EDX Medical Group plc (LON:EDX), which develops innovative digital diagnostic products and services supporting personalised treatments for cancer and infectious diseases, has announced that the admission of its ordinary shares of £0.01 each to trading on the AIM Market, a market operated by the London Stock Exchange, will take place today. Dealings in the Ordinary Shares on AIM will commence at 8:00 a.m. today under the TIDM “EDX” and ISIN: GB00BNDMJS47.
Additionally, the Company’s Ordinary Shares will be withdrawn from trading on the Apex Segment of the Aquis Stock Exchange Growth Market with effect from 8:00 a.m. today, in accordance with AQSE Rule 5.3.
Key Investment Highlights
· Commercially scalable clear growth strategy, with potential to compete successfully in the £10 billion+ clinical diagnostics market in UK and Europe.
· Specialist business model based on proprietary products addressing major areas of significant global impact on health, particularly cancer and infectious diseases.
· Building a portfolio of unique, ‘best in class’, validated diagnostic products and services for the identification of genetic risk, early disease detection and characterisation.
· Early revenues and market access via exclusive distribution partnerships with Caris Life Sciences and with Curesponse Ltd.
· Strong product pipeline via collaboration with Thermo Fisher based on in-licensed intellectual property from Oxford and Cambridge Universities and others.
· Pioneering multiplex ‘point of care’ test platform, providing quantitative data on multiple biomarkers, with digital reporting via mobile device, for sepsis and prostate cancers in development.
About EDX Medical
EDX Medical develops, validates and commercialises innovative digital diagnostic products and services, generating valuable biological insights that enable cost effective and timely delivery of personalised treatment for cancer, heart disease and infectious diseases.
By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to improve cost effectively the detection and characterisation of disease. The Directors believe that early disease detection and biologically-based personal treatment is the most impactful way of improving patient outcomes and survival whilst lowering the cost of healthcare globally. EDX focusses on two areas of greatest global health and economic impact – cancer and infectious diseases.
EDX Medical provides healthcare professionals, providers, payors and patients with access to a portfolio of clinical diagnostic products and services that the Directors believe represent leading technologies. The Company operates a molecular biology and diagnostics laboratory in Cambridge, UK, providing testing services accredited to ISO 15189(2022) by the United Kingdom Accreditation Service (UKAS) and has strategic product and technology partnerships with organisations such as Thermo Fisher EMEA Ltd, a recognised world leader in supplying life sciences solutions.
In order to compete successfully in the clinical diagnostics sector, EDX Medical has established core competencies in the identification, development and validation of tests and associated secure data analytics and reporting to meet the latest in-vitro diagnostics regulatory standards in the UK and Europe. The Board believes that these skills and technical expertise, combined with marketing and distribution capabilities make EDX Medical a strong partner for collaborators.
EDX Medical provides both ‘laboratory assays’ and ‘point of care’ testing – two major segments of the growing global clinical diagnostics market. Both product lines are considered to be capable of addressing large global public and private sector markets for improved healthcare testing.
The laboratory assay portfolio includes market-ready advanced cancer tests from world-leading partners under exclusive distribution arrangements contributing initial revenues, alongside a growing number of products developed by EDX Medical in partnership with strategic partners including Thermo Fisher EMEA. EDX Medical is initially providing these assay services from its own laboratory while conducting product validation in the UK. It is intended that the optimised assays will then be made into product kits which will be validated and submitted for CE-IVDR regulatory approval, for sale to laboratories in the public and private healthcare sector across Europe. The Directors believe this is an attractive and highly scalable business model.
The ‘point of care’ (PoC) test range is based on a patent-pending multiplex test platform which provides highly sensitive and quantitative data for multiple key biomarkers from a handheld 20-minute test device. Secure data analytics and reporting is delivered to a designated mobile device. Initial applications currently in development include PoC tests for sepsis and prostate cancer.
Professor Sir Chris Evans, OBE, founder and chief scientific officer of EDX Medical, commented: “We have a vision to build a company that develops and brings to market only the very best diagnostic tests that are game changing and life-saving for people. I’m delighted we have made really strong progress so far. Our admission to AIM is a clear reflection of how far we have come, staying true to our vision. We have enjoyed tremendous ongoing support from our investors and believe that moving to AIM will create further opportunities for investors in the company.”
