fbpx Yourgene Health plc - Home
previous arrow
next arrow
Slider

Yourgene Health plc

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

Half-year Trading update
H1 year-on-year growth demonstrating the resilience of the Company

Manchester, UK – 26 October 2020: Yourgene (AIM: YGEN), a leading international molecular diagnostics group, announces a trading update for the half-year ended 30 September 2020 (“H1 2020”).

Revenues for the half-year ended 30 September 2020 were £8.2m (H1 2019: £7.8m), up 5% compared to the previous year, with strong European revenues offsetting the headwinds from COVID-19 on international sales. Revenues from the Company’s UK COVID-19 testing services and international Clarigene® SARS-CoV-2 diagnostic product started to build in the latter part of H1 and are showing strong growth in the early part of the second half of the financial year.

Revenues by region

Strong UK and European growth helped offset the impacts of the pandemic on some of our core international markets. European growth mainly reflects the acquisition of the Company’s French distribution business in March 2020, where test volumes were up by over 70%, plus growing sales of DPYD in Germany and an increasing contribution from Covid-related products and services.  International markets were particularly affected by the enforced COVID-19 lockdowns, which inhibited cross-border shipments and in-country non-COVID-19 testing, especially in Japan and India amongst others. Delays in launching new customer sites in key new international markets such as the USA and Japan have recently been resolved and strong momentum has been established in the early part of the second half of the financial year.  UK growth was primarily driven by COVID-19 related products and services, supported by increasing DPYD revenues and with underlying NIPT and reproductive health testing levels resilient despite the national lockdown.

Regional segments

6 months to

30 Sept 2020

£m

6 months to

30 Sept 2019

£m

 

UK

1.5

1.1

+40%

Europe

2.9

1.6

+80%

International

3.8

5.1

-25%

Total

8.2

7.8

+5%

Revenues by product

Non-invasive prenatal testing (NIPT) was affected by the diversion of laboratory testing capacity towards COVID-19 testing in many of the Company’s core markets, especially in the first quarter. The second quarter saw a return to more normal trading patterns with strong momentum entering the second half. Sales of other reproductive health products proved more resilient due to our end customers being focused in the UK and in public hospitals in Europe, which were somewhat insulated from the diversion to COVID-19 testing, for example due to the Lighthouse Labs network established in the UK using a range of facilities from outside primary healthcare.  

Molecular Genetics sales comprise a portfolio of products, services and technologies in the oncology, research and now infectious disease market segments. Greater penetration of the DPYD product and growth in Yourgene Genomic Services delivered 37% organic growth despite the COVID-19 impact on oncology testing and the deferral of research projects around the world. COVID-19 testing volumes in the Company’s UK laboratory are increasing very rapidly and helped drive the additional growth for the Molecular Genetics segment. 

Product segments

6 months to

30 Sept 2020

£m

6 months to

30 Sept 2019

£m

 

NIPT

4.2

4.8

-13%

Reproductive Health

1.7

1.6

+2%

Molecular Genetics

2.4

1.4

+75%

Total

8.2

7.8

+5%


During the period we completed a £15 million (net) fundraise in order to fund the acquisition of Coastal Genomics, Inc., a sample preparation technology company based in Vancouver, Canada, enabling the Company to extend its offering and IP portfolio in the DNA sample preparation sector.  The acquisition increased Yourgene’s geographical penetration into the US and Canada, supplementing existing coverage in the UK, Europe, MEA and Asia.  Whilst still early in the integration phase, the Board is encouraged by progress to date.  Funds from the raise were also used to accelerate the Company's commercial activities, including new products and services such as the IONA® Nx NIPT workflow and our COVID-19 testing capacity. Reflecting this investment, cash and cash equivalents as at 30 September 2020 were £11.9m (as at 30 September 2019: £4.1m).

