Genomtec S.A. has expressed its intention to seek a transfer of the Company’s listing from the alternative stock exchange of NewConnect to the main market of the Warsaw Stock Exchange (WSE). Accordingly, the Board of Directors has convened an Extraordinary General Meeting for September 13 this year, for Genomtec shareholders to pass a resolution authorizing the Board of Directors to carry out the necessary actions to transfer the listing of the Company’s shares. The listing on WSE is not planned to come with new issue of shares. The main objective of the Board is to access a larger group of long-term investors, including international ones.
–Transferring Genomtec shares to trade on the main market of the WSE will increase our recognition among major Polish and international investors, including those that are not investing on NewConnect market. Our goal is to enable us to build a stable shareholder structure, which will allow us to truly reflect the value of Genomtec and its ground-breaking technology. Additionally, gaining more long-term investors will be a significant support in building the Company’s strategy. It has always been the goal of the Management Board to increase the company’s prestige for investors and this decision allows us to do that while focusing on our strategy for further growth – said Miron Tokarski, co-founder and CEO of Genomtec.
The Company’s flagship solution Genomtec ID, a mobile point of care system for genetic diagnostics is entering its final phases of development. According to the presented schedule, Genomtec ID will enter the phase of benchmarking and clinical evaluation of the devices in the fourth quarter of this year.
During the second quarter of this year, Genomtec focused on adapting the Genomtec ID prototype to the pre-production version.
In month of May, Genomtec also received patent protection from the Polish Patent Office for a set of primers to duplicate the nucleotide sequence of Borrelia burgdorferi – the bacterium that causes Lyme disease. The patent also covers a method of detecting Borrelia burgdorferi, a method for diagnosing Lyme disease and a kit for diagnosing Lyme disease developed by the Genomtec’s scientific team. To date, Genomtec has already been granted 3 core patents (one in the US and two in Poland) and has currently filed more than 20 patent applications with Patent offices in Europe, China, Japan, Brazil and Canada. This core patent covers Genomtec’s industry-first approach of diagnostic systems using contactless heating technology.
Genomtec has recently also received ISO 13485 certification which is an international compliance standard which verifies that a medical device manufacturer complies with the appropriate regulatory quality system requirements, and it certifies that Genomtec has the appropriate controls in place to ensure that the IVD device developed and manufactured for the detection of predefined biological pathogens can be considered safe and effective.