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Novacyt Announces Further Progress in China
Sep 11 2017 Comments 0
Novacyt announces it has received its largest single order for Primerdesign’s genesig® q16 instruments. The order for over 100 instruments has been placed by a single customer based in China.
As part of the strategic rationale to acquire Primerdesign, Novacyt identified future growth synergies within the business, in particular within the Asia Pacific region. Utilising Novacyt’s existing sales channels, the company has been able to increase the installed base of instruments in Asia Pacific of Primerdesign’s genesig® q16 instrument. This order represents approximately 50% of the total q16 instruments sold since it was launched in early 2015 and is from a single customer, with payment to be provided ahead of delivery of the instruments.
In addition, Novacyt continues to experience strong demand in the Asia Pacific region for its next generation liquid based cytology (LBC) system, NOVAprep®, which further reinforces the company’s decision to expand its commercial activities across the region. As reported by the company on 16 August 2017, the first half of 2017 saw NOVAprep® sales increase by 243% to €346,000 compared with H1 2016 and
specifically in China, NOVAprep® sales increased from €42,000 in the whole of 2016 to over €270,000 during the first half of 2017. Sales momentum in China and the wider Asia Pacific market continues into the second half of 2017.
Based on this initial success, Asia Pacific, in particular China, remains a key growth region for Novacyt and further investment in commercial infrastructure is planned during the second half of 2017. For instance, in addition to its current wholly owned subsidiary in China, the company is evaluating the establishment of another direct sales and marketing subsidiary in a key market of the region and it also continues to evaluate the potential of the Japanese market for its products.
Graham Mullis, Group CEO of Novacyt, commented: “Our recognition of Asia Pacific, in particular China, as a potentially significant growth market and subsequent investment into the region over the last three years has successfully resulted in sustainable growth opportunities for Novacyt’s proprietary products. The establishment of a new partnership with an important distributor in China for the q16 instruments has resulted in this single, material order. With an increasing demand for our recently approved NOVAprep® system, China and the wider Asia Pacific region continues to be a key area of focus for the Group. We look forward to building on our partnerships and remain focused on continuing to expand our geographical reach by targeting our investments across the Asia Pacific region in line with our strategy.”
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