Full year outlook

Core laboratory customers are now returning to more normal patterns of testing which, if sustained, we expect to restore the previous growth trends in NIPT, reproductive health, oncology and research markets. In addition, Yourgene’s UK COVID-19 testing service is expanding rapidly and from the beginning of October 2020 is now operating at its full capacity of 10,000 tests per month. Capacity is being further expanded to 20,000 tests per month which is due to come on stream in the third quarter.  This will increase COVID-19 testing revenue potential to approximately £1m per month and there is potential for further expansion in line with anticipated demand.  This in-house testing uses Yourgene’s own Clarigene® Sars-CoV-2 product, which is also being sold internationally through our distribution network in our channel markets and through our growing direct sales force.  Regulatory submissions for Clarigene® are underway to access additional key regions and enable further geographical penetration.

Lyn Rees, Chief Executive Officer of Yourgene, commented: "I am pleased to report continued year-on-year growth in the first half in the most challenging of circumstances, and it goes to show the core resilience that Yourgene has developed through its greater geographic and business diversity.  With the US and Japan now reopening for business, I expect to see International revenues growing rapidly around our core products and we are busy recruiting commercial resource to support the growth in activity from existing customers and to drive the on-boarding of new ones. In our UK service laboratory we have successfully achieved our initial capacity objective of 10,000 COVID-19 tests per month and are now focussed on delivering 20,000 tests per month, which we hope to have in place by January 2021. Furthermore, our acquisition of Coastal Genomics in this period demonstrates our continued ability to execute on select, highly attractive inorganic growth opportunities.  Our full year outlook remains in line with management expectations and we look forward to updating investors again when we publish our half-year results in December.”

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

Yourgene Health plc

Lyn Rees, Chief Executive Officer
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing

Tel: +44 (0)161 669 8122

This email address is being protected from spambots. You need JavaScript enabled to view it.

Cairn Financial Advisers LLP (NOMAD)
Liam Murray / James Caithie / Ludovico Lazzaretti

 Tel: +44 (0)20 7213 0880

N+1 Singer (Joint Corporate Broker)
Aubrey Powell / Tom Salvesen / George Tzimas

Tel: +44 (0)20 7496 3000

Stifel Nicolaus Europe Limited (Joint Corporate Broker)

Nicholas Moore / Matthew Blawat / Ben Maddison

Tel: +44 (0)20 7710 7600

Walbrook PR Ltd (Media and Investor Relations)

Paul McManus / Lianne Cawthorne 

Tel: +44 (0)20 7933 8780 or This email address is being protected from spambots. You need JavaScript enabled to view it.

Mob: 07980 541 893 Mob: 07584 391 303   

About Yourgene Health

Yourgene Health is an international molecular diagnostics group which develops and commercialises genetic products and services. The group works in partnership with global leaders in DNA technology to advance diagnostic science. 

Yourgene primarily develops, manufactures, and commercialises simple and accurate molecular diagnostic solutions, for reproductive health, precision medicine and now infectious diseases. The Group’s flagship products include non-invasive prenatal tests (NIPT) for Down’s Syndrome and other genetic disorders, Cystic Fibrosis screening tests, invasive rapid aneuploidy tests, and a recent extension into the oncology space with DPYD genotyping.

The launch of Yourgene Genomic Services has enabled Yourgene to offer a global laboratory service network equipped to be a full life-cycle partner for clinical, research and pharmaceutical organisations to support partners at the preclinical, clinical, and post-market stages to develop, manufacture, obtain regulatory approval and commercialise new products and services. In addition, Yourgene Genomic Services offers an NIPT and high throughput COVID testing service.

In August 2020, Yourgene acquired Coastal Genomics, Inc., a sample preparation technology company based in Vancouver, Canada, enabling the Company to extend its offering and IP portfolio in the DNA sample preparation sector. The acquisition increased Yourgene’s geographical penetration into the US and Canada, supplementing existing coverage in the UK, Europe, MEA and Asia.

Yourgene Health is headquartered in Manchester, UK with offices in Taipei, Singapore, the US and Canada, and is listed on the London Stock Exchange's AIM market under the ticker "YGEN". For more information visit www.yourgene-health.com and follow us on twitter @Yourgene_Health.

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.



