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ListaOB Match
Gentian Diagnostics är ett norskt bolag som utvecklar olika produkter inom hälsovård. Exempel är diagnostiska test med målet att utveckla och effektivisera diagnostisk behandling, vilket innefattar behandling utav cancer och hjärt- och kärlsjukdomar. En stor del av verksamheten innefattar FoU utveckling. Bolaget grundades 1998 och har sitt huvudkontor i Moss.
2022-04-20 14:10:00
Moss, 20 April 2022

Gentian Diagnostics ASA, a fast-growing developer and manufacturer of innovative
diagnostic solutions for improved clinical decision making, has entered into a
distribution agreement for its Cystatin C Immunoassay. The agreement is with one
of the world's largest global diagnostics companies and covers the United
States, a key growth market for Cystatin C.

Gentian's commercial strategy is to secure broad roll-out and acceptance of its
products, which requires distribution through the global diagnostics companies.
The distribution agreement for Cystatin C further validates Gentian's ability to
establish such commercial partnerships with global industry leaders and follows
previously announced agreements with other global diagnostics companies.

Cystatin C supports early detection of reduced kidney function, which
contributes to preventing severe kidney failure. The immunoassay can be adapted
to all major clinical chemistry analysers.

"This agreement is an important milestone for Gentian, as it makes our Cystatin
C assay readily available to a larger patient population. Together, Gentian and
our new partner will facilitate the adoption of the recommendations issued by
the American Society of Nephrology and the National Kidney Foundation," says
Gentian Diagnostics CEO Hilja Ibert.

Revenue from the Gentian Cystatin C immunoassay increased by 41% in 2021 vs
2020. The immunoassay is one of four established products, which combined is
expected to contribute with 20%+ annual revenue growth over the coming 4 to 6
years. By comparison, Gentian delivered 27% revenue growth in 2018-2021 and
reached the milestone of NOK 100 million in total revenue in 2021.

The Gentian Cystatin C Immunoassay (CE marked and FDA-510(k) cleared) is an
in-vitro diagnostic (IVD) test for quantitative determination of Cystatin C in
human serum and plasma. Cystatin C has been recognised both as a complimentary
and as an alternative biomarker to creatinine in calculating estimated
glomerular filtration rate (eGFR), a key metric in the clinical assessment of
kidney function.

The increasing demand for Cystatin C comes predominantly from Europe and the US,
where Gentian has established market positions. Going forward, Gentian will
continue to focus its efforts on European and American distribution channels to
further expand the market for Cystatin C and increase Gentian's market share.

For further information, please contact:
Hilja Ibert, CEO
+47 919 05 242 (mobile)

Njaal Kind, CFO and COO
+47 919 06 525 (mobile)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 in the Norwegian Securities Trading Act.

This stock exchange announcement was published by Njaal Kind, CFO at Gentian
Diagnostics ASA, on 20 April 2022 at 14:10 CET.