Pacific Edge [NZX: PEB], the non-invasive bladder cancer test developer, has launched its second cancer test in New Zealand and flags a US launch early next year.
The Dunedin-based company launched Cxbladder Triage in New Zealand, its second commercialised cancer diagnostic test which sits alongside its first product, Cxbladder Detect, it said in a statement. The product seeks to screen the majority of patients to potentially avoid more intensive testing and care.
Pacific Edge will launch Triage in the US early next year, and will undertake a 2,000 patient evaluation at the Southern California Permanente Medical Group, which is part of the Kaiser Permanente, one of the largest healthcare providers in the US, it said.
The company aims to develop a range of products to meet the specific needs for the detection and management of bladder cancer, growing annual revenue to $100 million in the coming years. Much of that growth is expected to come from the US, with its non-invasive bladder cancer test, Cxbladder Detect, where it is securing healthcare provider trials. In New Zealand it provides the test through district health boards.
"The launch of Cxbladder Triage takes us a step closer to our vision of a 'one-stop-shop' for bladder cancer detection and management," said chief executive David Darling. "Cxbladder Triage is the first of its kind in this market, combining known bladder cancer risk factors with molecular diagnostics to rule out bladder cancer with confidence."
Last month, Pacific Edge said the European Patent Office granted a patent for the company's colorectal cancer prognostic technology, which is in the late stages of development and has already been patented in Japan.
Shares of Pacific Edge rose 3.5 percent to 88 cents, and have halved from their February peak of $1.76.
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