Genetic Signatures secures supply deal in Wales

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Genetic Signatures (ASX:GSS) has announced a three-year contract to supply its EasyScreen genetic diagnostic kits and instruments to seven hospitals across Wales.

The contract has a value of up to $1.8 million per year and also has an option to extend for two years. EasyScreen molecular PCR tests use Genetic Signatures’ technology to diagnose infectious diseases more accurately and rapidly than traditional methods.

According to the US Centers for Disease Control, there are an estimated 685 million cases of Norovirus per annum, the most common cause of gastroenteritis, representing 20 per cent of all cases.

It results in a childhood mortality rate of approximately 50,000 each year. While outbreaks of gastroenteritis have been suppressed in the UK during the COVID pandemic, it is predicted to return rapidly to pre-pandemic levels as restrictions are relaxed.

“I’m pleased to welcome this partnership with Public Health Wales (PHW)”, said chief executive Dr John Melki.

“In awarding the contract PHW noted Genetic Signatures’ demonstrated flexibility regarding increasing the workload as needed plus the range of targets as factors supporting our application.”

He continued, “Traction is building for non SARS-CoV-2 related business in Europe after considerable effort by the sales teams, despite travel and other restrictions. It validates our strategy of targeting high throughput hospital and pathology laboratories and government programs to drive revenue and demonstrate the cost savings, speed and accuracy of our EasyScreen testing platform.”

Genetic Signatures has recently joined the BioHub Birmingham as the launchpad for a planned further expansion into Europe, the Middle East and Africa. The BioHub is the first physical footprint within the UK and Europe for Genetic Signatures.