Premaitha inks partnership agreement with mystery Taiwanese outfit

4th Oct 2018 12:50

(Sharecast News) - Molecular diagnostics outfit Premaitha has inked a new partnership agreement with an unnamed Taiwanese research organisation to deliver its next-generation sequencing testing in oncology.Premaitha said the agreement between its Yourgene Bioscience division and the mystery partner, a leading clinical research organisation, was anticipated to generate approximately $1m in revenues over the next 6-12 months.Yourgene will provide genetic testing services using NGS technology on patient samples gathered by its Asian partner for the purpose of research into early-stage cancer screening.The AIM-listed firm also told investors that further project phases with the partner were anticipated in the future.Chief executive Lyn Rees, said: "This partnership is directly in-line with our strategy to diversify Premaitha's products and services by leveraging the group's existing expertise in collaboration with global partners, as we further our commercialisation.""This collaboration helps provide greater revenue visibility as we look to execute on our strategy of becoming a truly global business."As of 1300 BST, Premaitha shares had picked up 1.01% to 10p.