22nd Sep 2015 08:12
LONDON (Alliance News) - Premaitha Health PLC Tuesday said it has inked a deal with a private laboratory group in Chile for its non-invasive prenatal screening test IONA, as it also reported a widened pretax loss for its most recently ended financial year due to costs related to its reverse takeover and relisting on AIM.
Premaitha said it signed the deal with Servicios Genéticos OriGen. No financial details were disclosed.
The company reported a pretax loss of GBP6.8 million for the 13 months to end-March, widened from a pretax loss of GBP1.5 million for the year to end-February 2014, mostly as a result of exceptional costs. In July last year Premaitha Health Ltd reversed into AIM-listed cash shell ViaLogy, and relisted on AIM.
Premaitha launched its first product, IONA, In February. As a result it reported revenue of GBP132,267 for the period, compared to GBP102,500 a year before. Following the year end the company raised GBP8.0 million to support the launch of IONA.
Illumina Inc in March filed a patent infringement case against Premaitha over the IONA test, and following the year end Premaitha filed a counterclaim and defence.
"In the next year, we expect to see further development of our business with a unique world-class product in a very rapidly expanding market with multi-billion dollar global potential. We have built up an excellent team across technical, operational and commercial disciplines and we will continue market penetration in close collaboration with key opinion leaders and national screening bodies," said Chairman David Evans in a statement.
Shares in Premaitha were down 12% at 17.75 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Premaitha Health