OXFORD, England, November 22, 2016 /PRNewswire/ --
Highly integrated molecular genetics portfoliodelivers significant revenue growth and sustainableprofit
Oxford Gene Technology (OGT), The Molecular Genetics Company has announced continued strong sales of its highly integrated molecular genetics product portfolio, delivering sustainable, profitable growth. Commercial and financial highlights for the year ended 30 September show the company delivering product sales of £18.4m, up 29% on FY 2015.
OGT's impressive financial performance validates the company's strategy of developing innovative, high-growth products for molecular genetics. Dr Mike Evans, CEO of OGT, explained;
"The strategic decisions we have made over the last few years have reshaped the company to create a streamlined and profitable business that is fully focused on the development of innovative products for molecular genetics. Focussing on our integrated portfolio of molecular genetics products has driven strong sales growth and a significant increase in profits from commercial activities."
Cytocell®:Fluorescence in situ hybridisation (FISH) probes for detecting gene rearrangements related to inherited genetic disease and cancer outstrip market growth
Expanding portfolio in both cancer and rare disease with new custom panel content and disease-focused panels near launch and in development
Looking forward to 2017, Dr Evans added, "Our business is now focused on sustainable, profitable growth and our strategy moving forward is to further target the growing molecular medicine market. As a part of this approach we will continue to develop and expand our popular customisation programmes - Cytocell myProbes®, SureSeq myPanel and customisable CytoSure array content - which enable us to be truly customer responsive and clearly sets OGT apart from the competition."
CytoSure™ and SureSeq™: For Research Use Only; Not for Use in Diagnostic Procedures.Cytocell®: Some products may not be available inyour region.