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genedrive inks distribution deal with Sysmex's Asia-Pacific arm

The agreement provides access to another "important and very relevant" global region for genedrive, the company said
Sysmex will be responsible for marketing the CE-marked Genedrive HCV ID Kit

Diagnostics specialist genedrive PLC (LON:GDR) has extended the “commercial reach” of its relationship with Sysmex Corp, inking a distribution deal with the Japanese group’s Asia-Pacific arm.

Under the agreement, Sysmex will be responsible for sales, marketing and customer support for the CE-marked Genedrive HCV ID Kit and platform in the region.

WATCH: 2017 a year of key milestone achievements for Genedrive's diagnostic Hepatitis-C test

The UK company will retain responsibility for product development, quality management and manufacturing the handheld device for detecting Hepatitis C (HCV).

“This agreement provides access to another important and very relevant global region for genedrive encompassing countries with a high HCV burden,” said chief executive David Budd.

READ: Genedrive highlights improved turnover as it releases first full year results since reboot

The latest collaboration will follow the structure of the October 16 accord between the two businesses that covers Europe, the Middle East and Africa.

genedrive said it anticipates “some initial traction” during the 2017/2018 financial year, with a further “ramp up” in 2018/19 when regulatory milestones are met. It added it had retained the rights over the Indian market.

About the company

genedrive describes itself as a molecular diagnostics company. It is developing and commercialising a low cost, rapid, versatile, simple to use and robust “point of need” system that accurately picks up infectious diseases.

The Genedrive platform and its MTB/RIF test for tuberculosis have already launched in India. The HCV test has undergone rigorous and successful testing with researchers in Paris and Nottingham.

The shares were up 2.4% mid-afternoon.


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