was launched in February 2015 and is the leading CE marked complete system which estimates the risk of a fetus being affected with Down's syndrome or other genetic conditions. The IONA® test is performed on the mother's blood sample - which contains traces of fetal DNA - and then analysed using next generation DNA sequencing technology from ThermoFisher Scientific.
Unlike existing prenatal screening methods, due to its high level of accuracy, the IONA® test can significantly reduce the number of women subjected to unnecessary stressful and invasive follow up diagnostic procedures which are costly, resource intensive and carry a risk of miscarriage.
Non-invasive prenatal screening is an emerging, multi-billion dollar global market and Premaitha's complete CE Marked system enables laboratories and health care practitioners to offer an approved, non-invasive prenatal screening system in-house.
Premaitha is based in Manchester Science Park, United Kingdom and its shares trade on the AIM market of the London Stock Exchange (AIM: NIPT). For further information please visit www.premaitha.com. Follow us on twitter @PremaithaHealth.