07:00 Tue 27 Feb 2018
Genedrive PLC - genedrive Receives Funding for TB Test Development
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The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the
genedrive plc ("genedrive" or the "Company")
genedrive Receives Significant Funding for
genedrive plc, the near patient molecular diagnostics company, today announces that it has been awarded
Sample preparation for the Genedrive® mTB test is done by the user prior to placing the sample into the genedrive cartridge for testing. This funding will support the development of a more streamlined workflow which concentrates the patient sample prior to testing, with the goal of increasing sensitivity of the assay and reducing manufacturing costs. The programme is anticipated to run for a one year period, after which the sample preparation solution will require formal performance and clinical validation.
The Genedrive® mTB/RIF test is designed as a decentralised, point-of-need test to diagnose the presence of Mycobacterium tuberculosis in patient sputum samples. It will provide clinicians with important patient information on drug susceptibility prior to initiating treatment. The test is performed using a disposable proprietary assay cartridge on the Company's portable molecular diagnostics platform, Genedrive®.
The person responsible for the release of this announcement on behalf of the Company is
- Ends -
For further details please contact:
genedrive plc
Matthew Fowler: CFO
James Steel +44 (0)207 418 8900
Oliver Jackson
Chris Gardner +44 (0)203 709 5700
Matthew Neal
Laura Thornton
Notes to Editors
About genedrive plc
genedrive plc is a molecular diagnostics company developing and commercialising a low cost, rapid, versatile, simple to use and robust point of need molecular diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. The Genedrive® HCV test has received CE-IVD Certification and has been launched in Africa and Asia Pacific. genedrive has distribution agreements with subsidiaries of
Further details can be found at: www.genedriveplc.com and www.genedrive.com
About Innovate UK
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For further information visit www.innovateuk.gov.uk
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