Calculus Capital portfolio company 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 see Premaitha Health’s website.