Vitrolife expands its Genomics business to the Asia Pacific region

Rhea-AI Summary

Vitrolife AB announces the expansion of its genomic testing kits distribution to the Asia Pacific region (excluding China). This move follows the partnership with Illumina and requires a payment of USD 3 million for expanded rights. The commercial launch of EmbryoMap occurred in Q2 of this year, expected to generate over SEK 50 million in revenue in 2022, positively impacting earnings per share.

Positive

• Expansion of distribution for genomic testing kits to Asia Pacific expected to generate over SEK 50 million in 2022.
• Partnership with Illumina strengthens product offering and market reach.

Negative

• Payment of USD 3 million required for expanded distribution rights may impact liquidity.

GÖTEBORG, Sweden, Nov. 25, 2021 /PRNewswire/ -- Vitrolife AB (publ) today announced that it will be expanding its distribution of genomic testing kits to the Asia Pacific region (excluding China) in accordance with the Illumina partnership agreement announced in October 2018. The expansion of the territory follows the commercial launch of EmbryoMap during Q2 of this year and requires a payment of USD 3 million (approximately SEK 27 million) to Illumina for the expanded rights. EmbryoMap has been developed by Vitrolife for use on Illumina sequencing instruments.

Vitrolife expects the acquired business to add more than SEK 50 million of revenue in 2022 and to have a marginal positive impact on earnings per share.

Gothenburg, November 25, 2021
VITROLIFE AB (publ)
Thomas Axelsson, CEO

CONTACT:

Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Mikael Engblom, CFO, tel 46 31 721 80 14

The information was submitted for publication, through the agency of the contact person set out above, at 4.30 pm CET on November 25, 2021.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vitrolife-ab--publ-/r/vitrolife-expands-its-genomics-business-to-the-asia-pacific-region,c3460997

The following files are available for download:

https://mb.cision.com/Main/1031/3460997/1501816.pdf

Genomics APAC

View original content:https://www.prnewswire.com/news-releases/vitrolife-expands-its-genomics-business-to-the-asia-pacific-region-301432144.html

SOURCE Vitrolife AB (publ)

FAQ

What is the significance of Vitrolife's expansion to the Asia Pacific region?

Vitrolife's expansion to the Asia Pacific aims to increase revenue through the distribution of genomic testing kits, expected to generate over SEK 50 million in 2022.

How much is Vitrolife paying for expanded rights to distribute genomic testing kits?

Vitrolife will pay USD 3 million for expanded distribution rights in the Asia Pacific region as part of its agreement with Illumina.

What impact will the EmbryoMap launch have on Vitrolife's earnings?

The launch of EmbryoMap is expected to have a marginal positive impact on Vitrolife's earnings per share in 2022.

When was the partnership with Illumina announced?

The partnership with Illumina was announced in October 2018.