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Verici Dx provides progress and strategy update

16:25, 12th January 2022

For pre-revenue businesses, it is sometimes easy for investors to lose sight at how much activity is going on under the surface.

In this context, Verici Dx (VRCI FOLLOW) – a ground-breaking immuno-diagnostics specialist for organ transplants – released an update today. Detailing the key work that has been completed over the past 14 months since IPO’ing in Nov’20 - alongside how it sees the future.

So what does 2022 have in store?

Well hot on the heels of signing a strategic partnership with Illumina in order to enhance the data mining & AI capability of its proprietary knowledge bank.

VRCI said that a full data read-out wrt the validation study of its two lead products would be available by 31st March.

Additionally, the firm is progressing the regulatory/reimbursement pathways needed for Clarava's & Tuteva's commercial launch. Whilst similarly advancing the validation of its 3rd & complementary kidney transplant test, Protega. A liquid biopsy that aims to predict the risk of fibrosis & long-term graft failure.

Thus if successful, creating a full suite of clinically proven & best-in-class diagnostics.

However that's only half the story.

As an indication of the quality & depth of VRCI’s medical science. There’s even scope to sell this unique information to outside 3rd parties for research (eg auto-immune) & therapeutic development (eg clinical trial stratification) purposes, &/or monitoring patient studies post approval.

Elsewhere, Verici Dx continues to seek other licensing-in deals for complementary new technologies – such as within histopathology imagery & the analysis of whole transcriptome & other data.

Wrt the numbers, costs continue to be tightly controlled, with cash closing Dec’21 at $10.3m (Est $9.6m). In turn providing sufficient funding for another 12 months at least.

Here house broker Singer Capital Markets reckon the stock is worth between 59p-88p/share.

CEO Sara Barrington adding “2022 is set up to be another exciting year – [where we] will have moved from being a R&D organisation to one with commercial products with strong differentiation."

"Our ambition is to create a compelling platform for clinicians to use. Addressing a patient's pre- & post-transplant journey and to bring further understanding & innovation to healthcare challenges in transplant & other immune-mediated areas."

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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