Location: Cambridge, UK
Cambridge, UK, 8 May 2018: Horizon Discovery Group plc (LSE: HZD), a global leader in gene editing and gene modulation technologies, announces its preliminary results for the year ended 31 December 2017.
Highlights (including post period end)
Terry Pizzie, the newly appointed Chief Executive Officer of Horizon Discovery, said: “2017 was a transformational year for the Group with: the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale. These activities have significantly enhanced the Group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders.
“In the first quarter the Group has made a solid start to the year and is trading in line with Board expectations. We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the Group on a path to sustainable and profitable growth. With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”
Ian Gilham, Executive Chairman, added: “Horizon has had a successful 2017 and has established itself as a market leader across the RNAi and CRISPR end-markets, which are expected to grow at a CAGR of approximately 18 percent between 2017 and 2021. Furthermore, given limited direct competition in its core focus areas, the Company expects to accelerate its penetration of multiple fast growing gene modulation and gene editing market segments including engineered in vitro and in vivo disease models, cell based assays and screening, bioproduction and molecular diagnostics, all of which are expected to grow at double-digit percentages in the near term.
“With Terry’s appointment today, Horizon has a strong and highly experienced management team who are ideally positioned to execute Horizon’s growth plan and create value for shareholders.”