Bionow Investment Award presented to Premaitha Health

Molecular diagnostics company Premaitha Health which employs DNA analysis technology to develop tests for non-invasive prenatal screening (NIPT), was named by Bionow as its Investment Deal of the Year as for the completion of the Company’s reverse listing on the London Stock Exchange’s AIM.

Presented at the Bionow awards dinner at Mere, Cheshire (Nov) the award recognises the success of the listing which saw Premaitha acquired in a reverse takeover by AIM-quoted ViaLogy for £10.5m on 4 July 2014. The Company then raised £7.2m via a Placing and Open Offer with shares placed at 11p per share. The deal took place at a key point for Premaitha, providing the Company with the resources to complete the commercialisation of its flagship product, the IONA^® test, for launch in early 2015.

Dr Geoff Davison, Chief Executive of Bionow said: “The award of Investment Deal of the Year to Premaitha reflects what has been a highly successful strategic move for the Company. The AIM listing has set Premaitha in good stead as it prepares to launch its first-to-market NIPT product in Europe and for future developments as the Company continues to expand.”

Dr Stephen Little, CEO of Premaitha said: “We are very pleased to receive this award. It recognises both the value that we saw in the deal and the potential for our first-in-class non-invasive test for Down’s syndrome. The reverse listing has enabled us to ideally position Premaitha for the launch of the IONA^® test. We now have a world-class commercial team in place, the facilities, and the expertise to ensure that the benefits of the test can be made available to any pregnant woman who needs it.”