27th Oct 2016 07:55
LONDON (Alliance News) - Premaitha Health PLC Thursday said it is "building a highly compelling business" despite short-term distractions caused by patent infringement claims from Illumina Inc.
Illumina is pursuing a patent case against Premaitha, claiming that its non-invasive pre-natal testing device, IONA, infringes on its patents, which Premaitha has denied. Illumina also is pursuing cases against Premaitha customers in Poland and Switzerland.
In a statement ahead of its annual general meeting Thursday, Premaitha noted it is "not the only party" receiving Illumina's attentions.
"We are mounting a vigorous defence, taking decisive steps to de-risk the business through geographic diversification, and we are encouraged by the intervention of the European Commission with an investigation into potentially anti-competitive behaviour by Illumina and Sequenom," Premaitha Non-Executive Chairman Adam Reynolds said in the statement.
Elsewhere, the company said it had made sales of over 17,000 IONA tests in its first full year of commercialisation, generating GBP2.5 million in sales for Premaitha.
Premaitha said the number of laboratories using its tests continues to grow, and with eleven labs now operational and two more to go live before Christmas, it is in an "excellent position to continue its growth path".
Shares in Premaitha were up 2.9% at 9.14 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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