Genedrive PLC (LON:GDR) shares rose on Tuesday as the firm announced that it has commenced commercial sales and shipments of its Genedrive HCV ID Kit, a qualitative molecular assay for HCV and Genedrive platform into the EMEA (Europe, Middle East, and Africa) region, with an initial focus on Africa.
In addition, the AIM-listed firm revealed its first commercial sales and shipment of the HCV ID kit and platform are expected to commence in the Asia Pacific region in the coming weeks.
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In early morning trading, Genedrive shares were 2.9% higher at 36p.
Genedrive said the products have been shipped to its EMEA distributor, Sysmex Corporation, a world leader in clinical laboratory systemisation and solutions, and are now destined for use in various initial target countries.
David Budd, CEO of Genedrive, said: "Since signing our distribution agreements with Sysmex, we have continued to build momentum in the market and we are pleased to see initial commercial sales.
"An ongoing process of registering the products in target countries will naturally lead to a growing opportunity, and we are confident that as the first to market decentralised qualitative molecular HCV test, Genedrive is uniquely positioned to meet this need."
He added: With the advent of new 'curative' direct acting antiviral treatments for Hepatitis C (HCV), genedrive and Sysmex believe that there is a major opportunity to support tackling the global burden of the disease if accurate, decentralised diagnostics can be used to identify those living with HCV and give them access to therapy. These first sales mark a further important step towards that goal."
The Genedrive HCV ID Kit, a qualitative molecular assay for HCV has received CE-IVD Certification from the European Union.