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Over the course of my career, I have been privileged to chair and lead a number of UK and European life sciences companies, from Axis Shield, where I was CEO until its £235 million acquisition by Alere, to Horizon Discovery, which I chaired through its IPO and subsequent £296 million sale to PerkinElmer. I am also a non-executive director of Novacyt, chair of LifeArc, RevoNA Bio, and, for the past decade, genedrive plc.

What unites these organisations is not only their commitment to advancing science but their ability to turn innovation into impact. Each one has developed technologies that have either improved patient outcomes directly or enabled others to deliver life sciences innovation at scale. And yet, in reflecting on these experiences, one challenge has become increasingly clear: while the UK consistently produces world-class science, the capital needed to scale businesses is often limited.

Many AIM-listed small-cap companies operate in a cycle where breakthrough technologies are proven, but the ability to fully commercialise them is constrained by limited financial support. This has too often left promising businesses exposed and ultimately pushed toward overseas acquisitions. While those exits have generated value and jobs, one cannot help but wonder what could have been achieved if companies had been properly capitalised to grow to their full potential here.

Based in Manchester, genedrive is a homegrown UK company at the global forefront of pharmacogenetic testing. We specialise in rapid, point-of-care genetic tests designed for emergency healthcare settings to guide safe and effective drug prescription for patients. These technologies have been developed with the NHS, for the NHS, to address real-world clinical needs.

Today, genedrive has two CE-IVD approved and NICE-recommended pharmacogenetic tests already in use. These tests are not only improving patient safety and outcomes but also reducing NHS waiting lists, supporting equitable access to care, and delivering meaningful cost savings to the system. Importantly, this is no longer just about promise. It is about delivery.

We are now in active commercial rollout. We expect to double revenues from 2024 levels, reaching £1 million in 2025. Discussions with NHS Trusts and Integrated Care Boards across England are progressing, pilots and studies are going well across indications. We have been selected for national roll out in Scotland, and there is growing interest internationally, highlighting significant export potential as the company grows. For the first time, genedrive is building commercial momentum, positioning itself not only as a leader in the UK, but also a first mover on the global stage.

First, it demonstrates that the UK can produce and commercialise innovative technologies that directly support the NHS. Second, it proves that world-class science is not just a London story. It is being delivered from the Northern Powerhouse, generating jobs and growth in Manchester and beyond. Third, it highlights why the UK’s investment ecosystem must do better at supporting companies at this crucial inflection point.

genedrive has been through the long, necessary journey of technology development. We are now positioned at the point of commercial success. If this company were coming to market today, it would be a strong AIM IPO candidate, backed by proven technology, regulatory approval, NICE recommendation, used by the NHS, and growing revenues.

This is the moment for investors and government to take note. Supporting companies like genedrive is about more than one balance sheet. It is about backing the UK’s ability to capture economic value, create high-skilled jobs, and ensure that homegrown innovation benefits UK patients first.

genedrive is ready. With the right support, it can become a sustainable and globally competitive business. The UK has an opportunity here; one we cannot afford to miss.

From Innovation to Impact: genedrive’s Next Chapter, Ian Gilham