Yourgene shares rise on Covid test news

Shares of Manchester-based molecular diagnostics firm Yourgene Health plc rose about 5% on Thursday after it announced that Yourgene Genomic Services has been added to the UK Government’s approved COVID-19 private testing providers list for the Test to Release for International Travel scheme and also for general coronavirus testing.

Yourgene said it “has also conducted in silico analysis studies into the effect of the new virus strain” which “suggests” that the performance of its test will be unaffected.

The Test to Release scheme is a UK Government backed programme, designed to reduce quarantine periods for travellers arriving in the UK,” said Yourgene.

“The group is waiting for the government website to be updated to reflect this in due course.

“Through the Test to Release scheme, passengers have the opportunity to pay for a COVID-19 test through the list of approved private providers, to find out if they are able to reduce the self-isolation period after international travel.

“Yourgene Genomic Services has the full COVID-19 testing service offering required to meet the Department of Health & Social Care’s 15 minimum standards.

“Yourgene will go live with the Test to Release scheme in early January 2021 but the general coronavirus testing offering is already live.”

Yourgene Health CEO Lyn Rees said: “We are extremely pleased to be an approved private provider for the Test to Release scheme to support international travel to the UK, as well as more general UK COVID-19 testing.

“This approval confirms the high standards and service levels we have been setting for our COVID-19 testing partners and in our wider Genomic Services laboratory offering.  

“We continue to monitor the evolving situation in order to remain at the forefront of fighting the pandemic, and to expand our capabilities in a way that accelerates our wider business strategy.”