Genedrive PLC NICE Early Value Assessment update

RNS Number : 5161D

Genedrive PLC

19 February 2024

 

genedrive plc

("genedrive" or the "Company")

 

 NICE Early Value Assessment update

 

genedrive plc (AIM: GDR), the point of care Pharmacogenetic testing company, notes the opening of the NICE Early Value Assessment ("EVA") evidence generation funding call, supported by the National Institute for Health and Care Research (NIHR). The programme works in collaboration with the Office for Life Sciences (OLS) and the National Institute for Health and Care Excellence (NICE). The Real World Evidence Programme is backed by £10 million of government funding, as part of the UK Government's Life Sciences Vision.

 

The programme is aimed at addressing real world evidence gaps to accelerate widespread adoption of technologies, that have been recommended for use in the NHS through the NICE EVA framework.

 

Genedrive confirms that it is in the process of submitting an application for funding to address the NICE EVA evidence generation recommendations of the Genedrive® MT-RNR1 ID Kit, which are required for progressing the NICE conditional recommendation into a full recommendation. 

 

Further details of the programme, which is due to start in October 2024 can be found here: https://www.nihr.ac.uk/funding/nihr-i4i-and-ols-real-world-evidence-programme/34713

 

James Cheek, Chief Executive Officer of genedrive plc, said: "We are delighted that funding is to be made available for the real world evidence generation for the NICE EVA technologies to achieve full NICE guidance. This gives the potential for our Genedrive® MT-RNR1 ID Kit to move from a conditional recommendation to a full recommendation with NICE, and accelerate adoption of the kit in the NHS." 

 

 

For further details, please contact:

 

genedrive plc	[phone]
James Cheek: CEO / Russ Shaw: CFO
Peel Hunt LLP (Nominated Adviser and Broker)	[phone]
James Steel / Patrick Birkholm
Walbrook PR Ltd (Media & Investor Relations)	[phone] or [e-mail]
Anna Dunphy	[phone]

 

About genedrive plc (http://www.genedriveplc.com) 

 

genedrive plc is a pharmacogenetic testing company developing and commercialising a low cost, rapid, versatile, simple to use and robust point of need pharmacogenetic platform for the diagnosis of genetic variations. This helps clinicians to quickly access key genetic information that will help them make the right choices over the right medicine or dosage to use for an effective treatment. Based in the UK, the Company is at the forefront of work on Point of Care pharmacogenetics. Pharmacogenetics looks at how your genetics impacts a medicines ability to work for you. Therefore, by using pharmacogenetics, medicines can be made safer and more effective. The Company has launched its flagship product, the Genedrive® MT-RNR1 ID Kit, which is a single-use disposable cartridge that circumvents the requirement for cold chain logistics by providing temperature stable reagent test kits for use on their proprietary test platform. This test allows clinicians to make a decision on antibiotic use within 26 minutes; ensuring vital care is delivered with no negative impact on the patient pathway.

 

The Company has a clear commercial strategy focused on accelerating growth through maximising in-market sales, geographic and portfolio expansion and strategic M&A, and operates out of its facilities in Manchester.

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