Oxford cardiovascular disease company GENinCode reports rise in revenues

Oxford cardiovascular disease company report revenue rise

GENinCode Plc, the Oxford-based cardiovascular disease company which floated on the London Stock Exchange’s AIM in July when it raised £17 million, has released its interim results for the six months ended 30 June 2021.

The company revealed its first half revenues have grown to £600,000 from £400,000 last year, from European operations.

Matthew Walls, chief executive officer of GENinCode Plc said: “We have enjoyed a productive year to date with the successful completion of the IPO and a gross £17m fundraise in July 2021, enabling the expansion of our commercial program across our core EU, UK and US markets. We are now delivering the plans set out in our IPO Admission Document focused on preparations for the US launch of Cardio inCode® for cardiovascular disease preventative care.

We are working closely with our US collaborative partner, Eversana, on launch planning and advancing our collaborative discussions with Indiana University and New York Presbyterian – Weill Cornell.  Discussions are ongoing with the FDA for both ‘breakthrough’ status and we are preparing for the submission of our de-novo market authorisation submission for Cardio inCode®. We are commissioning Lipid inCode® testing for hypercholesterolemia with the NHS and expect testing to commence over the coming months. We anticipate continued revenue growth over the second half of this financial year and look forward to advising on further developments.”