Yourgene Health signs multi-year licence with US precision medicine firm
(YGEN ) said it has entered into a licence and supply agreement with a leading US precision medicine company for an initial term of three years starting in 2022.
The international molecular diagnostics group said the partnership will grant the Partner a non-exclusive licence to Yourgene’s Flex™ Analysis Software, a medical grade, configurable bioinformatics software platform that was created by the group in October 2019.
Flex™ was created to support Yourgene’s ambition to develop strategic in vitro diagnostic product development partnerships and research collaborations ‘with key industry players’ while in addition, the software is also deployed by Yourgene in order to support the company’s internal product development pipeline across reproductive health and oncology.
The company said the licence and supply agreement commits Yourgene to supplying sample preparation reagents and instrumentation in order to support the planned launch of a new clinical reproductive health screening service across all US states by the Partner.
The unnamed US partner is said to be ‘a leading precision medicine organisation with an established franchise in genetic diagnostics, who wishes to build a significant market presence in the rapidly growing US reproductive health diagnostics sector.’
Shares in Yourgene Health were trading 1.85% higher today at 13.75p following the news.
It said the Partner has chosen to collaborate with Yourgene due to its ‘unique sample preparation technology, bioinformatics expertise and flexible approach to customising its workflow.’ Specifically, this three-year initial contract term will enable the Partner to launch a reproductive health screening test during the company’s financial year 2022-23.
This screening test will connect the Partner's sample processing workflow with Yourgene’s proprietary bioinformatics Flex™ Analysis Software as well as its Ranger® Technology - the sample enrichment technology which it acquired through Coastal Genomics in August 2020.
The service launch will follow a customised workflow development and a validation and verification phase with the latter process designed to support attaining lab accreditations for the Partner's lab, thereby enabling them to offer the reproductive health screening test.
Lyn Rees, CEO of Yourgene Health said the agreement is “a strong endorsement” of the company’s software and technology expertise and aligns with its strategic goal of providing partners with the best-in-class instrumentation and medical software analysis capabilities.
Yourgene said it expects this partnership to generate accretive multi-million-dollar revenues in the years to follow. “Our move into the US market space is gaining momentum and our newly acquired Ranger® Technology is proving to be a real door opener,’ it told investors.
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