Yourgene shares up 10% on Covid test news

Shares of Manchester-based molecular diagnostics firm Yourgene Health plc rose about 10% after the firm announced on Monday morning it won a national framework contract award for Covid-19 testing services.

“Yourgene … announces that it has been awarded a Framework Agreement under Public Health England’s (PHE) National Microbiology Framework for Lot 1 (Diagnostic Goods and Services) of the four-lot tender for its Clarigene SARS-CoV-2 assay and Manchester-based COVID testing service,” said the firm.

PHE’s National Microbiology Framework is appointing suppliers to framework agreements for four lots. 

“Lot 1 is the first to be announced and covers the supply of in-vitro diagnostic medical devices and associated services, including for the Company’s Clarigene SARS-CoV-2 PCR assay and the associated clinical laboratory testing services delivered through Yourgene Genomic Services.  

“The term of the Framework Agreement for Lot 1 (and for each subsequent lot, if awarded) is for an initial two years with options to extend by up to a further two years. 

“Lot 1 is a £3bn tender to be satisfied by multiple successful bidders.

Under the National Microbiology Framework, participating public health authorities across the United Kingdom can use call-off contracts to procure goods and testing services from Yourgene under such lots as it is in receipt of a Framework Agreement, but there is no guarantee that such contracts will be forthcoming, nor as to the quantum of any potential call-off contracts may which arise.”

On Monday afternoon, Yourgene further announced that Public Health England confirmed that Yourgene has been successful with its tender under PHE’s National Microbiology Framework for Lot 4 (Clinical Laboratory Diagnostic Testing Services).

Lot 4 is a £15bn Framework to be satisfied over a period of four years by multiple successful bidders, with only 50 companies appointed to this lot,” said Yourgene.

PHE’s National Microbiology Framework is appointing suppliers to framework agreements for four lots.

“Awards under Lot 1 and Lot 4 have been announced and cover the supply of Diagnostics Goods and Services, including Clinical Laboratory Diagnostic Testing Services.

“Yourgene announced earlier today that it had been successful with its tender for Lot 1 (Diagnostic Goods and Services).

Yourgene will be able to offer its Clarigene SARS-CoV-2 PCR assay and associated Manchester-based clinical laboratory testing services under the Framework Agreement.

Whilst the Framework Agreement is not exclusive to Yourgene, or a guarantee of orders, it does allow participating public health authorities across the UK to issue call-off contracts to procure goods and testing services from Yourgene, amongst other providers, going forward.”

Yourgene CEO Lyn Rees, said: “We welcome the opportunity to work with PHE and its sister organisations across the NHS, DHSC and in Wales, Scotland and Northern Ireland to offer our Clarigene SARS-CoV-2 PCR assay, and our accredited lab testing services, to contain Covid-19 in the near-term and to participate in putting in place a robust testing infrastructure post-pandemic.

“Yourgene considers that the successful framework award, for which there was a competitive tender process, lends significant credibility to the Clarigene product and to the Company’s COVID testing services.

“More broadly, we expect the award to support business development outside the scope of this agreement with a growing network of commercial partners, addressing privately funded testing in healthcare and workplace settings.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.