Share trading in Yourgene has been suspended as a £16.7 million takeover by an international diagnostics business goes through.
The Manchester-headquartered MedTech company, listed on the London Stock Exchange’s AIM market, is to join Novacyt UK, a wholly-owned subsidiary of Novacyt.
Novacyt delivers a broad portfolio of in vitro and molecular diagnostic tests – including PCR kits – for a wide range of infectious diseases, enabling faster, more accurate, accessible testing.
Yourgene, which also has bases in Taipei, Singapore, the US and Canada, enables the delivery of genomic medicine, working in partnership with global leaders in DNA technology to advance diagnostic science.
It primarily develops, manufactures and commercialises simple and accurate molecular diagnostic and screening solutions for reproductive health and precision medicine.
Yourgene’s portfolio of in vitro diagnostic products includes non-invasive prenatal tests for Down’s Syndrome and other genetic disorders, Cystic Fibrosis screening tests, invasive rapid aneuploidy tests and DPYD genotyping assays.
The companies partnered in March 2020 to support production of COVID-19 diagnostic tests developed by Primerdesign, Novacyt’s molecular diagnostics division.
Novacyt will pay a £6.5m contingent liability due to Life Technologies Limited, agreed by Yourgene during a corporate and commercial restructure of its relationship with that company in 2019.