Yourgene inks agreement with US-based precision medicine company

Molecular diagnostics group Yourgene has inked a licence and supply agreement with an unnamed American precision medicine company.

Yourgene said on Wednesday that the agreement, which has an initial term of three years, grants the mystery partner a non-exclusive licence to the company's Flex analysis software and commits it to supplying sample preparation reagents and instrumentation to support the planned launch of a new clinical reproductive health screening service across all US states.

Chief executive Lyn Rees said: "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."

As of 0955 BST, Yourgene shares were up 0.19% at 13.52p.