New manufacturing facility in Doncaster
08 November 2016
Concepta plc (AIM:CPT), the UK healthcare company targeting the personalised mobile health market with a primary focus on women's fertility, is pleased to announce that it has signed a 10 year lease for its new manufacturing facility in Doncaster, Yorkshire. The addition of this new facility will provide the Company with the necessary capacity and economies of scale as it pushes ahead with the launch of its MyLotus product for unexplained infertility* into China in Q4 2016 and, following CE marking, into the UK and Europe in 2017.
The newly built 6,000sqft premises are at the Bullrush Grove Business Park and will employ 8 full-time staff over time together with ad-hoc temporary staff when needed. The facility will be used to manufacture lateral flow test strips for the Company's MyLotus product. The site has office-space already fitted and the Company is now establishing the manufacturing, warehousing and Quality Control areas. The site will be fully operational in Q1 2017 and has significant capacity for further expansion.
Concepta will situate all of its customer-facing roles at the new Doncaster facility, whilst its recently opened laboratory site in Colworth, Bedfordshire will continue as the Company's primary R&D base.
Erik Henau, CEO says: "We are pleased to have signed the lease on this excellent location for our UK manufacturing operations. Concepta has a commitment to Yorkshire through one of the earliest backers of our business: Finance Yorkshire. The securing of this new facility is essential to the Company's continued growth and it will provide the capacity to support our flagship MyLotus fertility product following its targeted launch in China later this year and across Europe in 2017.
"Additionally, following the recent opening of our state of the art research and development hub in Bedfordshire, the Company is well positioned for new product development in the wider mobile health space and we look forward to updating the market on further exciting developments in due course."
Adam Reynolds, Chairman
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About Concepta Plc:
Concepta plc is a pioneering UK healthcare company that has developed a proprietary platform and products targeted at the personalised mobile health market with a primary focus on women's fertility and specifically unexplained infertility*.
Founded in 2013, Concepta has developed a revolutionary flagship product 'MyLotus' for home self-testing that helps women with unexplained infertility to conceive.
MyLotus is the only consumer product which allows both quantitative and qualitative measurements of measurement of a woman's personal hCG and LH hormone levels in an easy to use home test to facilitate higher conception rates and early diagnosis of any fertility problems. Competitor products currently only allow qualitative measurement and are based on the 'average woman'.
Concepta has a defined route to market for its new 'My Lotus' product with Regulatory approvals for launch in China in place for 2016 and CE-Marking for UK and Europe to follow in 2017 where the revenue potential of the Chinese and EU infertility market is worth c.£600m per annum for the company.
*Unexplained infertility refers to women that have been unable to conceive after 6 months of trying. This highly motivated target group of consumers won't typically be offered medical intervention until 12 months of unsuccessfully trying, with IVF not offered until two years. Research indicates couples start to take positive action ahead of this time and there is little medical support to help them do so.