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RNS Number : 9023O
07 October 2019
("Novacyt", the "Company" or the "Group")
New molecular respiratory panel ready for the US market
Multiplex test identifies up to 37 respiratory pathogens
Paris, France and Camberley, UK - 7 October 2019 - Novacyt (ALTERNEXT: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, today announces the succesful development of a new molecular diagnostic multiplex test for respiratory infections, which is ready for launch in North America in time for the US cold and flu season.
Novacyt's molecular business unit Primerdesign, has completed the design and development of the molecular respiratory panel based on a 384 well plate format for use by its North American business partner in their CLIA approved diagnostic testing laboratory network. Primerdesign has designed the multiplex test to identify 37 respiratory pathogens, which makes it one of the most comprehensive respiratory panels available in the market today. In addition to identifying a large number of respiratory disease pathogens, the new diagnostic product has been designed with proprietary freeze-drying technology to stabilise the product to optimise its ease of use and performance.
Primerdesign will supply this product under a five year manufacturing agreement as its partner launches the new respiratory panel in the US market through its own clinical testing laboratories to provide a Laboratory Developed Diagnostic test result for its customers. The initial order for $105,000 has been received by Primerdesign to supply its US partner.
The global respiratory disease testing market was valued in 2016 at US$5.0billion(1) and is forecast to grow at a rate of 3.3% per annum. The US market accounts for more than 30% of the global respiratory testing market.
Graham Mullis, Group CEO commented:
"This development marks a significant step forward in the Group's B2B strategy by providing our North American business partner with the opportunity to access the significant demand for the US seasonal respiratory testing market, which typically runs from September to April. It also demonstrates the increasing capability of Novacyt's R&D team as it broadens its product portfolio and builds the skills to develop more complex products. The rapid development of this new multiplex molecular diagnostic panel shows the power of our intergrated research, development and commercialisation team. We believe this will be an important tool for clinicians to better serve patient needs. This is just one of a number of different assay panels being developed by Primerdesign."
 Respiratory Disease Testing/diagnostics market, Industry Report, 2025 Grand View Research
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Graham Mullis, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
+44 (0)1223 395472
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
+44 (0)20 3470 0470
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FTI Consulting (France)
Arnaud de Cheffontaines / Astrid Villette
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About Novacyt Group
The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high quality assays and reagents worldwide. The Group directly serves oncology, microbiology, haematology and serology markets as do its global partners, which include major corporates.
For more information please refer to the website: www.novacyt.com
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(END) Dow Jones Newswires
October 07, 2019 02:00 ET (06:00 GMT)