previous arrow
next arrow
Slider

Premaitha Health PLC
(“Premaitha,” the “Company” or the “Group”)

Full year results to 31 March 2018 and half-year trading update

Manchester, UK – 28 September 2018: Premaitha (AIM: NIPT), a leading international molecular diagnostics group, announces its full year results for the twelve months ended 31 March 2018; and provides an update on trading in the current financial year to date.  

Financial highlights

Revenues increased by 100% to £6.15m (2017: £3.08m), including the first full year of contribution from Yourgene Bioscience (“Yourgene”), which was acquired in March 2017

○ Revenues increased by 35% on a like-for-like basis

● Gross profit increased by 250% to £3.17m (2017: £1.28m)
● Gross margin improved 10 points to 52% (2017: 42%) due to benefits of scale, geographic mix and reduced product costs
● General administrative expenses increased 27% to £8.96m (2017: £7.08m), due to the full year inclusion of Yourgene

○ Total administrative expenses £11.80m (2017: £8.89m) after litigation expenses, share-based payments and acquisition costs

● Operating loss before litigation expenses reduced by 18% to £5.91m (2017 loss: £7.22m)

○ Operating loss after litigation expenses increased to £8.60m (2017: £7.60m)
○ Litigation settled post year end as announced on 19 September 2018

● Cash of £0.28m at 31 March 2018 (31 March 2017: £1.30m)

○ Additional £3.0m equity raised in May 2018
○ £2.0m loan funding secured from Thermo Fisher in February 2018
○ Further £2.5m raise announced today

Operational highlights

● IONA® test volumes increased by 108% to 50,000 (2017: 24,000)
● Successfully expanded footprint, with strong contract momentum, including in new territories in Asia, the Middle East and Africa
● Launch of Sage™ by Yourgene, a cost-effective, flexible non-invasive prenatal testing (“NIPT”) solution incorporating additional prenatal screening analysis tools
● Post period-end:

○ Signed agreement with clinical laboratory group in India to provide a  bespoke, high quality and scalable NIPT solution to the Indian market
○ Appointed Mr Lyn Rees as Chief Executive Officer of the Group
○ Premaitha announced a legal settlement and licence agreement (the “Agreements”) with Illumina, resolving the current NIPT patent infringement litigation
○ Appointment of Hayden Jeffreys to a senior commercial role within the Group

Trading update

Six month revenues to 30 September 2018 expected to be up approximately 40% to £3.8m (H1 2017: £2.6m)
● Test volumes for the first half are expected to be in excess of 34,000 (H1 2017: 22,000), demonstrating significant momentum
● Continue to expand geographic footprint, securing agreements in Kenya and India in the first six months
● Settlement agreements signed with Illumina removes the litigation overhang from the business and opens up a significantly larger addressable market for a multi-partner business model

Adam Reynolds, Non-executive Chairman of Premaitha Health, commented:

“I am delighted with the strategic and commercial progress that we have achieved in the period, having doubled revenues, increased gross profit by 250%, and continued our significant geographic expansion.

“Previously, the litigation has detracted from this progress, but the partnership agreement secured post period-end with Illumina, means that we are now free to operate globally in the NIPT market, and can fully focus on growing the business. We now have the optimal team in place and are extremely well-positioned to execute on our growth strategy in order to capitalise on the opportunity that exists for Premaitha both in the rapidly expanding market for NIPT, and beyond.”

A copy of the 2018 Annual Report and Accounts has been uploaded to the Company's website at https://www.premaitha.com/.

For shareholders who have opted to received printed copies of the Annual report and Accounts, these are being posted today.  

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For more information, please contact:    

Premaitha Health PLC
Lyn Rees, Chief Executive Officer
Barry Hextall, Chief Financial Officer
Joanne Cross, Head of Marketing
This email address is being protected from spambots. You need JavaScript enabled to view it. 
Tel: +44 (0)161 667 1053

Cairn Financial Advisers LLP (NOMAD)
Liam Murray / James Caithie
Tel: +44 (0)20 7213 0880

finnCap (Broker)
Geoff Nash / Matthew Radley (Corporate Finance)
Tim Redfern (Corporate Broking)
Tel: +44 (0)20 7220 0500

Vigo Communications
Ben Simons / Fiona Henson / Antonia Pollock
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +44 (0)20 7390 0234

About Premaitha

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 (NIPT) 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.
 
