Commercialisation agreement with Thermo Fisher

Commercial agreement for exclusive license to Verici Dx Assay Technology for further development of a pre-transplant diagnostic, including non-exclusive access to Verici Dx's urine biorepository.

Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces that it has signed an exclusive global licensing agreement with Thermo Fisher Scientific, the world leader in serving science, to further develop an assay for pre-transplant prognostic testing for risk of early kidney rejection.

The exclusive license grants Thermo Fisher the rights to develop an assay for pre-transplant risk assessment for further development as a Laboratory Developed Test ("LDT") in its CLIA laboratory in the U.S., as well as the sole right, but not obligation, to manufacture, distribute and sell the assay worldwide. The license agreement includes an upfront payment to the Company, along with a number of further payments conditional upon operational deliverables related to technology transfer and related publications.

In addition, Verici Dx has granted Thermo Fisher a non-exclusive license for access to a portion of the Company's urine samples, demonstrating the additional value in the Company's data and sample assets for research.

Under the above arrangements, payment events for Verici Dx over the next 12 months are expected to total approximately $5 million with a further payment thereafter, in addition to ongoing royalties on tests sold.

Commenting on the transaction, Sara Barrington, CEO of Verici Dx said: "We are incredibly proud of our advancements in transforming potential outcomes for kidney transplant patients. By collaborating with Thermo Fisher, we believe we can accelerate the development of our technology, helping ensure that it reaches those who need it the most."

Nicole Brockway, President, Transplant Diagnostics, Thermo Fisher Scientific, said: "There is a significant need for effective tests that can identify the risk of transplant rejection early to help inform treatment decisions. Our hope is that this licensing agreement will allow us to develop a new prognostic assay that will expand and strengthen our portfolio of transplant testing solutions, demonstrating our commitment to enabling clinicians and improving the lives of patients throughout the pre- and post-transplant journey."