OGT announces commercial and financial highlights for FY 2015
Oxford Gene Technology (OGT), the molecular genetics company, has continued its impressive sales performance and has refocused its business to take advantage of the significant growth potential in the global genomics market. Commercial and financial highlights for the year ended 30 September show the company delivering £14.3m sales revenues on the continuing products business (FY2014: £9.7m, up 47%).
- Transformation into a high growth molecular genetics product-based company targeting the global genomics market
- New products launched across all core brands; Cytocell® FISH, SureSeq™ NGS and CytoSure™ arrays for cancer and rare disease
- Total revenue grew by 12% to £17.1m despite divestments and anticipated fall in royalty income
- Continuing business commercial revenue growth up 47% to £14.3m (FY2014: £9.7m)
Commenting on the year’s performance Dr Mike Evans, CEO of OGT, said:
"Through the transfer of our services business earlier in the year, we have successfully completed our evolution into a focused molecular genetics product business, addressing the large and growing genomics market for cancer and rare disease. This strategic focusing has allowed us to accelerate the expansion of our range of world-class products."
Cytocell®: Fluorescence in situ hybridisation (FISH) probes for detecting gene rearrangements related to inherited genetic disease and cancer.
- Successful integration of Cytocell with direct sales channel delivering significant growth in USA
- Increasing share of high, double-digit growth FISH market
- Expansion of Cytocell FISH probe portfolio with the addition of eight new probes, maintaining OGT’s position as offering the widest range of FISH probes on the market
SureSeq™: Expanding portfolio of NGS library preparation products for the accurate detection of genetic variants.
- New targeted panels for myeloid disorders and ovarian cancer, plus new library preparation kit offering significant improvements in the NGS workflow
- Sales revenues projected to grow substantially due to R&D investment, market expansion and increased penetration
- Strong pipeline of new NGS products in development for 2016 launch
Cytosure™: Broad range of array products for cancer, molecular cytogenetics and reproductive health research.
- Solid and wide-ranging customer base fuelled steady growth
- First to market with CytoSure Constitutional v3 array, the only array containing the latest content from the (DDD) study
- Strong R&D portfolio including the CytoSure Affirm non-invasive pre-natal test (NIPT) currently in clinical trials
Commenting on the outlook for 2016, Dr Evans added, “Our business is now focussed on an innovative molecular genetics portfolio of FISH, NGS and array products. By investing in R&D to expand our product offering and meet the demand of the growing genomics market, I am confident that our strategy will enable us to further build on our reputation as a leading solution provider in this exciting and high-potential market.”
For further information, please contact: Emma Shipstone, EVP Marketing
Oxford Gene Technology, Begbroke Science Park, Begbroke Hill, Woodstock Road, Begbroke, Oxfordshire, OX5 1PF, U.K.
Notes for Editors:
About Oxford Gene Technology
Oxford Gene Technology (OGT) provides world-class genetics research solutions to leading clinical and academic research institutions. Founded by Professor Sir Edwin Southern, and with customers in over 60 countries, OGT has a strong reputation and increasing share in the large and growing genomic medicine market. The Company’s Cytocell®, CytoSure™ and SureSeq™ range of fluorescence in situ hybridisation (FISH), microarray and next generation sequencing (NGS) products deliver high-quality genetic analysis, enabling accurate identification and confirmation of the causative variation underlying genetic disease.
For more information, please visit at www.ogt.com.
CytoSure™, SureSeq™ and myProbes®: For Research Use Only; Not for Use in Diagnostic Procedures. Cytocell®: Some products may not be available in the US.