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Yourgene Health's (LON: YGEN) shares are climbing on Wednesday after the international molecular diagnostics group revealed it has entered into a licence and supply agreement with a leading US precision medicine company.
The deal is for three years, starting on April 1 2022. It grants the partner a non-exclusive licence to Yourgene's Flex Analysis Software and commits the company to supply sample preparation reagents and instrumentation to support the planned launch of a new clinical reproductive health screening service in the US states.
Automatic annual renewals are built into the agreement after the initial term.
Yourgene said it will enable the partner to launch a reproductive health screening test. The testing service will be undertaken after an in-depth customised workflow development and a validation and verification phase.
Lyn Rees, CEO of Yourgene Health, commented: “We are extremely pleased to sign this agreement with such a prestigious US company and this is a strong endorsement of our software and technology expertise. This collaboration aligns with our strategic goal of providing partners with the best-in-class instrumentation and medical software analysis capabilities.
“We look forward to enabling our partner to launch a competitive clinical offering into the US market in 2022 and we anticipate that this partnership will generate accretive multi-million dollar revenues for Yourgene in the years to follow.
“Our move into the US market space is gaining momentum and our newly acquired Ranger Technology is proving to be a real door opener.”
Yourgene's share price is currently trading at 13.66p, up 0.92%, following an initial jump to 14.9p earlier in the session.
Yourgene Health shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Yourgene Health shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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