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An Indiana life sciences company looks at metabolites as snapshots to diagnose and monitor cancer. The idea is that cancerous cells have distinct differences in metabolism than healthy cells. Matrix-Bio, a startup with corporate headquarters in Ft. Wayne, Ind., is seeking $750,000 to validate its colon cancer monitoring test, which is part of its metabolite profiling platform.
With this test, the company claims to improve upon the current standard of care–CEA tests–with more accurate and earlier results.
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“What we’re measuring is basically the metabolic signature of cancer,” CEO Eric Beier said. For example, the company looks the individual concentrations of nine metabolites for breast cancer recurrence, puts that information through a proprietary algorithm and comes up with a score. That score shows whether the patient’s cells are cancerous or not.
If the company is right, metabolomic testing could eventually be used to help create personalized treatments for cancer patients. Currently, the company is focusing on tests for breast and colon cancer diagnostic portfolios.
The technology is spunout from Purdue University and has been awarded funding from the NIH and the Department of Defense, Beier said.
“We’ve really been mindful of trying to keep our monthly cashburn as low as possible and really outsource the best-in-class we can afford,” Beier said. Keeping the company virtual, getting the university sponsored-tech and having an active board has allowed the company to run smart and lean. Beier said he was brought in as CEO when the company made a licensing agreement with Quest Diagnostics in 2013. Quest licensed the company’s VeraMarker breast cancer recurrence test. Commercial launch could come as early as 2015, according to Matrix-Bio’s website.
In the long run, metabolomics could mean diagnostics and early detection of certain cancers. For now, though, the company is placing its emphasis on monitoring, in part due to the expensive and rigorous PMA pathways for detection tests. Matrix-Bio is following a CLIA LDT pathway, but “given some of the uncertainties there, we want to be able to move to the FDA route should we want to or need to,” Beier said.
Beier said the company will likely begin raising a $10 million Series A round in 2015. He said the company hopes to be able to launch the colon cancer monitoring test in 2016.
With a breast cancer recurrence test already licensed to Quest Diagnostics, the company seeks strategic partnerships, such as a CLIA-lab partner or a diagnostics company looking to expand its oncology portfolio.
What’s next? In 2013, Matrix-Bio recently optioned more biomarker tech from Purdue that fits its platform. This time, Beier said, with an interest in exploring liver cancer.
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