A company that has developed a quick and easy genetic test for cardiovascular disease (CVD) has announced plans to float on AIM.
GENinCode is hoping to raise £17mln from the IPO, which should value the business at around £42mln.
It is bringing with it a breakthrough in testing for heart disease, the world’s biggest killer with 18mln deaths a year.
Through a simple blood or saliva sample, it can analyse a patient's medical information and genetic variants of the disease to determine a genetic score that is then used for the assessment of a patient's cardiovascular risk.
Its SITAB system, software, bioinformatics and algorithmic platform and online cloud-based reporting, is used to process and record test results and genetic information, using algorithms and artificial intelligence, assess a patient's risk of CVD.
It reports results directly via a web portal to healthcare practitioners, cardiologists and physicians, in a user-friendly, digestible format.