RHS Business Update, July 2017
Jul 11, 2017 -
- RHS introduces new product PG-Seq™ at ESHRE in Geneva
- Repromed and RHS co-development project
- Opportunity for increased EmbryoCellect® sales following Illumina product decision
- RHS continues quarterly revenue growth trend
Adelaide, 10 July 2017: RHS Limited (ASX: RHS) (“RHS” or “the Company”) is pleased to announce that the Company introduced a new product named PG-Seq™ at the European Society for Human Reproduction and Embryology (ESHRE) meeting held in Geneva this week. PG-Seq™ is a complete Pre-implantation Genetic Screening (PGS) solution using Next Generation Sequencing (NGS) that includes RHS’ DOPlify™ whole genome amplification, NGS library preparation reagents and software for data analysis. RHS is releasing validation data obtained from 197 samples using an Illumina MiSeq sequencing platform confirming accuracy for the detection of aneuploidy. PG-Seq™ enables high-throughput PGS analysis of twice as many samples as the Illumina PGS product VeriSeq (48 compared to 24) and can be combined with RHS’ Target Sequence Enrichment for PGS and single gene disorder detection (Pre-implantation Genetic Diagnosis or PGD).
The Company’s co-development project with Repromed (part of the Monash IVF Group) on non-invasive PGS was announced at the RHS AGM on the 26th May 2017, in Company presentations by the Chairman and CEO. This non-invasive approach to embryo screening has the potential to improve IVF outcomes by making PGS more accessible for patients. A media release between Repromed and RHS in late June provided details on the co-development project, which can be found attached and also via the RHS website by the following link: http://www.rhsc.com.au/news. It is anticipated that an update on the co-development project and trial will occur around the time of the annual meeting of the American Society for Reproductive Medicine (ASRM) to be held in San Antonio in late October 2017.
Illumina have announced that they will no longer supply their microarray products 24Sure and 24Sure Plus from 2018. This has increased interest in RHS’ EmbryoCellect® as users of the Illumina microarray products search for a replacement.
Sales of products and services by RHS for the June quarter were consistent with forecast quarter on quarter growth, with a modest increase in quarterly cash receipts from customers totalling over $65,000. The Company had approximately $2M cash at the end of June and will provide a further business update with the usual financial information accompanying the Appendix 4C later this month.