A company that has developed a quick and easy genetic test for cardiovascular disease (CVD) has announced plans to float on AIM.
GENinCode is hoping to raise GBP17mln from the IPO, which should value the business at around GBP42mln.
It is bringing with it a breakthrough in testing for heart disease, the world’s biggest killer with 18mln deaths a year.
Through a simple blood or saliva sample, it can analyse a patient’s medical information and genetic variants of the disease to determine a genetic score that is then used for the assessment of a patient’s cardiovascular risk.
Its SITAB system, software, bioinformatics and algorithmic platform and online cloud-based reporting, is used to process and record test results and genetic information, using algorithms and artificial intelligence, assess a patient’s risk of CVD.
It reports results directly via a web portal to healthcare practitioners, cardiologists and physicians, in a user-friendly, digestible format.