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Yourgene Health (YGEN) Shares Climb On Multi-Year Licence and Supply Deal

Updated: 9 Jun 2021

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.”

YGEN-price-chart
Source: IG

Yourgene's share price is currently trading at 13.66p, up 0.92%, following an initial jump to 14.9p earlier in the session.

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