BIOTECH company Premaitha Health, the developer of the ground-breaking non-invasive prenatal test IONA, has acquired Taiwan-based Yourgene Bioscience which is development the treatment in Asia in a deal for about £7.2m.
Manchester-based Premaitha has announced the conditional acquisition of the entire issued share capital of Yourgene, a significant Asian NIPT bioinformatics specialist based in Taiwan. It has a commercial hub in Singapore and annual sales of circa £2m generated from across South East Asia and India, and is broadly break-even at those trading levels.
Premaitha now supplies more than 50 UK hospitals through client laboratories and in-house clinical service and the NHS is to make non-invasive prenatal screening tests (NIPT) available for high risk cases from 2018.
Premaitha chief executive Dr Stephen Little said: “We are very pleased with the progress being made with the IONA test in the regions where we are operational, and we have positioned ourselves to take advantage of the exceptional opportunities emerging in the Middle East and Asia. Within Europe and the Middle East we continue to make excellent progress with a substantial pipeline of new customers that we believe will generate significant revenues in the medium term.”
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