EXCLUSIVE: VolitionRX CEO Talks Trial Updates, Time Until Market
VolitionRX Ltd (NYSE: VNRX) stirred up some interest in the biotech community with blood tests that can predict colon cancer. What this means is that patients may no longer have to subject themselves to an invasive colonoscopy.
In an exclusive interview with Benzinga, CEO Cameron Reynolds provided updates on the company’s progress. September trials totaling 4,800 detected, “over 80–81 percent of colorectal cancers.”
The company is again generating interest with similar tests that can spot pancreatic and lung cancer. “In all those trials, we detected over 90 percent of the cancers in pancreatic and lung cancer,” stated Reynolds. “It's been an incredibly good few months for our data.”
Data on pancreatic and lung cancer have been released throughout October and November.
Time to Market
Reynolds explained that VolitionRX has been approved to start selling in Europe and hopes “to launch the second half of next year in the EU.” Reynolds continued, “We hope to be able to look at the United States in the next 12 months.”
Regarding the ramp of sales, Reynolds stated that he doesn’t expect to “suddenly have 10 million units to sell in the first month,” but that any sales are meaningful due to the company’s conservative burn rate.
Understanding the Technology
VolitionRX's system works by collecting a blood sample from a patient, which would be analyzed for cancer specific nucleosome patterns and structures. Nucleosomes are more reliable in detecting cancer than looking for a specific gene because of the massive number of them. For instance, there are 500,000 nucleosomes in every chromosome.
There are several diagnostic tests aimed at detecting cancer in the bloodstream, “But the nucleosomes are quite different,” Reynolds explained. The company has recently been granted several patents for the detection of nucleosomes.
Shares of VolitionRX gained 7.3 percent over the past 12 months versus a 17.7 percent gain on the small-cap healthcare ETF (PowerShares S&P SmallCap Hlth Cr Ptflo (NASDAQ: PSCH)).
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