Business
Preliminary Results for year ended 30 June 2015
Preliminary Results for year ended 30 June 2015.
About this update from Genedrive Plc
[{"type":"text","content":"\n \nRNS Number : 6410D Epistem Holdings plc 28 October 2015 \n\n \n \nRNS Press Release\nFor release: 28th October 2015: 7.00 AM\nPreliminary Results for the year ended 30 June 2015\n \nEpistem Holdings Plc (LSE: EHP) (\"Epistem\" or \"the Company\"), the personalised medicine and biotechnology company, today announces its preliminary results for the year to 30 June 2015. \n \nThe 2014/15 financial year saw excellent progress with Genedrive®, our novel Point of Care PCR instrument. In May, we announced the landmark Indian regulatory approval, paving the way for placing Genedrive® units with key opinion leaders (KOLs) and the launch of the Company's tuberculosis (TB) and associated antibiotic resistance test. This represents a step-change for the Company. We have also made very good progress with the development of Genedrive® tests for Hepatitis C diagnosis and pharmacogenomic applications, whilst also initiating new projects in the fields of human pathogen detection and animal disease testing. The 2014/15 financial year saw the Company experience a difficult year in its established services operations. During the year, Dr Ian Gilham took over the role of Chairman from David Evans and was then appointed Interim CEO in August 2015 when it was announced that Matthew Walls would be leaving that position. Matthew resigned as a Director on 23 October 2015.\n \nFinancial and Operating Highlights \n· The award by The Drug Controller General of India (DCGI) to our Indian distribution partner, Xcelris Labs, of an import licence in respect of our TB and associated antibiotic resistance test for use on the Genedrive® instrument.\n· Invoicing of the first Genedrive® product sales in advance of the programme of placing units and TB tests with Indian KOL's in preparation for the phased launch of the TB test.\n· The successful conclusion of the US Department of Defence assessment of Genedrive® for use in the detection of harmful human pathogens, followed by the announcement in August 2015 of funding of up to $7.8m (c.£5.0m) over five years, the first $2.4m (£1.5m) stage of which is due for completion during calendar year 2016.\n· Excellent progress with the development of the Genedrive® 'Hepatitis C' (HCV) blood test. The pr...