Business
Additional grant funding under DEVOTE programme
Additional grant funding under DEVOTE programme.
About this update from Genedrive Plc
[{"type":"text","content":"\n\ngenedrive plc\n(\"genedrive\" or the \"Company\")\n \nGenedrive awarded additional grant funding under the DEVOTE programme\n \ngenedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, announces the extension of the highly successful multi-partner grant award from Innovate UK and the UK Government's Innovation Accelerator programme.\n \nThe Development and Validation of Technology for Time Critical Genomic Testing (\"DEVOTE\") grant, saw the Company benefit from approximately £1.2m through a combination of direct grant income, in-kind partner contributions, and other aligned funding. The DEVOTE programme provided the Company with acute care patient access and supporting infrastructure to assess the real-world clinical performance of time-critical clinical tests in NHS settings. The programme's lead partner, the University of Manchester (\"UoM\"), has supported the evaluation, validation, and implementation of the Genedrive® CYP2C19 ID Kit.\n \nDuring the DEVOTE programme the Company completed validation and UKCA certification of the Genedrive® CYP2C19-ID Kit, which was subsequently published in the Journal of Molecular Diagnostics in December 2024 and recommended in final guidance from the UK's National Institute for Health and Care Excellence (\"NICE\") as the rapid genetics platform of choice for use in the NHS for Clopidogrel genotyping after Ischaemic or Transient Ischaemic Attack.\n \nThe significant success of the DEVOTE programme has led to follow-on Innovate UK Innovation Accelerator funding to further progress the DEVOTE project, of which the Company will receive £0.2m directly over the next six months for continuation of implementation of user-led product enhancements which are expected to further improve user experiences in rapid genetic testing environments. \n \nGino Miele, Chief Executive Officer of genedrive plc, said: \"The DEVOTE programme has been an incredible success and follow-on funding provides a further opportunity for us to partner once again with the University of Manchester in continuing development of time-critical genetic test solutions. The additional non-dilutive grant funding facilitates the mitigation of development costs that would otherwise have been absorbed by the Company.\"\n \nFor further details pl...