YOURGENE HEALTH ENABLING SCIENTIFIC ADVANCES
POSITIVELY IMPACT HUMAN HEALTH
ANNUAL REPORT AND ACCOUNTS 2022
CONTENTS
Company Overview
Highlights | 02 |
Strategic Report
At a Glance | 04 |
Investment Case | 06 |
Our Strategy | 08 |
Strategy in Action | 10 |
ESG Approach | 14 |
Companies Act 2006 s172 Statement | 15 |
Chairman's Statement | 16 |
Chief Executive's Report | 18 |
Financial Review | 22 |
Principal Risks and Uncertainties | 24 |
Governance
Board of Directors | 26 |
Corporate Governance Statement | 28 |
Directors' Report | 30 |
Audit and Risk Committee Report | 33 |
Directors' Responsibility Statement | 34 |
Financial Statements
Independent Auditor's Report | 35 |
Consolidated Financial Statements | 39 |
Notes to the Consolidated Financial Statements | 43 |
Company Financial Statements | 70 |
Notes to the Company Financial Statements | 73 |
Glossary | 80 |
Company Information | 81 |
INTRODUCTION
YOURGENE HEALTH
IS A LEADING INTEGRATED TECHNOLOGIES AND SERVICES BUSINESS, ENABLING THE DELIVERY OF GENOMIC MEDICINE
The Group works in partnership with global leaders in DNA technology to advance diagnostic science. Yourgene primarily develops, manufactures, and commercialises simple and accurate molecular diagnostic solutions, for reproductive health, precision medicine and infectious diseases
COMPANY OVERVIEW | STRATEGIC REPORT | GOVERNANCE | FINANCIAL STATEMENTS |
Our molecular diagnostic solutions to enable genomic medicine
Genomic Technologies
In vitro diagnostic products
A range of IVD products for reproductive health, precision medicine and infectious disease screening. These are all CE marked and can be available a research kits for regions that don't require a CE-IVD status. Our kits cover a range of technologies, including next generation sequencing (NGS) for our NIPT portfolio and PCR for the others such as Cystic Fibrosis, DPYD, Male Factor Infertility, SARS CoV-2.
Sample preparation and analysis tools
Yourgene has a range of innovative automated DNA sample preparation platforms, powered by Ranger® Technology, the LightBench®, LightBench® Detect and the Yourgene QS250 ideal for cell-free DNA applications in NIPT and oncology including liquid biopsy. There is also the high throughput version, the NIMBUS Select and the Yourgene SP150 for liquid handling. The company has a growing Bioinformatics and Software portfolio of analysis and workflow tools that work alongside our diagnostic reagent kits across different applications.
Genomic Services
Yourgene Genomic Services
Yourgene Genomic Services harness Yourgene's core capabilities to build a global laboratory service network equipped to be a full lifecycle partner for clinical, research and pharma partners. Offering our global customers, a focused portfolio of deep content, with technologies in PCR, microarray and significant expertise in next generation sequencing across different applications in reproductive health, oncology and precision medicine.
