Verici Dx PLC Commercialisation agreement with Thermo Fisher (4652T)

TIDMVRCI

RNS Number : 4652T

Verici Dx PLC

15 November 2023

Verici Dx plc

("Verici Dx" or the "Company")

Global licensing and commercialisation agreement with Thermo Fisher Scientific

Commercial agreement for exclusive license to Verici Dx Assay Technology for further development of a pre-transplant diagnostic, including non-exclusive access to Verici Dx's urine biorepository.

Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces that it has signed an exclusive global licensing agreement with Thermo Fisher Scientific, the world leader in serving science, to further develop an assay for pre-transplant prognostic testing for risk of early kidney rejection .

The exclusive license grants Thermo Fisher the rights to develop an assay for pre-transplant risk assessment for further development as a Laboratory Developed Test ("LDT") in its CLIA laboratory in the U.S., as well as the sole right, but not obligation, to manufacture, distribute and sell the assay worldwide. The license agreement includes an upfront payment to the Company, along with a number of further payments conditional upon operational deliverables related to technology transfer and related publications.

In addition, Verici Dx has granted Thermo Fisher a non-exclusive license for access to a portion of the Company's urine samples, demonstrating the additional value in the Company's data and sample assets for research.

Under the above arrangements, payment events for Verici Dx over the next 12 months are expected to total approximately $5 million with a further payment thereafter, in addition to ongoing royalties on tests sold.

Commenting on the transaction, Sara Barrington, CEO of Verici Dx said: "We are incredibly proud of our advancements in transforming potential outcomes for kidney transplant patients. By collaborating with Thermo Fisher, we believe we can accelerate the development of our technology, helping ensure that it reaches those who need it the most."

Nicole Brockway, President, Transplant Diagnostics, Thermo Fisher Scientific, said: "There is a significant need for effective tests that can identify the risk of transplant rejection early to help inform treatment decisions. Our hope is that this licensing agreement will allow us to develop a new prognostic assay that will expand and strengthen our portfolio of transplant testing solutions, demonstrating our commitment to enabling clinicians and improving the lives of patients throughout the pre- and post-transplant journey."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service , this inside information is now considered to be in the public domain.

Enquiries:

 
Verici Dx                                                        www.v ericidx .com 
Sara Barrington, CEO                                                Via Walbrook PR 
Julian Baines, Chairman 
 
Singer Capital Markets (Nominated                                Tel: 020 7496 3000 
 Adviser & Broker) 
Aubrey Powell / Sam Butcher / Jalini 
 Kalaravy 
 
Walbrook PR Limited                   Tel: 020 7933 8780 or vericidx@walbrookpr.com 
Paul McManus / Stephanie Cuthbert /              Mob: 07980 541 893 / 07502 558 258 
 Sam Allen

About Verici Dx plc www.vericidx.com

Verici Dx is a developer of a complementary suite of leading-edge tests forming a kidney transplant platform for personalised patient and organ response risk to assist clinicians in medical management for improved patient outcomes. The underlying technology is based upon artificial intelligence assisted transcriptomic analysis to provide RNA signatures focused upon the immune response and other biological pathway signals critical for transplant prognosis of risk of injury, rejection and graft failure from pre-transplant to late stage. The Company also has a mission to accelerate the pace of innovation by research using the fully characterised data from the underlying technology, including through collaboration with medical device, biopharmaceutical and data science partners.

The foundational research was driven by a deep understanding of cell-mediated immunity and is enabled by access to expertly curated collaborative studies in highly informative cohorts in kidney transplant.

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November 15, 2023 02:00 ET (07:00 GMT)

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