9th Mar 2016 08:39
LONDON (Alliance News) - Premaitha Health PLC Wednesday said it has signed an exclusive distribution agreement with GeNext LLC which will see the London-listed company's flagship IONA test marketed in Russia.
The agreement with GeNext, a company providing molecular diagnostic products, will open up a key new market for Premaitha, allowing pregnant women to access non-invasive prenatal testing through IONA.
Premaitha said there around 2.0 million pregnacies per year in the country, and the IONA test will reduce the number of women who are "unnecessarily subjected to risky, invasive follow-up procedures to diagnose Down's syndrome and other genetic conditions," it said.
As part of the agreement, GeNext will establish a central laboratory to act as a regional hub to process samples. In the interim period, GeNext will send samples to Premaitha's Manchester laboratory to be processed.
Premaitha shares were up 5.2% to 10.65 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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