12 June 2012
CARECAPITAL GROUP PLC
("CareCapital" or "the Company")
Agreement with Varigen Technologies
Diagnosis and Treatment of Malignant Diseases Based on Genetic Testing, Initially Targeted at Women's Health Care
CareCapital (AIM: CARE) announces that it has signed a mutually exclusive agreement ("the Agreement") with Varigen Technologies ("Varigen") to use Varigen's expertise in the areas of genetic testing and its application to both the diagnosis and development of personalized medical treatments for patients with malignant diseases. Under the Agreement, the specialist services supplied by Varigen will initially be made available at CareCapital's planned medical centre in Folkestone (Berlin: FKO.BE - news) , dedicated exclusively to women's health. Varigen will be entitled to a share, after deduction of all operating costs, of 30% of revenues derived from the provision of the services, with CareCapital retaining the remainder.
Varigen is a company established by Mark Hoser, an expert in the field of genetic and medical diagnostics. Following the award of a PhD from St Thomas' Hospital in haematology and coagulation diagnostics, Mark subsequently held various management positions with large, international pharmaceutical companies before founding GeneForm Technologies in 2003 to exploit his patents in molecular diagnostics and pharmacogenomics. After a successful trade sale of GeneForm Technologies, he has continued his focus on personalized medicine and rapid, next generation diagnostics as well as genotyping technologies for the prediction of drug efficiency in oncology.
Commenting on the Agreement, Mike Sinclair, CareCapital's CEO, said,"The addition of Mark's expertise via this agreement with Varigen Technologies is exactly on strategy for us as we build and grow our specialist cancer services business. The services developed with Varigen will be first available at our dedicated women's health care facility but can then be rolled out more widely."
Mark Hoser of Varigen, added, "The personalisation of diagnosis and treatment are critical steps in the future of medical care and translate to best care and improved quality of life for the patient. Varigen is excited to contribute to CareCapital's endeavour's in making this a reality."
For further information, please visit http://www.carecapital.co.uk or contact:
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CareCapital Grp plc - Agreement with Varigen Technologies
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