Announcement of TB Partnership with Becton Dickinson for the Supply and Distribution of Genedrive(TM) Molecular Point of Care Platform
MANCHESTER, UNITED KINGDOM -- (Marketwire) -- 08/07/12 -- Epistem ("Epistem" or "the Company") (AIM: EHP), the biotechnology and personalised medicine company, has announced that it has reached agreement with Becton Dickinson (BD) for the supply and distribution of its Mycobacterium tuberculosis (TB) test on a global basis (excluding India and the Indian Sub Continent) using its Genedrive platform. The TB supply and distribution agreement includes an upfront payment of $1m with further milestone payments of up to $3m, alongside escalating supply volumes over the next 5 years
Genedrive provides a major advance in next generation molecular diagnostic testing by providing a rapid, low cost, simple to use 'Point of Care' device with high sensitivity and specificity. Genedrive aims to provide a 'gold standard' identification of TB and antibiotic resistance testing. The World Health Organisation (WHO) has publicly recommended that nations incorporate new rapid molecular tests for tuberculosis into their disease testing programs. The Genedrive platform and TB test have recently received CE-IVD registration and regulatory submissions are now in preparation for the Indian market.
Globally, nearly 10 million cases of TB are reported annually and over $1bn dollars is spent annually on diagnostic testing, with India and China having the largest numbers of TB sufferers.
Epistem's Genedrive platform has applications across a wide range of bacterial, viral and fungal and somatic mutation diseases for which the Company is developing a menu of diagnostic tests.
Notes for editors
Epistem is a biotechnology company commercialising its expertise in stem cells in the areas of epithelial (oncology, gastrointestinal and dermatological) and infectious diseases. Epistem develops innovative therapeutics, biomarkers and diagnostics (Genedrive) alongside contract research services to drug development companies. The Group's core expertise is focused around the regulation of adult stem cells located in epithelial tissue including the gastrointestinal tract, skin, hair follicles, breast and prostate and utilizing novel and proprietary next generation molecular biology for use in personalised medicine. www.epistem.co.ukContacts: Epistem Plc Matthew Walls Chief Executive Officer ++44 161 606 7258 Epistem Plc John Rylands Chief Financial Officer ++44 161 606 7258 Peel Hunt LLP Nominated Adviser: James Steel/Vijay Barathan ++44 207 418 8900 De Facto Financial Mike Wort/Anna Dunphy ++44 207 556 1063 NEXT ARTICLE