[March 23, 2015]

Population Genetics Announces the Initiation of Operations in the US through its Premises in Cleveland's Health-Tech Corridor

Population Genetics Technologies Ltd (PGT), a leading developer of infectious disease diagnostic tests based on unique proprietary technology that greatly enhances the sensitivity of Next Generation Sequencing (NGS), today announced the initiation of operations in the United States with the establishment of premises in the Baker Electric Building in Cleveland's health-tech corridor. These premises, which will become the hub of its US operations, will be used to support the development and commercialization of PGT's portfolio of advanced diagnostic and testing kits for infectious diseases. Substantial growth in employee numbers at the facility is planned to underpin product commercialization.

NGS, which enables sensitive detection of mutations, is driving a major transformation in infectious disease diagnostics and is rapidly moving into routine clinical practice. Standard sequencing tests for HIV drug resistance only detect a mutation that is present in at least 20% of viruses; NGS alone can detect resistance mutations down to the 1 - 5% level. However, even this level of detection is insufficient for clinical use, as mutations present at lower levels can lead to development of drug resistance. To overcome this obstacle, PGT has developed its revolutionary VeriTag™ technology, which enhances the power of NGS and enables the confident assessment of mutations in pathogen populations at a 0.1% level (1 in 1000 harboring a mutation), providing additional clinical information to guide drug choice and patient care.

PGT is developing and will market a portfolio of VeriTag™ based NGS diagnostic tests for clinical applications in human infectious disease. The diagnostic tests will be FDA/CE regulatory approved kits wit full cloud-based data analysis, data management, and clinical reporting. The initial diagnostic kits will target the HIV and HCV drug resistance monitoring markets, where the VeX™ assays with VeriTag™ technology will confer clear clinical advantages over existing commercial and emerging NGS assays. Subsequent tests will target antimicrobial resistance in healthcare-associated infections to guide therapy more effectively. The company intends to sell these diagnostic kits in established markets, initially in the US, and the opening of the US office represents a first step in this process.

"PGT US is already working closely with experts at Case Western Reserve University, Cleveland, Ohio" said Dr Alan Schafer, Chief Executive Officer of PGT. "The establishment of our US office in Cleveland will firmly establish our presence in the United States, and enable our company to implement and commercialize our products there, supported by technology and assay development activities at our research center in Cambridge UK".

Aram Nerpouni, President and CEO of BioEnterprise commented, "I am delighted to welcome Population Genetics Technologies Inc. to Cleveland. Cleveland is home to a number of world-class clinical and academic institutions, and a deep pool of experienced biomedical talent. The choice of Cleveland for the company's first US office is a clear recognition of our reputation as a hub of healthcare operations. We look forward to working closely with the company to help it achieve its scientific and business goals."

About Population Genetics Ltd

Population Genetics Technologies (PGT) is dedicated to creating cost-effective, accurate, sensitive, rapid and easy-to-use next generation sequencing tests for infectious diseases that will allow health professionals to administer the right antivirals and antibiotics at the right time. Building on its proven scientific and commercial expertise in NGS assay technologies, PGT is developing a portfolio of US and European regulatory approved tests for use in clinical testing laboratories which deliver reports to guide clinical management.

About BioEnterprise

BioEnterprise is a business formation, recruitment, and acceleration effort designed to support the growth of bioscience companies. Located in Cleveland, BioEnterprise provides management counsel and support services to healthcare companies.

The initiative comprises the collective activities of BioEnterprise and its partners' commercialization offices: the Case Office of Technology Transfer, Cleveland Clinic Innovations, University Hospitals Case Medical Center - Center for Clinical Research and Summa Enterprise Group. The combined efforts of these groups has created, recruited, and accelerated more than 170 companies in twelve years.

About The Health-Tech Corridor

The HTC (News - Alert) is a 1,600 acre area connecting Cleveland's downtown core with the cultural hub of University Circle on the City's eastside. Home to over 130 health-tech and high-tech businesses, the goal of the HTC is to establish the region as a prime geographic location for attracting and growing health and technology businesses, while demonstrating that focused community-wide collaboration rooted in market fundamentals can redevelop the urban core.

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