Premaitha Health expands with two new international labs

Premaitha Health, the Manchester-based non-invasive pre-natal testing (NIPT) specialist, has opened two new laboratory hubs, one in Kenya, a new territory for the company, and the other in India.

In Kenya, the group has signed an agreement with Massive Genomics, part of the Nairobi IVF Centre in Kenya, to establish a dedicated NIPT centre.

The Nairobi IVF Centre intends to offer NIPT to each of the 5,000 women who visit the centre each year.

The laboratory will be set up directly by Premaitha, with Massive Genomics, and will be operational by September.

There is a high level of understanding and awareness of the benefits of NIPT in Kenya, but currently all NIPT samples are sent out of the country for analysis, resulting in a delay between the sample being taken and the results being received.

The Massive Genomics laboratory will be the first to offer NIPT in-country.

In addition, as the only laboratory in the region capable of processing NIPT in-house, there is potential for Massive Genomics to broaden its scope into other east African countries with which it has relations, such as Uganda, Botswana and Tanzania.

The group has also signed an agreement with a leading laboratory group in India to set up an NIPT-focused laboratory in Gujarat, a region in the north west which, once installed, is expected to act as a hub for a network of laboratories across India.

NIPT is in the early phase of development in India but, with more than 26 million births per annum, and increasing awareness of the benefits of NIPT, Premaitha expects India will be a key growth market as the company continues to grow its presence in the region.

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.

Premaitha Health chief executive Dr Stephen Little said: “I am pleased to report further progress in growing our footprint in key growth markets.

“Kenya is another international territory which we believe will, when fully established, contribute a growing number of recurring test sales.

“Massive Genomics is well placed to draw demand for NIPT from both within Kenya and the surrounding region.

“We also continue to build upon our presence in India, where we believe there are substantial opportunities underpinned by continued growth in demand for NIPT, driven by both increasing awareness and accessibility.”

AIM-listed Premaitha is an international molecular diagnostics group which uses the latest advances in DNA analysis technology to develop safer, faster and regulatory approved genetic screening tests.

The group’s current primary focus is on non-invasive prenatal tests for pregnant women – an emerging, multi-billion dollar global market – although the group intends to expand its product range into other areas of clinical genetics.

In March 2017, Premaitha acquired Yourgene Bioscience, a specialist next generation sequencing and bioinformatics company based in Taiwan, with its own NIPT screening solution that operates on the same Thermo Fisher next-generation sequencing platform as Premaitha’s IONA® test.

Yourgene brings significant benefits to the group through expanded market access in Asia – the world’s fastest growing NIPT market – as well as opportunities for cross-selling and the ability to jointly develop expanded test content both within NIPT and beyond.

From May 2018, the group will trade as Yourgene Health outside of Europe, but remaining as Yourgene Bioscience in Taiwan, reflecting the increased scope of the business in other areas of clinical genetics further to reproductive health, but will maintain the Premaitha Health brand within Europe.

The business also released a trading update today which showed that unaudited revenues in the year ended March 31, 2018, increased by 100% to £6.2m, with the majority of growth from outside of Europe, as international revenues increased to £3.8m, up from £900,000 last year.

UK revenues remained constant at £1.3m, compared with £1.2m previously.

The company also raised £2.5m through the issue of 55,527,784 new ordinary shares, to fund continued international expansion and further product development.

Manchester law firm Addleshaw Goddard advised Premaitha on the issue.