Yourgene Health builds 'strong foundation' following 'transformational' period

Molecular diagnostics group Yourgene Health told investors at its annual general meeting on Tuesday that it had built a "strong foundation" following a period of "transformational change".

Yourgene said this foundation was delivering "rapid growth" in line with its expectations and added that the integration of the recently acquired Elucigene was progressing "extremely well", with strong cultural alignment within the combined teams and identified synergy savings of over £500,000.

The AIM-listed group also revealed it had secured its first customer revenues from the USA as it looked to broaden its product portfolio and its territorial expansion.

The development of Yourgene's NIPT product on the Illumina platform was on track for launch in early 2020 and its new chemo-toxicity diagnostic assay for its first oncology product, DPYD, was set to be officially launched in Manchester on Wednesday.

Lastly, chairman Adam Reynolds said: "The balance sheet has been transformed over the past twelve months and with an experienced and motivated executive management team in place, supported by the additional high calibre non-executives that have joined the board I am confident of the growth strategy we have set ourselves to deliver enhanced shareholder value."

As of 1000 BST, Cohort shares had climbed 3.11% to 11.60p.