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Horizon Discovery's CareDx partnership validates model

Horizon Discovery Group PLC (LON:HZD) says its continued collaboration with CareDx Inc validates its model.
Horizon makes cell lines, which can be used to stand in for real patient samples, and firms which are developing assays and research tools, can utilise them.
The latest agreement is to supply what it calls "cell-free DNA-based molecular reference standards" to CareDx as part of the latter’s research into transplanted organ rejection.
It's an important area as often patients own samples are not available or consistent enough for reliable usage, explains Chris Claxton, the firm's vice president for IR and corporate relations.
It provides an initial revenue stream to start with and the potential that groups like CareDX will continue to use them as a partner longer trem.
"We are looking to do many CareDxs, said Claxton. "We're looking to layer on many, many revenue streams, not just from a single organisation."
The firm is aiming to  be EBITDA (underlying earnings) positive in 2017.

Quick facts: Horizon Discovery Group PLC

Price: 186 GBX

AIM:HZD
Market: AIM
Market Cap: £294.35 m
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