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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move that strengthens the role of pharmacogenomics in healthcare, UK-based Genedrive PLC announced a collaboration agreement with Thermo Fisher Scientific to develop a high-throughput pharmacogenetic test. The news sent Genedrive shares up 8% to 1.4 pence, according to Proactive Investors. The partnership leverages Thermo Fisher's technology to expand Genedrive's point-of-care testing capabilities into high-throughput laboratory testing.
The collaboration comes amid rapid growth in the global pharmacogenomics market, which is projected to grow at a compound annual rate of 8% to reach around $10 billion by 2028, per market estimates. Separately, Thermo Fisher (TMO) closed at $513.03 on June 26, 2026, showing relative stability compared to the small-cap gain. The deal is a strategic step for Genedrive to strengthen its presence in the expanding genetic testing market.
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Sign InGenedrive shares are currently trading at 1.4 pence following the announcement, but investors are awaiting further financial details and the development timeline, as the company has not disclosed the deal's value. The stock may also be influenced by broader biotech sector trends, with risk appetite for small-cap stocks remaining sensitive to wider market moves.