Genedrive set to apply for NICE EVA funding

Genedrive shares rose on Monday, on the launch of the NICE early value assessment (EVA) evidence generation funding call, backed by the National Institute for Health and Care Research (NIHR).

The AIM-traded firm said the initiative, in collaboration with the Office for Life Sciences (OLS) and the National Institute for Health and Care Excellence (NICE), aimed to bridge real-world evidence gaps to expedite the widespread adoption of technologies endorsed for use in the NHS through the NICE EVA framework.

It said the Real World Evidence Programme, supported by £10m of government funding as part of the government's ‘Life Sciences Vision’, was intended to accelerate the integration of recommended technologies into healthcare practices.

In response, Genedrive said it intended to submit an application for funding.

The company said it was aiming to address the NICE EVA evidence generation recommendations concerning the Genedrive MT-RNR1 ID Kit.

“We are delighted that funding is to be made available for the real world evidence generation for the NICE EVA technologies to achieve full NICE guidance,” said chief executive officer James Cheek.

“This gives the potential for our Genedrive MT-RNR1 ID Kit to move from a conditional recommendation to a full recommendation with NICE, and accelerate adoption of the kit in the NHS.”

At 1126 GMT, shares in Genedrive were up 1.62% at 4.7p.

Reporting by Josh White for Sharecast.com.