HEALTH: YOURGENE IS FIGHTING THE CRISIS

YOURGENE Health is making a direct contribution to the fight against coronavirus. Last week, the diagnostics specialist revealed it is helping medical group Novacyt to make Covid-19 testing kits.

The tests produce results within just two hours so hospitals can quickly find out whether suspected sufferers and medical staff have the virus.

Demand is racheting up by the day from countries around the world, including the US where the authorities gave the tests emergency authorisation last week. Tens of millions of tests are expected to be sold over the next few months.

Novacyt cannot satisfy all these anxious customers alone so it has turned to just two other businesses to help, one of which is Manchester-based Yourgene.

The decision is a ringing endorsement of Yourgene’s facilities and its ability to produce cutting- edge diagnostic materials. The company will be building up production in the next few weeks and may play a larger part in the process over time.

Midas recommended Yourgene at the beginning of the year when the stock was 13.75p. It is one of the few shares to have risen since, to 14.50p, an increase of more than 5 per cent. The group usually focuses on tests for Down’s Syndrome, Cystic Fibrosis and male infertility but it is diverting resources to help in the fight against Covid-19.

MIDAS VERDICT: Medical companies around the world are working to curb the spread of coronavirus and Yourgene, a small AIM business, is at the heart of these efforts. The business is at a pioneer in the sophisticated medical diagnostics industry and the shares should continue to gain ground.