A Belgian startup may offer an alternative to screening colonoscopies – VolitionRx is reporting its single-drop blood test can diagnose 84 percent of colorectal cancers of all stages, with 78 percent specificity. The company just raised $1.1 million.
Data from its 938-subject sample of a 4,800 pilot study in Denmark demonstrate the company’s NuQ diagnostic platform is fairly effective. It’ll serve as the foundation for applying for a CE Mark.
Colorectal is a highly treatable cancer if caught early (its five-year survival rate if caught in stage 1 is 74 percent, but just 6 percent in stage 4), but perhaps it’s the “ick factor” that stymies patients from getting tested. Indeed, there’s low compliance with colonoscopies and other screening methods like fecal tests. Because of this, and partially because of cost, colorectal cancer remains the second leading cause of cancer-related death in the U.S.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
“VolitionRx has shown similar results previously in smaller colorectal cancer studies but confirmation that NuQ® tests are effective in a large, blind study is a landmark result for us,” Chief Scientific Officer Jake Micallef said in a statement. “Moreover, the Nucleosomics technology is not limited to the three assays used in this study, but incorporates hundreds of potential epigenetic NuQ tests that may have applicability in colorectal and other cancers.”
VolitionRX is a small-cap public company; it sold 512,614 shares at $2.20 to raise the new $1.1 million in funding. It’ll go toward the company’s ongoing operations and clinical trials.
