Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Primerdesign partners with
VGS Group in France
Commercial agreement includes molecular diagnostics for the growing aquaculture and aquamarine market
Paris, France and Camberley, UK - 17 January 2020 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces its molecular testing division, Primerdesign Ltd ("Primerdesign"), has signed an exclusive commercial agreement with Atothis SARL, part of VGS Invest Holding Sarl Group ("VGS Group"), for the distribution of certain molecular diagnostic products in France for the growing aquaculture and aquamarine markets. France is the second largest aquaculture producer in the EU, with shellfish production alone contributing a total of 155,000 tonnes a year valued at approximately €550 million to the French economy.
The distribution partnership combines the commercial strength of the VGS Group, with Primerdesign's innovative molecular genesig® diagnostic tests and the Company's proprietary q16 instrument. Primerdesign's diagnostic products will be used for the early identification of diseases impacting animal health during food production. The agreement has an initial term of three years and commits VSG to purchase a minimum of €690,000 of Primerdesign products.
The VGS Group, which trades as the Antinea Group, is the largest independent distributor of aquamarine products in France. The Antinea Group was founded in 1991 and has grown significantly during this period and employs over 70 personnel dedicated to the French market.
Valery Perinet, CEO of the VGS Group, commented: "I am delighted to have reached agreement with Novacyt for the aquamarine market in France. After evaluating the extensive Primerdesign product range, we are convinced this partnership will create significant value for both companies in a market which is growing rapidly. My company, with its strong and respected brand and distribution channels, coupled with the innovative and high performing Primerdesign products, should enable us to rapidly penetrate the French market."
Graham Mullis, Group CEO of Novacyt, added: "As the largest independent aquamarine distributor in France, VGS Group is an ideal partner for Novacyt in this growing area. In addition, as a leading aquaculture producer in the EU, France represents a significant market opportunity for Novacyt. This important agreement reinforces our previously identified organic growth strategy, which includes focusing on strategic partners in the animal testing market. We continue to focus on making our extensive range of molecular products available to multiple markets through the appointment of strategic partners in key territories. I look forward to updating the market with additional partnerships as we expand our sales channels."
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Contacts
Novacyt SA
Graham Mullis, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
+44 (0)1276 600081
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
+44 (0)20 3470 0470
FTI Consulting (International)
Victoria Foster Mitchell / Mary Whittow
+44 (0)20 3727 1000
[email protected] / [email protected]
FTI Consulting (France)
Arnaud de Cheffontaines / Cosme Julien Madoni
+33 (0)1 47 03 69 48 / +33 (0)147 03 68 19
[email protected] / [email protected]
About Novacyt Group
The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high-quality assays and reagents worldwide. The Group directly serves microbiology, haematology and serology markets as do its global partners, which include major corporates.
For more information please refer to the website: www.novacyt.com
About VGS Invest Holding Sarl Group
The Antinea Group was founded in 1991 near Montpellier and is owned by VGS Invest Holding Sarl Group. The Group has a turnover of 12 million euros with 70 over employees and consists of several companies, focused on various segments of the French market. The Group has access to a customer portfolio of 2,000 accounts including pet retailers, public aquariums, aquatic fisheries and aqua farms.
For more information please refer to the website: www.groupe-antinea.fr
