genedrive PLC (AIM:GDR) shares jumped higher on Friday morning as the point-of-care molecular diagnostics company announced its participation in a multi-partner grant award called 'DEVOTE' from Innovate UK and the UK government Innovation Accelerator program.
The grant aims to provide funding to validate and implement the new Genedrive CYP2C19 ID Kit pharmacogenetic test in a time-critical clinical setting. The DEVOTE grant, part of the Development and Validation of Technology for Time Critical Genomic Testing program, will enable the assessment of the real-world clinical performance of time-critical clinical tests in NHS settings.
Led by the University of Manchester (UoM), the program builds upon a successful partnership with Genedrive through the PALOH program, which supported the development and evaluation of the Genedrive MT-RNR1 ID Kit, recently recommended by NICE. The DEVOTE program is expected to reinforce the partnership between Genedrive, UoM, and MFT in advancing time-critical genetic test solutions.
DEVOTE will primarily focus on ischaemic stroke patients in acute care who require the prescription of Clopidogrel to prevent clot formation. Genedrive's CYP2C19 ID Kit aims to guide clinicians in identifying patients who will respond fully to Clopidogrel, as certain genetic variants reduce its efficacy. Patients with these variants can be given alternative treatments.
In a statement, David Budd, CEO of Genedrive, emphasized the significance of engaging with the NHS through DEVOTE, stating that it provides an opportunity to demonstrate the effectiveness of the company's diagnostic approach. He further highlighted the value of real-time access to the Acute Medicine Unit for ongoing product development and clinical validation.
Around 9.45am, genedrive shares were up 8.7% at 18.75p.