OpGen’s Subsidiary Curetis Signs Expansion of R&D Collaboration with FIND

Rhea-AI Summary

OpGen, Inc. (Nasdaq: OPGN) has announced an amendment to its R&D collaboration with FIND, significantly expanding the project's scope. The collaboration, which began in fall 2022, is projected to generate up to €830,000 in potential revenue. This expansion includes three new work packages: an Antimicrobial Stewardship Module, a 'Data everywhere' concept for remote connectivity in low- and middle-income countries, and Next Generation Sequencing strain analysis from several sub-Saharan African countries. The company is optimistic about enhancing solutions to combat infectious diseases through these initiatives.

Positive

• Amendment to R&D collaboration is expected to increase revenue potential to €830,000.
• Expansion includes three new work packages that enhance product development and market reach.

Negative

• None.

• Parties add several deliverables to initial R&D collaboration contract
• Overall potential revenue increased to up to euro 830 thousand

ROCKVILLE, Md., April 05, 2023 (GLOBE NEWSWIRE) -- OpGen, Inc. (Nasdaq: OPGN, “OpGen” or “the Company”), a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease, reported today that it signed an amendment to its research and development (“R&D”) collaboration agreement with FIND, to expand the collaboration which was originally started in fall of 2022.

The work already completed under the collaboration will be expanded by three work packages increasing total project volume to up to € 830 thousand in revenue potential. The added deliverables will address the following topics:

• An Antimicrobial Stewardship Module supporting users with rule-based information to allow making the best treatment choices based on respective hospital’s drug availability;
• A “Data everywhere” concept, investigating hardware and software options for remote connectivity in the specific environments of low- and middle- income countries (LMICs); and
• Next Generation Sequencing (“NGS”) strain analysis including isolates from several sub-Saharan African countries to investigate any potential sequence differences.

Dr. Gerd Luedke, Director Innovation, Technology and IP at OpGen’s German subsidiary Curetis GmbH commented: “As we approach the final milestones from the original first phase of our collaboration agreement, we are excited to expand the scope of our R&D partnership with FIND. We believe these additional steps will help us in the development of a more robust and suitable solution in LMIC countries down the road, a goal we have for the possible next phase of this collaboration under a new agreement.”

Dr. Cecilia Ferreyra, Director, FIND AMR Programme remarked that, “We look forward to seeing and evaluating the final milestone data as well as getting data from these expanded set of milestone deliverables in the coming quarter. It will help our team to better evaluate the potential of Unyvero A30 to help identify blood stream infections in patients admitted to LMIC hospitals.”

About OpGen, Inc. 

OpGen, Inc. (Rockville, Md., U.S.A.) is a precision medicine company harnessing the power of molecular diagnostics and bioinformatics to help combat infectious disease. Along with our subsidiaries, Curetis GmbH and Ares Genetics GmbH, we are developing and commercializing molecular microbiology solutions helping to guide clinicians with more rapid and actionable information about life threatening infections to improve patient outcomes, and decrease the spread of infections caused by multidrug-resistant microorganisms, or MDROs. OpGen’s current product portfolio includes Unyvero, Acuitas AMR Gene Panel, and the ARES Technology Platform including ARESdb, NGS technology and AI-powered bioinformatics solutions for antibiotic response prediction including ARESiss, ARESid, ARESasp, and AREScloud, as well as the Curetis CE-IVD-marked PCR-based SARS-CoV-2 test kit.

For more information, please visit www.opgen.com.

Forward-Looking Statements

This press release includes statements regarding OpGen’s collaboration with FIND. These statements and other statements regarding OpGen’s future plans and goals constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control, and which may cause results to differ materially from expectations. Factors that could cause our results to differ materially from those described include, but are not limited to, the success of our commercialization efforts, our ability to successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product and services offerings, the rate of adoption of our products and services by hospitals and other healthcare providers, the fact that we may not effectively use proceeds from recent financings, the continued impact of COVID-19 on the Company’s operations, financial results, and commercialization efforts as well as on capital markets and general economic conditions, our ability to satisfy debt obligations under our loan with the European Investment Bank, the effect of the military action in Russia and Ukraine on our distributors, collaborators and service providers, our liquidity and working capital requirements, the effect on our business of existing and new regulatory requirements, our ability to realize any anticipated benefits from the reverse stock split, including maintaining its listing on the Nasdaq Capital Market and attracting new investors, and other economic and competitive factors. For a discussion of the most significant risks and uncertainties associated with OpGen's business, please review our filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this press release and speak only as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

OpGen:
Oliver Schacht
President and CEO
InvestorRelations@opgen.com

OpGen Investor & Press Contact:
Alyssa Factor
Edison Group
afactor@edisongroup.com

FAQ

What is the significance of OpGen's amendment to its collaboration with FIND on April 5, 2023?

The amendment significantly expands the scope of the collaboration, increasing potential revenue to €830,000 and adding new work packages.

What new deliverables are included in OpGen's collaboration with FIND?

The new deliverables include an Antimicrobial Stewardship Module, a 'Data everywhere' concept for remote connectivity, and Next Generation Sequencing strain analysis.

How does the expanded collaboration with FIND impact OpGen's business prospects?

The expansion is expected to enhance OpGen's capability to develop solutions for infectious diseases, potentially boosting revenue and market presence.

What is the financial outlook following OpGen's R&D collaboration announcement?

OpGen anticipates a revenue potential of up to €830,000 from the expanded project with FIND.