  • 5 November 2020 - Directorate change +

    Yourgene Health plc

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

    Directorate change
    Chief Scientific Officer appointment to drive new product development roadmap

    Manchester, UK – 5 November 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces the appointment of Dr. Joanne Mason as Chief Scientific Officer as a director of the Company with immediate effect.

    Dr Mason has been director of Research & Development (non-board position) at Yourgene since joining the Company in December 2019,

    Read More
  • 3 November 2020 - Partnership with Take2 Health Limited +

    Yourgene Health plc

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

    Partnership with Take2 Health Limited
    Yourgene to run genomic test for Nasopharyngeal Carcinoma (NPC) Screening in Taiwan

    Manchester, UK – 3 November 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that its wholly-owned subsidiary, Yourgene Health Taipei, has signed a regional marketing and services agreement (the “Agreement”) with Hong Kong based Take2 Health Limited (“Take2”), to promote Take2’s clinically-validated genomic test for Nasopharyngeal Carcinoma

    Read More
  • 26 October 2020 - Half-year Trading update +

    Yourgene Health plc

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

    Half-year Trading update
    H1 year-on-year growth demonstrating the resilience of the Company

    Manchester, UK – 26 October 2020: Yourgene (AIM: YGEN), a leading international molecular diagnostics group, announces a trading update for the half-year ended 30 September 2020 (“H1 2020”).

    Revenues for the half-year ended 30 September 2020 were £8.2m (H1 2019: £7.8m), up 5% compared to the previous year, with strong European revenues offsetting the

    Read More
  • 23 October 2020 - CQC registration +

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

    CQC registration

    Manchester, UK – 23 October 2020: Yourgene Health (AIM: YGEN), a leading international molecular diagnostics group, announces that it has received notification from the Care Quality Commission (“CQC”) that the Company’s facilities at Citylabs 1.0 in Manchester are now a second registered location from which to perform diagnostics and screening procedures.

    The extension of the Company’s current CQC registration allows NIPT testing greater flexibility to operate

    Read More
  • 21 October 2020 - Yourgene Genomic Services collaboration with Cytox +

    Yourgene Health plc

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

    Yourgene Genomic Services collaboration with Cytox

    Partnership with Cytox to enable clinical access to genoSCORE™ - a new genetic test to determine the risk of developing Alzheimer’s disease

    Manchester, UK – 21 October 2020: Yourgene Health (AIM: YGEN), a leading international molecular diagnostics group, announces a new collaboration between the recently launched Yourgene Genomic Services (“YGS”) and Cytox Ltd (“Cytox”), for a beta-testing genomic study on their

    Read More
  • 12 October 2020 - Elucigene DPYD tests to be used routinely in Wales +

    Yourgene Health plc

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

    Elucigene DPYD tests to be used routinely in Wales

    Wales is first UK nation to offer DPYD screening to patients undergoing chemotherapy
    DPYD tests screen patients to identify risk of severe side effects from certain chemotherapy treatments

    Manchester, UK – 12 October 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces its oncology product, Elucigene DPYD test, is now being used in Wales to routinely

    Read More
  • 8 October 2020 - Strategic reproductive health partnership secured in Japan +

    Yourgene Health plc

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

    Strategic reproductive health partnership secured in Japan

    Manchester, UK – 8 October 2020: Yourgene Health (AIM: YGEN), a leading international molecular diagnostics group, announces it has entered into a 5-year strategic partnership with a blue chip Japanese multinational to provide Yourgene’s Flex™ Analysis Software (“ Flex Software”) bioinformatics platform for a reproductive health project.

