New laboratory opening
21 September 2016
Concepta plc (AIM:CPT), the UK healthcare company targeting the personalised mobile health market with a primary focus on women's fertility, announces that it has moved its UK laboratory operations to a new site, at Colworth Park in Bedfordshire, doubling the size of its operational headquarters. This new laboratory opening is in line with the Company's strategy of increasing its operational capacity and economies of scale as it moves towards launching its My Lotus product for unexplained infertility* into China in H2 2016 and, following CE marking, into the UK and Europe in 2017.
The state of the art laboratory will house four employees in R&D and another two employees in Quality Assurance. In addition, a separate area for assembly can accommodate a further ten people producing testing strips for Concepta's 'MyLotus' meter. Aside from manufacture, assembly and testing, the lab will primarily be used as a research and development hub for My Lotus product enhancements and new product development.
Commenting on the opening of the new facility, Erik Henau, Concepta CEO said: "Following our highly successful AIM listing in July 2016, this new laboratory is a key part of the Company's growth strategy and extends both its capacity and capabilities as we begin the process of launching our proprietary product into China prior to a European launch in 2017. Concepta's research team will be working in the new lab effective immediately to accelerate new product development, both within our core business area of fertility as well as other areas in the wider mobile health space. We look forward to updating the market on these exciting developments in due course."
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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.