Premaitha's first product, the IONA® test was launched in 2015 as the first CE-IVD NIPT test in Europe. It enables laboratories and healthcare practitioners to offer a complete CE-marked NIPT system in-house. The IONA® test is performed on a maternal blood sample - which contains traces of fetal DNA - and estimates the risk of a fetus being affected with Down's syndrome or other genetic conditions.
 
Unlike existing prenatal screening methods, due to its high level of accuracy, the IONA® test can significantly reduce the number of women subjected to unnecessary invasive follow up diagnostic procedures, such as amniocentesis, which are costly, resource intensive and carry a risk of miscarriage.
 
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.
 
Premaitha is headquartered in Manchester, England, with Yourgene offices in Taipei and Singapore. Its shares trade on the AIM market of the London Stock Exchange (AIM: NIPT). For further information, please visit www.premaitha.com. Follow us on twitter @PremaithaHealth.

  • 16 August 2019 - Directorate Change Appointment of business development sector specialist as Non-executive Director +

    Yourgene Health plc

    (“Yourgene” or the “Company”)

    Directorate Change

    Appointment of business development sector specialist as Non-executive Director 

    Manchester, UK – 16 August 2019: Yourgene (AIM: YGEN), a leading international molecular diagnostics group, announces the appointment of Jonathan Seaton to the Board of Directors as a Non-executive Director, with immediate effect .

    Jonathan has extensive experience working for leading global life sciences and diagnostic companies having worked on more than 40 M&A transactions as well as strategic

    Read More
  • 29 July 2019 - Appointment of Director +

    Yourgene Health plc

    (“ Yourgene ”, the “ Company ” or the “ Group ”)

    Appointment of Director

    Manchester, UK – 29 July 2019: Yourgene Health plc (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces the appointment of Dr John Brown CBE to the Board of Directors as a Non-executive Director with immediate effect.   Dr Brown will act as the Senior Independent Director on the Board.

    Dr Brown

    Read More
  • 10 July 2019 - Results for the Year Ended 31 March 2019, 
Business Update and Director Change +

    Yourgene Health plc

    (“ Yourgene ” or the “ Company ” or the “ Group ”)

    Results for the Year Ended 31 March 2019,
    Business Update and Director Change

      Manchester, UK – 10 July 2019: Yourgene Health plc (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces its results for the year ended 31 March 2019, and provides a business update.

    Full year results summary :

    • Comprehensive profit of

    Read More
  • 24 June 2019 - Yourgene participates in key global conferences +

    Yourgene Health plc
    (“Yourgene Health” or the "Company")

    Yourgene participates in key global conferences

    Manchester, UK - 24 June 2019: Yourgene Health (AIM : YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces its participation at key conferences to raise the profile of its reproductive health products and services.

    European Society Human Genetics

    Yourgene recently attended the European Human Genetics Conference, organised by the European Society of Human Genetics. The event – held

    Read More
  • 25 April 2019 - Completion of Acquisition +

    THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS RESTRICTED AND IS NOT FOR PUBLIC RELEASE, PUBLICATION, OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS DOCUMENT.

    Yourgene Health plc
    (“Yourgene” or the “Company”)

    Read More
  • 17 April 2019 - Proposed acquisition of Delta Diagnostics (UK) Limited +

    Yourgene Health plc
    (“Yourgene” or the “Company”)

    Proposed acquisition of Delta Diagnostics (UK) Limited ("Elucigene")
    and
    Proposed placing of a minimum of 92,682,928new Ordinary Shares
    and
    Proposed subscription for 4,878,048new Ordinary Shares

    Highlights

    ● Proposed acquisition of Elucigene, a leading molecular diagnostics manufacturer and developer, complementary to Yourgene’s current and planned product offering

    ●  Acquisition consideration of £9.2 million (comprising £6.3 million cash and £2.9 million equity), includes £0.4 million of net cash, representing an enterprise

    Read More
  • 8 April 2019 - Full-year Trading Update +

    Yourgene Health plc

    (“Yourgene”, the “Company” or the “Group”)

    Full-year Trading Update

    Manchester, UK 8 April 2019 : Yourgene Health (AIM : YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces a trading update for the year ended 31 March 2019.

