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(Sharecast News) - Pharmacogenetic testing business Genedrive said on Tuesday that its exclusive distribution partner in the Kingdom of Saudi Arabia, iDeal iDea for Medical Equipment Technology, has signed a memorandum of understanding with the Saudi Arabian Ministry of Health.
Genedrive said the scope of the MoU was to pilot its MT-RNR1 ID Kit for potential national implementation under a national initiative called, "Generations Hear".
The MOU was signed by Hatim Najjar, founder and chief executive of iDeal iDea, Dr Abdullah Al-Sohimi, General Director of Specialized Centers at Ministry of Health, and Dr Salem Baharoon, Deputy Minister for Therapeutic Services, Ministry of Health.
Dr Gino Miele, CEO of genedrive plc, said: "We are delighted with the signing of this MOU, which builds further on our commercial traction in Saudi Arabia and aligns perfectly to the long-term Saudi health goals. We are grateful to our valued partners at iDeal iDea for their support and look forward to progressing through pilot phase with the goal of implementation at national level."
As of 0825 GMT, Genedrive shares were up 15.17% at 0.51p.
Reporting by Iain Gilbert at Sharecast.com
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