OSLO, NORWAY – 21 December 2021: 2021 has been an eventful year for Genetic Analysis (“GA” or “the Company”), in which the Company made strong progress in a market that is developing both fast and positively. The past year has been filled with important milestones like the signing of a new high-volume lab in Europe, oversubscribed IPO, successful listing at Spotlight Stock Market and the receival of a research grant of NOK 16 million to develop a new IBD test. GA has now entered an exciting new phase of its commercial journey as a listed company.
CEO Ronny Hermansen comments:
“The global market is very active, and we recognize three main global trends in the growing microbiome space today; The clinical research with microbiome as an endpoint is accelerating, pharma companies are investing more and more in microbiome targeted drug developments, and the gut microbiome testing market is growing both in the clinical and consumer segments. These three segments are all very interesting and we believe that the GA-map platform is an excellent solution to serve these with microbiome analysis. We are focused on accelerating these segments and tapping into the pharma and consumer opportunities which we believe will build long term value for both GA and our shareholders.
Our priorities in H2-2021 have been to promote the only standardized diagnostic offering in the Microbiome segment (the GA-map) to labs and clinical researchers in academia and pharma, close more strategic important customers, and prepare for geographical expansion outside Europe and the US. I’m glad to communicate that GA is making good progress with these projects.
- A key objective for GA in H2-2021 was to start commercial sales to the German lab and prepare the lab to launch their GA-map microbiome offering before Christmas. GA has successfully installed the GA-map platform in their lab, tuned the reporting software, trained their operators, and sold kits to the lab. The lab is on track for early 2022 product launch.
- Another important objective for GA in H2-2021 was to prepare for geographical expansion. We have made good progress in our expansion towards major markets, and we expect to inform more about this in H1-2022.
- We are noticing that our GA-map system has attracted strong interest within new segments like the pharma industry and the consumer market. We are working on several promising leads with companies within several disease areas and expect to expand on these in 2022.
- GA has been actively pursuing leads for a second high volume lab in the US. We are in several discussions in the US market and expect to receive positive results in 2022.
The ongoing pandemic makes it more difficult to have full traction on all our objectives, but the underlying business progress is strong, and we expect the positive progress to continue in 2022. We are already increasing our digital marketing activities in order to stay ahead and minimize the potential negative impact that the pandemic and further lockdowns could have on generating new business. We are confident to say that we are in good traction on achieving our main objectives communicated to the market in connection with the IPO three months ago.
2021 has been a very active year within the research community and more and more clinical evidence is suggesting that peoples’ gut microbiome has a key role in good health and better disease management. We strongly believe that microbiome profiling will be a game changer in the future for modern medicine.
GA stands well positioned in this fast-developing market and we look forward to continuing our work in 2022 to build more momentum supporting our mission to become a leading diagnostic company in the world within the microbiome field. We thank all our investors and employees for a great 2021 and are excited to deliver more good news in 2022.
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