OGT Announces Commercial and Financial Highlights for FY 2015
News Dec 12, 2015
Oxford Gene Technology (OGT) has continued its impressive sales performance and has refocused its business to take advantage of the significant growth potential in the global genomics market. Commercial and financial highlights for the year ended 30 September show the company delivering £14.3m sales revenues on the continuing products business (FY2014: £9.7m, up 47%).
Commenting on the year’s performance Dr Mike Evans, CEO of OGT, said: “Through the transfer of our services business earlier in the year, we have successfully completed our evolution into a focused molecular genetics product business, addressing the large and growing genomics market for cancer and rare disease. This strategic focusing has allowed us to accelerate the expansion of our range of world-class products.”
Cytocell®: Fluorescence in situ hybridization (FISH) probes for detecting gene rearrangements related to inherited genetic disease and cancer.
• Successful integration of Cytocell with direct sales channel delivering significant growth in USA
• Increasing share of high, double-digit growth FISH market
• Expansion of Cytocell FISH probe portfolio with the addition of eight new probes, maintaining OGT’s position as offering the widest range of FISH probes on the market
SureSeq™: Expanding portfolio of NGS library preparation products for the accurate detection of genetic variants.
• New targeted panels for myeloid disorders and ovarian cancer, plus new library preparation kit offering significant improvements in the NGS workflow
• Sales revenues projected to grow substantially due to R&D investment, market expansion and increased penetration
• Strong pipeline of new NGS products in development for 2016 launch
Cytosure™: Broad range of array products for cancer, molecular cytogenetics and reproductive health research.
• Solid and wide ranging customer base fuelled steady growth
• First to market with CytoSure Constitutional v3 array, the only array containing the latest content from the Deciphering Developmental Disorders (DDD) study
• Strong R&D portfolio including the CytoSure Affirm non-invasive pre-natal test (NIPT) currently in clinical trials
Commenting on the outlook for 2016, Dr Evans added, “Our business is now focussed on an innovative molecular genetics portfolio of FISH, NGS and array products. By investing in R&D to expand our product offering and meet the demand of the growing genomics market, I am confident that our strategy will enable us to further build on our reputation as a leading solution provider in this exciting and high-potential market.”
As genome editing technologies advance toward clinical therapies, they are raising hopes of a completely new way to treat disease. However, challenges need to be addressed before potential treatments can be widely used in patients. To tackle these challenges, the National Institutes of Health has launched the Somatic Cell Genome Editing program, which has awarded multiple grants including more than $3.6 million to assess the safety of genome editing in human cells and tissues.