Oxford and Cambridge, UK – Oxford Gene Technology (OGT), the molecular genetics company, has continued its impressive sales performance and has refocused its business to take advantage of the significant growth potential in the global genomics market. Commercial and financial highlights for the year ended 30 September show the company delivering £14.3m sales revenues on the continuing products business (FY2014: £9.7m, up 47%).

Transformation into a high growth molecular genetics product-based company targeting the global genomics market

New products launched across all core brands; Cytocell® FISH, SureSeq™ NGS and CytoSure™ arrays for cancer and rare disease

Total revenue grew by 12% to £17.1m despite divestments and anticipated fall in royalty income

Continuing business commercial revenue growth up 47% to £14.3m (FY2014: £9.7m)

Commenting on the year’s performance Dr Mike Evans, CEO of OGT, said:

“Through the transfer of our services business earlier in the year, we have successfully completed our evolution into a focused molecular genetics product business, addressing the large and growing genomics market for cancer and rare disease. This strategic focusing has allowed us to accelerate the expansion of our range of world-class products.”

Commercial Highlights

Cytocell®: Fluorescence in situ hybridisation (FISH) probes for detecting gene rearrangements related to inherited genetic disease and cancer.

Successful integration of Cytocell with direct sales channel delivering significant growth in USA

Increasing share of high, double-digit growth FISH market

Expansion of Cytocell FISH probe portfolio with the addition of eight new probes, maintaining OGT’s position as offering the widest range of FISH probes on the market

SureSeq™: Expanding portfolio of NGS library preparation products for the accurate detection of genetic variants.

New targeted panels for myeloid disorders and ovarian cancer, plus newlibrary preparation kit offering significant improvements in the NGS workflow

Sales revenues projected to grow substantially due to R&D investment, market expansion and increased penetration

Strong pipeline of new NGS products in development for 2016 launch

Cytosure™: Broad range of array products for cancer, molecular cytogenetics and reproductive health research.

Solid and wide-ranging customer base fuelled steady growth

First to market with CytoSure Constitutional v3 array, the only array containing the latest content from the Deciphering Developmental Disorders (DDD) study

Strong R&D portfolio including the CytoSure Affirm non-invasive pre-natal test (NIPT) currently in clinical trials

Commenting on the outlook for 2016, Dr Evans added, “Our business is now focussed on an innovative molecular genetics portfolio of FISH, NGS and array products. By investing in R&D to expand our product offering and meet the demand of the growing genomics market, I am confident that our strategy will enable us to further build on our reputation as a leading solution provider in this exciting and high-potential market.”