    Yourgene and the Japanese partner (the “Partner”) have entered into a technology transfer

    Read More
  • 7 October 2020 - IONA® Nx awarded contract with St George’s NHS Hospital +

    Yourgene Health plc

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

    IONA ® Nx awarded contract with St George’s NHS Hospital

    Manchester, UK – 7 October 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that it has been awarded the contract for non-invasive prenatal testing (NIPT) using its newly-launched IONA ® Nx NIPT Workflow ('IONA ® Nx'), by the prestigious St George’s NHS Trust Foundation in Tooting, South London (“St George’s”). The contract, subject to signing by both

    Read More
  • 28 September 2020 - Launch of Yourgene Genomic Services +

    Yourgene Health plc

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

    Launch of Yourgene Genomic Services

    Manchester, UK – 28 September 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces the launch of Yourgene Genomic Services, an integration and expansion of the Company’s international service laboratory offerings. Yourgene Genomic Services becomes a global laboratory service network equipped to be a full life-cycle partner for clinical, research and pharmaceutical organisations.

    Yourgene Genomic Services (“YGS”) will bring together

    Read More
  • 24 September 2020 - DPD reimbursement in Germany +

    Yourgene Health plc

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

    DPD reimbursement in Germany

    Manchester, UK – 24 September 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that the German Federal Joint Committee, G-BA, the national reimbursement authority in Germany, has approved the reimbursement for testing of Dihydropyrimidine Dehydrogenase (DPD) deficiency in Germany, which opens up the clinical market in this region for the Company’s first oncology genotyping product, the Elucigene DPYD Test. The

    Read More
  • 22 September 2020 - AGM statement +

    Yourgene Health plc

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

    AGM Statement

    Manchester, UK – 22 September 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, will be holding its Annual General Meeting (AGM) at 4:00pm today.

    At the meeting, Adam Reynolds, Non-executive Chairman, will make the following statement:

    I am delighted to welcome longstanding and recent shareholders to our AGM. Whilst the pandemic has presented serious challenges to individuals, communities and businesses worldwide, these are

    Read More
  • 21 September 2020 - US distribution agreement for DPYD and other products +

    Yourgene Health plc

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

    US distribution agreement for DPYD and other products

    Manchester, UK – 21 September 2020: Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that it has appointed Immuno-Biological Laboratories Inc (‘IBL-America’), a supplier of in-vitro diagnostic kits for the medical device and research industry, as a non-exclusive distributor for several PCR (‘polymerase chain reaction’) tests across Yourgene’s reproductive health and oncology portfolios in the US.

    The

    Read More
  • 3 September 2020 - IONA® Nx Launch +

    Yourgene Health plc

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

    IONA ® Nx Launch

    Manchester, UK – 3 September 2020:  Yourgene (AIM: YGEN), the international molecular diagnostics group, announces the launch of IONA ® Nx NIPT workflow, the Company’s new innovative non-invasive prenatal test (‘NIPT’). The IONA Nx seeks to offer clinical labs a high performing, flexible, scalable and innovative NIPT service in-house and is developed to run on the Illumina Nextseq 550 Dx platform for next generation

    Read More
  • 13 August 2020 - TGA approves IONA® Nx for sale in Australia +

    Yourgene Health plc

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

    TGA approves IONA ® Nx for sale in Australia

    Manchester, UK – 13 August 2020:  Yourgene (AIM: YGEN), the international molecular diagnostics group, announces that its IONA ® Nx NIPT workflow (‘IONA ® Nx’), a non-invasive prenatal test (‘NIPT’), has been approved by Australia’s Therapeutics Goods Association (‘TGA’) as a medical device Class 3, allowing Southern Cross Diagnostics, Yourgene’s Australian distributor, to commence sales.

    The TGA is the regulatory

    Read More
  • 5 August 2020 - Result of Placing +

    Yourgene Health plc

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

    Result of Placing

    Manchester, UK – 5 August 2020:  Yourgene Health plc (AIM: YGEN), the international molecular diagnostics group, is pleased to confirm, further to the announcements made yesterday and earlier today, that all allocations have been confirmed by Nplus1 Singer Capital Markets Limited ( "N+1 Singer" ), and the Company  has raised gross proceeds of £16.15 million (approximately £15.0 million net of expenses) through a Placing of

    Read More
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
Pregnant lady sitting at table with Laptop

Media & Investor Relations
Walbrook PR Ltd
4 Lombard Street
London
EC3V 9HD
yourgene@walbrookpr.com
T : +44 (0)20 7933 8780

Two business people looking at computer screen