Premaitha Health PLC
(“Premaitha” or the “Company”)
New partnership with major European diagnostics group
Manchester, UK – 13 February 2017: Premaitha Health PLC (AIM: NIPT), developer of a leading CE-marked non-invasive prenatal screening system, announces a partnership with a major international diagnostics services group to implement the IONA® test in at least two laboratories.
Premaitha, through its distribution network, has secured a four-year Master Procurement Agreement (the “MPA”) with a major European diagnostics services group (the “Customer”) to install the IONA® test in at least two of the Customer’s laboratories. The Customer intends to provide non-invasive prenatal testing (“NIPT”) services to its international network through these laboratories, with the potential to install the IONA® test in additional laboratories in due course.
The Customer has a network of laboratories across Europe and is a leading provider of diagnostic testing, carrying out more than 100 million diagnostic tests annually. The MPA sets out terms and pricing under which the IONA® test can be offered across the Customer’s European hospital and laboratory network.
The first implementation under the MPA has already been agreed, which will see the IONA® test installed in a central France laboratory shortly. The second implementation is expected to commence in a different European country during the course of 2017.
Premaitha’s IONA® test estimates the risk of a fetus being affected with Down’s syndrome or other genetic conditions. The test is performed on a maternal blood sample, containing traces of fetal DNA, which is then analysed using next generation DNA sequencing technology. The test is highly accurate and significantly reduces the number of women who are unnecessarily subjected to risky, invasive follow up procedures to diagnose Down’s syndrome and other genetic conditions.
Dr Stephen Little, CEO of Premaitha Health, commented: “We are very pleased to have entered into this agreement with a major European diagnostics provider that has such a significant network of laboratories. The potential to further roll out across their network is exciting and the IONA® test, as a productised CE-IVD system, is very well-placed to capitalise on this opportunity.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For more information, please contact:
Premaitha Health PLC
Dr Stephen Little, Chief Executive Officer
Barry Hextall, Chief Financial Officer
Tel: +44 (0) 161 667 6865
Cairn Financial Advisers LLP (Nomad)
Liam Murray / Jo Turner
Tel: +44 (0) 20 7213 0880
finnCap (Joint Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Tony Quirke (Corporate Broking)
Tel: +44 (0) 20 7220 0500
Ben Simons / Fiona Henson / Antonia Pollock
Tel: +44 (0) 20 7830 9700
Premaitha is a molecular diagnostics company which uses the latest advances in DNA analysis technology to develop safer, faster and regulatory approved non-invasive screening tests for pregnant women.
Premaitha’s lead test – the IONA® test – was launched in February 2015 and is the leading CE marked complete system which estimates the risk of a fetus being affected with Down’s syndrome or other genetic conditions. The IONA® test is performed on a maternal blood sample – which contains traces of fetal DNA – and then analysed using next generation DNA sequencing technology from ThermoFisher Scientific.
Unlike existing prenatal screening methods, due to its high level of accuracy, the IONA® test can significantly reduce the number of women subjected to unnecessary stressful and invasive follow up diagnostic procedures which are costly, resource intensive and carry a risk of miscarriage.
Non-invasive prenatal screening is an emerging, multi-billion dollar global market and Premaitha’s complete CE Marked system enables laboratories and health care practitioners to offer an approved, non-invasive prenatal screening system in-house.
Premaitha is based in Manchester Science Park, United Kingdom and its shares trade on the AIM market of the London Stock Exchange (AIM: NIPT). For further information please visit www.premaitha.com. Follow us on twitter @PremaithaHealth.