GCIVerici Dx celebrates significant advancement in Thermo Fisher Deal
Last week , a kidney transplant diagnostics expert with a market cap of £15m, announced that it had successfully transferred and received payment for a portion of the urine samples under its flagship licensing agreement with Thermo Fisher Scientific.
Today the company announced that it had also provided Thermo Fisher with the agreed pre-transplant prognostic technology to develop its own in-house kidney test. This triggering a further milestone payment under the contract highlighting the intrinsic value within VericiDx’s research assets.
Thermo Fisher's diagnostic is to be based entirely on VericiDx’s patented Clarava test, which allows doctors to identify patients (pre graft) most likely to require increased monitoring (post operation) - including adjustments to the type, dose and duration of immunosuppressants.
CEO Sara Barrington commenting: "I am delighted to announce this smooth transition between Verici Dx and Thermo Fisher. The collaboration brings together Verici Dx's innovative technology into Thermo Fisher's new CLIA laboratory in the US, which will ultimately benefit patients and the field of organ transplantation."
In terms of the numbers, Singer Capital Markets have a target price of 20p/share and are forecasting sales to climb to $7.5m and $13.0m this year and next (vs $1.0m LY), with Verici Dx also becoming profitable in 2025 ($1.3m EBITDA).
Exciting times ahead.
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