Award of Funding for Next Stage of US Department of Defense Programme to Develop Genedrive® Biohazard Identification Tests

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RNS Press Release
For release: 21 March 2016

Award of Funding for Next Stage of US Department of Defense Programme to Develop Genedrive® Biohazard Identification Tests

Epistem Holdings Plc (LSE: EHP), the molecular diagnostics, personalised medicine and biotechnology company, announces today that the US Department of Defense has awarded $2.9m in funding for the next phase of Epistem's programme to develop a handheld Genedrive® test for biohazard identification.

In August 2015, Epistem announced the first $2.4m phase of the $7.8m programme with the US Department of Defense for the development and manufacture of Genedrive® as a biohazard identification system. The second phase announced today was triggered by successful progress to date and is expected to be largely undertaken during the financial year 2016/17.

David Budd, CEO of Epistem, commented "Today's announcement is a recognition of our team's expertise in developing new assays and marks a further important validation of Genedrive®'s potential  as a highly versatile molecular diagnostic system which can be used outside a central lab setting. The US Department of Defense programme funding increases our overall development capability and our ability to develop Genedrive® to realise its full potential."
 

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For further details please contact:
Epistem Holdings Plc
David Budd: CEO                                                                                                      +44 (0)161 606 7258
John Rylands: Finance Director

Peel Hunt LLP
James Steel                                                                                                              +44 (0)207 418 8900
Tom Burt
Oliver Jackson

Consilium Strategic Communications
Chris Gardner                                                                                                                     +44 (0)203 709 5700
Laura Thornton                                                                        
epistem@consilium-comms.com


Notes to Editors

Epistem is a personalised medicine and biotechnology company developing innovative molecular diagnostics and biomarkers alongside providing contract research services to drug development companies. Epistem's Genedrive® is a next-generation Point of Care molecular diagnostic system providing a low cost, rapid, versatile, simple to use and robust diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. Genedrive® aims to provide a 'gold standard' identification of Tuberculosis & antibiotic resistance. The World Health Organisation (WHO) has publicly recommended that nations incorporate new rapid and molecular tests for Tuberculosis into their disease testing programs. The Genedrive® platform and its first Tuberculosis test is now being prepared for launch in India and the Indian sub-continent. Further details can be found at: www.epistem.co.uk and www.genedrive.com