    Trading Highlights

    ●  Unaudited revenues were ahead of market expectations, increasing by 45% to over £8.9m (2018: £6.1m), with growth in all active regions
    ●  Test volumes increased by 67% to

    Read More
  • 25 March 2019 - Yourgene raises IONA® test awareness in Egypt with British Ambassador (2) +

    Yourgene Health plc

    (“Yourgene” or the “Company”)

    Yourgene raises IONA® test awareness in Egypt with British Ambassador

    Manchester, UK 25 March 2019 : Yourgene Health ( AIM : YGEN ) , the international molecular diagnostics group which commercialises genetic products and services, has held an event in Egypt to raise awareness of the IONA® test, a non-invasive prenatal DNA test for Down’s syndrome, amongst the clinical community.

    The event was attended by His Excellency Sir Geoffrey Adams, the British

    Read More
  • 18 February 2019 - Yourgene Health Announces Capital and Commercial Restructuring with Major Shareholder +

    Yourgene Health plc

    (“Yourgene” or the “Company”)

    Yourgene Health Announces Capital and Commercial Restructuring

    with Major Shareholder

    Manchester, UK – 18 February 2019: Yourgene Health (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces a restructuring of its financial and commercial relationship with Life Technologies Limited (“Life Technologies”).

    Lyn Rees, CEO of Yourgene Health, commented:

    “I am delighted with the restructuring of our relationship with Life Technologies, which places Yourgene

    Read More
  • 8 January 2019 - High throughput NIPT solution for clinical laboratories +

    Yourgene Health plc
    (“Yourgene”, the “Company”)
     
    Yourgene launches Sage™ 32 plex
     
    High throughput NIPT solution for clinical laboratories
     
    Manchester, UK – 8 January 2019: Yourgene Health (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, is pleased to announce the launch of the Sage™ 32 plex test, a new high throughput non-invasive prenatal testing (“NIPT”) and analysis solution for clinical laboratories. 
     
    Sage™ 32 plex uses the latest
    Read More
  • 3 December 2018 - Half-year Results +

    yourgene health logo RGB

    Yourgene Health plc
    (“Yourgene”, the “Company” or the “Group”)

    Half-year Results

    Manchester, UK – 3 December 2018: Yourgene Health plc (AIM: YGEN), the international molecular diagnostics group which commercialises genetic products and services, announces its unaudited half-year results for the six months ended 30 September 2018.

    Financial highlights

    •    Revenues increased by 45% to £3.9m (H1 2017-18: £2.7m)
    •    Gross profit up 49% to £2.0m (H1 2017-18: £1.3m)
    •    General administrative expenses down 4% to

    Read More
  • 7 November 2018 - Change of Name to Yourgene Health plc & Change of Website Address +

    Premaitha Health plc
    (“Premaitha” or the “Group”)

    Change of Name to Yourgene Health plc
    &
    Change of Website Address

    Manchester, UK – 7 November 2018: Premaitha Health plc, the international molecular diagnostics group which commercialises genetic products and services that positively impact human health, is pleased to confirm the renaming of the Group as Yourgene Health plc (“Yourgene Health”).

    Further to the special resolution approved at the Group’s Annual General Meeting on 25 October 2018,

    Read More
  • 12 October 2018 - Trading Update & Notice of Results +

    Premaitha Health plc
    (“Premaitha” or the “Group”)

    Trading Update & Notice of Results

    Manchester, UK – 12 October 2018: Premaitha Health plc (AIM: NIPT), a leading international molecular diagnostics group, is pleased to provide an update on trading for the six-month period ended 30 September 2018 (“H1”).

    H1 revenues were approximately £3.9 million, an increase of 45 per cent over the corresponding period last year. The Company has made a strong start to the second

    Read More
  • 04 October 2018 - $1 million collaboration agreement +

    Premaitha Health PLC
    (“Premaitha,” the “Company” or the “Group”)

    $1 million collaboration agreement
    Partnership to provide genetic testing based on next generation sequencing for oncology

    Manchester, UK – 4 October 2018: Premaitha (AIM: NIPT), a leading international molecular diagnostics group, announces a new partnership agreement between the Group’s Yourgene Bioscience division (“Yourgene”) and a leading clinical research organisation in Taiwan (the “Partner”), to deliver next generation sequencing (“NGS”) testing in oncology.

    Under the terms of

    Read More
  • 28 September 2018 - Proposed fundraise to raise approximately £2.5 million +

    THIS ANNOUNCEMENT, INCLUDING THE APPENDIX AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

    Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Pregnant lady sitting at table with Laptop

Investor Relations
Ben Simons / Fiona Henson / Antonia Pollock
Vigo Communications
Sackville House
40 Piccadilly
London W1J 0DR
yourgene@vigocomms.com
T : +44 (0) 20 7390 0230

Two business people looking at computer screen