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Premaitha signs exclusive agreement with Egyptian laboratory for IONA testing
AIM-quoted molecular diagnostics researcher Premaitha Health has inked an exclusive agreement with an unnamed partner that would see its maternal blood sampling test, IONA, gain its first access to the Egyptian market.
Premaitha's new deal with the Cairo based private reference testing laboratory meant that the Manchester-based group would be able to provide its IONA test to a network of hospitals and clinics across the greater Cairo area, with its partner planning to establish additional laboratories "in other strategic locations."
Premaitha's IONA test estimates the risk of a foetus being affected by Down's syndrome or other genetic conditions. The test is performed on a maternal blood sample, containing traces of foetal DNA, which is then analysed using next-generation DNA sequencing technology.
Dr Stephen Little, chief executive of Premaitha Health, said, "We are delighted to enter another country, particularly one with both a significant population and an appetite for high-quality genetic screening. Today's announcement is further demonstration of delivering against our strategy of geographic diversification. We look forward to working closely with our new partner in Egypt, which we hope will become another significant market for Premaitha."
As of 0840 GMT, shares had receded 1.14% to 5.19p.