EpiStem, the pre-clinical drugs test firm, has reported that full year trading has been broadly in-line with market forecasts.
The firm also said it has reached agreement with US firm Becton Dickinson for the supply and distribution of its Mycobacterium tuberculosis (TB) test on a global basis using its Genedrive molecular point-of-care platform.
The TB supply and distribution agreement includes an upfront payment of $1.0m with further milestone payments of up to $3.0m, alongside escalating supply volumes over the next five years.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Genedrive diagnostic device, described last October by EpiStem's Chief Executive Officer Matthew Walls in an interview with Sharecast as a gizmo "bigger than an iPod but smaller than an iPad", provides a quick, low cost, and simple-to-use device, which could prove a real boon to medical practitioners in parts of the world where a trip to the local doctor is not really a viable option.
The Genedrive platform and TB test have recently received registration, and regulatory submissions are now in preparation for the Indian market.
The share price fell 0.61% yo 407.50p by 09:27.
NR
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
