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The newest company to hit the ASX, Identifai Genetics (ASX:ID1), has seen its shares jump +20% on some $330,000 worth of trades a/a 1.20pm AEDT. The company raised $10M and listed at 20cps.
The company’s underlying value prop is a product called Windrose which is a prenatal screening solution designed to enhance genomic sequencing tech with AI to identify early genetic issues with human fetuses before birth.
The Israeli-Australian company’s main IP was developed at Tel Aviv university and the company is predominantly interested in targeting the US market.
A lot of Israeli tech (or tech-adjacent) companies list on the ASX where it’s simpler for small-cap tech companies to access public markets; by some it’s perceived as a better market to tap first given the levels of competition on the NASDAQ versus the ASX.
Along with Windrose, the company reported on Tuesday it’s got 11 other patent families to develop. As for its US ambitions, Identifai intends to use the IPO funds from ASX investors to proceed its establishment of a US-based laboratory and an upcoming “multicentre clinical validation study.”
Windrose works by taking a blood sample from any mother who is pregnant after 9 weeks and the company sees Windrose as the future of “what prenatal screening could become.” While pregnant, the human body sees fetal DNA enter the bloodstream; notably, Windrose does not require the father to offer any paternal samples.
“For some conditions, earlier identification of a potential genetic finding may provide additional time for genetic counselling, diagnostic investigation and coordination of specialist care before delivery or during the neonatal period,” the company wrote on Tuesday.
The importance of earlier [fetal] information is the time it may give clinicians and families to investigate a finding, obtain specialist advice and prepare an appropriate care plan. We are focused on selected inherited conditions where that additional time could be clinically valuable.
This listing supports the next stage of our work, building the clinical evidence needed to evaluate Windrose in its intended setting and advancing the technology towards clinical use.
Identifai last traded at 24cps.
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