OGT’s molecular genetics business delivers 54% growth in commercial revenues to £11.9m
Growth attributed to acquisition of Cytocell Ltd coupled with robust performance of CytoSure microarray products and Genefficiency next generation sequencing services
Oxford and Cambridge, UK – 2 December 2014 – Following its successful acquisition and integration of Cytocell Ltd, Oxford Gene Technology (OGT), the molecular genetics company, has provided an operational and financial update for the company’s financial year ended 30 September 2014.
Commenting on OGT’s performance and the outlook for 2015, Dr Mike Evans, CEO of OGT said:
“We have made some important operational decisions this year to help achieve our ambition to become a global leader in molecular genetics.
“A key component to our growth was the acquisition of Cytocell. As well as being financially accretive to the business, it has expanded the portfolio of products available to our dedicated sales force, allowing us to offer our customers the complete solution for molecular genetics research.
“Our R&D team has made significant progress on a number of high-value projects addressing the escalating NIPT and NGS markets, which will further fuel OGT’s growth.
“We now have an international infrastructure supporting sales in over 60 countries, a focused portfolio and strong development pipeline to take advantage of the continued high growth of the molecular genetics market. We expect to see continued momentum in the next financial year and beyond, building further value to our customers and the business.”
Notes for Editors:
About Oxford Gene Technology www.ogt.com
Oxford Gene Technology (OGT) provides world-class genetics research solutions to leading clinical and academic research institutions. Founded by Professor Sir Edwin Southern, and with customers in over 60 countries, OGT has a strong reputation and increasing share in the large and growing genomic medicine market. The Company’s Cytocell®, CytoSure™, SureSeq™ and Genefficiency™ range of fluorescence in situ hybridisation (FISH), microarray and next generation sequencing (NGS) products and services deliver high-quality genetic analysis, enabling accurate identification and confirmation of the causative variation underlying genetic disease.
CytoSure™ SureSeq™ and Genefficiency™ NGS browser/report: For Research Use Only; Not for Use in Diagnostic Procedures
Some products may not be available in the US.
Issued for and on behalf of Oxford Gene Technology by Instinctif Partners.
For more information please contact OGT@instinctif.com
Sue CharlesManaging Partner