NextGen Group PLC
23 April 2008
23 April 2008
NEXTGEN GROUP PLC
Outcome of strategic review: to focus on biomarker testing services
NextGen Group plc, (AIM: NGG, 'the Group', 'NextGen'), a provider of biomarker
testing services, announces the outcome to its strategic review, which was
initiated by the new Chief Executive, Mike Pisano, in Q4 2007.
The Board has identified that the key opportunities for NextGen's business are
in biomarker services for its pharmaceutical and biotechnology customers. In
November 2007 NextGen expanded its service portfolio to include biomarker
testing, discovery and assay development. Already the Group is making good
progress with its pharmaceutical and biotechnology customers with projects in
therapeutic areas such as oncology and Alzheimer's disease nearing delivery.
The Board now intends to focus all of NextGen's resources on growing the
biomarker service business to exploit the market, which is predicted to grow to
greater than $21bn in the next five years, and the pharmaceutical industry's
trend towards outsourcing research. The existing U.S-based biomarker team will
be strengthened with the addition of key personnel and operational
infrastructure.
Consequently the Group intends to either divest or wind down its software and
instrumentation UK-based businesses and its protein production fee for service
business unit over the next six months. The Group will move its headquarters to
the USA and will change its reporting currency to US dollar effective 1 July
2008.
The Group expects to publish its results for the year to 31 December 2007 during
the week beginning 12 May 2008.
Enquiries:
NextGen www.nextgensciences.com
Mike Pisano, Chief Executive +1 734 973 7914
Seymour Pierce
Nicola Marrin/Jonathan Wright +44 20 7107 8018
College Hill
Lorna Cuddon/Adrian Duffield +44 20 7457 2020
Notes to Editors
NextGen
NextGen Group PLC is a provider of biomarker services for pharmaceutical and
biotech companies globally. Using advanced techniques, such as Multiple Reaction
Monitoring (MRM) mass spectrometry analysis, the Company is developing a
portfolio of robust assays for testing clinical samples for drug safety and
efficacy, and the development of personalised treatment for patients.
NextGen's range of services, which include biomarker testing, discovery and
assay development, are employed by its customers as a key part of the
biomarker-based drug and diagnostic development process.
Biomarkers
A biomarker is a substance used as an indicator of a biologic state. A biomarker
can be measured from a clinical sample, such as blood or urine, and evaluated as
an indicator of normal biologic processes, pathogenic processes, or
pharmacologic responses to a therapeutic intervention.
The pharmaceutical industry's interest in biomarkers is increasing as they can
be used not only for diagnosis but also for understanding the mechanism of the
disease and development of therapeutics. Biomarkers have been shown to play a
key role in drug discovery and development, particularly in therapeutic areas
including cancer, cardiovascular diseases and disorders of the central nervous
system. It is believed that biomarkers will lead the move towards personalised
medicine.
Assay Development
An assay is a procedure where a property or concentration of an analyte, such as
a biomarker, is measured. The development of rapid, and reproducible methods for
testing biomarkers is becoming increasingly important for clinical diagnosis.
NextGen uses advanced analysis techniques to develop robust, high-throughput and
clinically relevant assays for quantification of biomarkers. These assays are
optimised to enable rapid monitoring of the biomarker of interest from a range
of samples including fluids and tissues.
This information is provided by RNS
The company news service from the London Stock Exchange