Genetic Signatures (ASX:GSS) wins diagnostic kit contract with Public Health Wales

• Genetic Signatures (GSS) has secured a three-year contract with Public Health Wales, worth up to $1.8 million per annum, with an option to extend for two years
• The contract will see the company supply its EasyScreen diagnostic kits and instruments to seven hospitals across Wales
• EasyScreen molecular PCR tests are able to diagnose infectious diseases more accurately and rapidly than traditional methods
• The company expects demand for the product to pick up as the world return to pre-pandemic conditions
• Shares were trading 2.56 per cent higher today at $1.20 each

Medical diagnostics company Genetic Signatures (GSS) has secured a three-year contract with Public Health Wales, worth up to $1.8 million a year, with an option to extend for two years.

The contract will see the company supply its EasyScreen diagnostic kits and instruments to seven hospitals across Wales.

EasyScreen molecular PCR tests are able to diagnose infectious diseases more accurately and rapidly than traditional methods.

The kits provide a testing solution to be able to detect more than 20 clinically relevant pathogenic bacteria, protozoan and viral agents that can cause gastroenteritis symptoms.

Chief Executive Dr John Melki said demand for its product will grow as the world returns to pre-pandemic conditions.

“Traction is building for non SARS-CoV-2 related business in Europe after considerable effort by the sales teams, despite travel and other restrictions,” he said

“It validates our strategy of targeting high throughput hospital and pathology laboratories and government programs to drive revenue and demonstrate the cost savings, speed and accuracy of our EasyScreen testing platform.”

The company recently joined the BioHub Birmingham for further expansion into Europe, the Middle East, and Africa.

Shares were trading 2.56 per cent higher today at $1.20 at 3:42 pm AEDT.