Tuesday 30 June 2020
Here is our summary of the day's hottest RNS alerts from across London's Alternative Investments Market (AIM).
Yourgene Health (YGEN.LSE)
Launch of Clarigene™ SARS-CoV-2test ('RUO')
Yourgene , a leading international molecular diagnostics group, announced the launch of its Clarigene™ SARS-CoV-2 test for research use only ('RUO').
The Clarigene™ SARS-CoV-2 test is a molecular PCR (polymerase chain reaction) based COVID-19 assay, which detects the SARS-CoV-2 virus RNA* to confirm the presence of the virus. The test is used to detect the presence of the virus and whether individuals are currently infected, not the presence of antibodies. The assay is simple but highly effective with one sample, the viral target and the internal control all in the same PCR well**.
The test kit contains a mastermix, primer and probe sets and is suitable for RNA extracted from a nasopharyngeal swab. The assay has a rapid turnaround time of 1hr 20min following RNA extraction and set up. The competitive assay has been developed to reduce the chance of false negative results being generated, which has been an industry wide problem1. Yourgene's internal control primers are designed to only detect RNA and not amplify patient DNA, which leads to false negatives. The assays have been benchmarked against data from an independent laboratory assessment body. Preliminary data has shown the test to have 100% specificity.
The Clarigene™ SARS-CoV-2 test will be made available to Yourgene's customers as evaluation kits, and as previously announced on 26 May 2020, a CE marked in vitro diagnostic kit ('CE IVD'), for diagnostic use, is still on track for release at the end of July 2020. The CE-IVD version will have two viral targets and assay controls, making it more desirable from the reimbursement perspective across several European regions.
Yourgene already has over 300 laboratory customers and a growing global network of distribution channels in place through which to drive sales of the Clarigene™ SARS-CoV-2 test and CE IVD kits, once approved, targeting a pipeline of opportunities . In addition, the test will be run in Yourgene's service laboratory in Manchester.
IQGeo Group (IQG.LSE)
IQGeo announces major contract expansion
IQGeo Group plc (AIM: IQG) is pleased to announce a significantexpansion in software licenses across new teams within one of Canada's largest telecoms network operators. This latest contract has an overall value of CAD 1.2m (GBP 0.7m) including increased software licence subscriptions and subscription renewals to be recognised over the next two years, together with additional implementation services to be recognised in the next year.
Following a successful initial deployment of the IQGeo Platform to replace legacy software and digitise formerly manual operational processes, this contract expansion extends the use of the IQGeo software into the customer's construction and bid management teams. Using the IQGeo software in these departments enables digitisation and automation of key parts of the operational lifecycle of the telecoms network assets, significantly reducing construction planning times.
Richard Petti, CEO at IQGeo, said : "We are very pleased to announce this contract expansion into the construction and bid management teams with a major tier 1 Canadian telecoms operator. Our innovative Workflow Manager software was launched in 2019 and is building sales momentum with customers and prospects thanks to its strong ROI. This contract expansion also reflects a common trend we see with our customers extending functionality to address additional operational processes, thereby deepening our relationship and building long-term revenue streams."
Renalytix AI (RENX.LSE)
University of Michigan Partnership & Data Sharing
Renalytix AI plc, an artificial intelligence-enabled in vitro diagnostics company focused on optimizing clinical management of kidney disease to drive improved patient outcomes and lower healthcare costs, announced a partnership with the University of Michigan ("UM") to extend the application of the KidneyIntelX™ platform to an expanded population of patients with established Chronic Kidney Disease (CKD) or at risk of developing CKD. RenalytixAI also announces a data sharing agreement with a top ten global pharmaceutical company.
Collaboration with University of Michigan provides access to novel biomarker technology and to the C-PROBE cohort for potential expanded indications for KidneyIntelX
Data sharing agreement with top ten global pharmaceutical company enables investigation of repeat testing with KidneyIntelX and prediction of therapeutic response
Partnership agreement with the University of Michigan
RenalytixAI has entered into a partnership with the University of Michigan ("UM") under which RenalytixAI will be given access to the Clinical Phenotyping Resource and Biobank Core ("C-PROBE") of the UM George M. O'Brien Kidney Translational Core Center comprising of over 800 patients with a broad etiology of CKD with up to 10 years of follow up. Additionally, through this partnership, RenalytixAI has obtained an exclusive option under which it can license certain intellectual property surrounding the biomarker urinary Epithelial Growth Factor ("uEGF"). Prof. Mattias Kretzler and his team at UM have shown uEGF to be highly predictive of incident and progressive CKD1.
The first phase of the partnership with UM, expected to be completed in 2020, will study the potential role of uEGF in further enhancing the prognostic performance of the KidneyIntelX platform in identifying patients at highest risk of fast-progressing Diabetic Kidney Disease ("DKD") and kidney failure. Significantly, through this partnership, RenalytixAI plans to advance the development and validation of the KidneyIntelX platform for expanded use in a broad CKD population.
The C-PROBE biobank provides RenalytixAI with access to a large repository of longitudinally followed CKD patients with matched urine and plasma samples coupled with extensive medical records. The patient population in the C-PROBE study includes a range of CKD subtypes including those related to Diabetes, Hypertension and Glomerular Disease which combined, account for over 75% of all cases worldwide.
Data sharing agreement with a leading top ten global pharmaceutical company
RenalytixAI also announces that it has entered into a data sharing agreement with a top ten global pharmaceutical company providing RenalytixAI with access to a deep data repository from completed clinical studies in DKD. RenalytixAI plans to analyze this data in combination with corresponding biomarker data to evaluate KidneyIntelX performance in predicting patients' responses to novel therapeutic agents indicated to slow or prevent kidney function decline. Data analysis will also include evaluation of KidneyIntelX over multiple time points within a six year follow-up period, potentially demonstrating the value of dynamic, repeated KidneyIntelX measurements.