Genedrive PLC - Receipt of R&D tax credit
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RNS Number : 2142D
Genedrive PLC
02 April 2025
genedrive plc
("genedrive" or the "Company")
Receipt of R&D tax credit
genedrive plc (AIM: GDR), the point of care pharmacogenetic testing company, today confirms it
has received an R&D tax credit of approximately £0.5m from HMRC in respect of the financial year
ended 30 June 2024.
For further details please contact:
genedrive plc
Gino Miele: CEO / Russ Shaw: CFO
+44 (0)161 989 0245
Peel Hunt LLP (Nominated Adviser and
Broker)
James Steel
+44 (0)20 7418 8900
Walbrook PR Ltd (Media & Investor
Relations)
Anna Dunphy
+44 (0)20 7933 8780
orgenedrive@walbrookpr.com
+44 (0)7876 741 001
About genedrive plc (http://www.genedriveplc.com)
genedrive plc is a pharmacogenetic testing company developing and commercialising a low cost,
rapid, versatile and simple to use point of need pharmacogenetic platform for the diagnosis of
genetic variants. This helps clinicians to quickly access key genetic information that will aid them
make the right choices over the right medicine or dosage to use for an effective treatment,
particularly important in time-critical emergency care healthcare paradigms. Based in the UK, the
Company is at the forefront of Point of Care pharmacogenetic testing in emergency healthcare.
Pharmacogenetics informs on how your individual genetics impact a medicines ability to work for
you. Therefore, by using pharmacogenetics, medicine choices can be personalised, made safer
and more effective. The Company has launched its two flagship products, the Genedrive® MTRNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, both developed and validated in collaboration
with NHS partners and deployed on its point of care thermocycler platform. Both tests are singleuse disposable cartridges which are ambient temperature stable, circumventing the requirement
for cold chain logistics. The Directors believe the Genedrive® MT-RNR1 ID Kit is a worlds-first and
allows clinicians to make a decision on antibiotic use in neonatal intensive care units within 26
minutes, ensuring vital care is delivered, avoiding adverse effects potentially otherwise
encountered and with no negative impact on the patient care pathway. Its CYP2C19 ID Kit which
has no comparably positioned competitor currently allows clinicians to make a decision on the
use of Clopidogrel in stroke patients in 70 minutes, ensuring that patients who are unlikely to
benefit from or suffer adverse effects from Clopidogrel receive an alternative antiplatelet
therapeutic in a timely manner, ultimately improving outcomes. Both tests have undergone
review by the National Institute for Health and Care Clinical Excellence ("NICE") and have been
recommended for use in the UK NHS. The Company has a clear commercial strategy focused on
accelerating growth through maximising in-market sales, geographic and portfolio expansion and
strategic M&A, and operates out of its facilities in Manchester.
The Company has a clear commercial strategy focused on accelerating growth through
maximising in-market sales, geographic and portfolio expansion and strategic M&A, and operates
out of its facilities in Manchester.
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