Yourgene Health PLC ANNUAL REPORT AND ACCOUNTS 2022 | 01 |
HIGHLIGHTS
£37.6m
Revenue
105%
Revenue growth
Revenues by Region (£m)
40.0 | |||||
35.0 | 5.6 | ||||
30.0 | 5.5 | ||||
25.0 | |||||
20.0 | |||||
15.0 | 7.4 | 26.5 | |||
10.5 | |||||
10.0 | |||||
5.5 | |||||
5.9 | |||||
5.0 | 3.9 | 4.1 | |||
1.8 | |||||
1.2 | 5.4 | ||||
0.0 | 1.0 | 1.2 | 2.0 | ||
2018 | 2019 | 2020 | 2021 | 2022 | |
UK sales | Europe sales | International sales |
Revenues by Segment (£m)
25.0 | |||||
20.0 | |||||
15.0 | |||||
10.0 | 21.6 | ||||
16.0 | |||||
5.0 | 11.1 | 11.9 | |||
5.5 | 6.4 | ||||
0.0 | Genomic Services | Genomic Technologies | |||
2020 | 2021 | 2022 |
Key financials (£m)
40.0 | |||||||
35.0 | |||||||
30.0 | |||||||
25.0 | |||||||
20.0 | 37.6 | ||||||
15.0 | |||||||
21.4 | |||||||
10.0 | 16.6 | 18.3 | |||||
5.0 | 6.1 | 3.2 | 8.9 | 4.6 | 10.2 1.3 | 11.4 | 3.4 |
0.0 | (2.0) | ||||||
(5.0) | (4.4) | (3.6) | |||||
(10.0) | 2018 | 2019 | 2020 | 2021 | 2022 | ||
Revenue | Gross Pro�t | Adj. EBITDA* | |||||
02 | Yourgene Health PLC ANNUAL REPORT AND ACCOUNTS 2022 |
OPERATIONAL HIGHLIGHTS
- Partnership with MyHealthChecked plc and their partner The Boots Company plc for COVID testing (April 2021)
- National Microbiology Framework awards and contract (April 2021)
- Launch of IONA® Care NIPT service offering (May 2021)
- Distribution partnership for Middle East and Africa with Alliance Global (May 2021)
- Multi-yearlicence and supply agreement with leading US precision medicine company (June 2021)
- Contract award for DPYD testing for NHS Wales (June 2021)
- Second strategic partnership for Ranger Technology (June 2021)
- DHSC contract secured to support COVID-19 surge testing (August 2021)
- Yourgene Genomic Services receive ISO 15189:2012 accreditation (September 2021)
- Ranger Technology presented at Labroots by Labcorp partner (October 2021)
- DPYD screening recommended in Spain (November 2021)
- UKHSA contract award for the provision of the genetic sequencing services (December 2021)
- US partnership with EKF Diagnostics for NIPT and genomic tests (January 2022)
- Opening of new Yourgene Health Canada facilities (January 2022)
- Agreement of new debt facility with Silicon Valley Bank (January 2022)
- Successful CDTA desktop review of Clarigene® SARS CoV-2 test for sale in UK (February 2022)
* Adjusted EBITDA is defined in Note 1, accounting policies
COMPANY OVERVIEW | STRATEGIC REPORT | GOVERNANCE | FINANCIAL STATEMENTS |
Market Growth
This year has seen significant market development and growth in US, and internationally with Ranger® Technology. The US and EMEA markets have opened up with travel now permitted, enabling a return to form for these markets. Ongoing restrictions in many of our Asian markets have limited our ability to travel and grow markets.
YOURGENE GENOMIC SERVICES
- DHSC contract awarded to support COVID-19 PCR winter surge testing - third contract awarded under PHE National Microbiology Framework Agreement
- UKHSA contract awarded for the provision of the genetic sequencing services, predominantly COVID-19
- NIPT and research services recovering as pregnancies rise and research programmes resume
- New partnership with Ambry Genetics to deliver an oncology range of services
- Strategic review initiated for Taiwanese laboratory given ongoing external constraints
- Testing capacity continues to be repurposed towards non- COVID testing
AMERICAS
- Commercial team expansion in US to cover technical services and business development
- Commercial drive in LATAM, with new customers for PCR portfolio, IONA® Nx lab established in Mexico
- Two Ranger® Technology strategic partners are now validated and using the technology in routine clinical testing, one of which is LabCorp)
- New facility opened in Vancouver for Yourgene Health Canada
- Programme with Ambry Genetics and NIPT started
EMEA
- UK and European NIPT customer base fully transitioned to IONA® Nx NIPT workflow
- New strategic commercial appointments to strengthen the team
- Expansion of geographical reach with in-direct distribution channels strengthened in Middle East, Africa and Eastern Europe
- DPYD CE-IVD growth continues with testing implemented in Spain and other European regions
- Successful CTDA desktop review for the sale of Clarigene® SARS-CoV-2 test in the UK
ASIA PACIFIC
- New distribution partners appointed in Japan
- Commercial team strengthened with new appointments in Taiwan and Singapore
- IONA® Nx NIPT installed with Lifestrands in Singapore - partner on accelerator launch on microdeletions
- New facilities for Yourgene Health Taiwan labs
Yourgene Health PLC ANNUAL REPORT AND ACCOUNTS 2022 | 03 |
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Yourgene Health plc published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 06:41:10 UTC.
