ISNES, Belgium, Sept. 22, 2017 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition") today announced its strategy for a new range of Clinical Research Use Only (RUO) kits based on its proprietary Nucleosomics™ technology and the receipt of an order of RUO kits from a large multinational pharmaceutical company.
Chief Executive Officer of Volition, Cameron Reynolds, commented, "This is a very important milestone for Volition as it represents our first revenue from the Nu.Q™ platform. The RUO kits could be used to develop a companion diagnostic to a pharmaceutical company's therapeutic product, so could represent an additional potential revenue stream beyond the commercialization of our blood-based cancer tests on the same platform of assays. After the initial sale of the RUO kits, a significant licensing arrangement is possible if the assays become a crucial component of another company's product."
The RUO kits use the same platform as Volition's cancer diagnosis panels but may be used for many other purposes, for example as an aid to drug development and treatment selection. This first sale followed a request for a bespoke kit and precedes the launch of the first series of Volition's products. Volition aims to offer off-the-shelf kits initially with a Total Nucleosome assay in the first quarter of 2018, followed in the second quarter of 2018 by a range of kits initially developed for its own internal cancer diagnostic development programs. The RUO range will allow researchers to explore patterns of epigenetic modifications in circulating nucleosomes across a broad range of clinical applications including cancers, inflammatory and infectious diseases.
Dr. Mark Eccleston, Volition's Business Development Director, commented, "There has been a lot of interest in collaborating with Volition for evaluating nucleosome profiles in a range of applications beyond our core focus in diagnostics. Our suite of Nu.Q™ RUO assays will provide researchers with a complete solution for profiling cell free nucleosomes from cell to serum. This will raise the profile of our approach and broaden the application base beyond our current focus in cancer. The RUO kits will provide external validation of our technology and an expanded user base. We expect this to lead to future licensing opportunities from new clinical applications of our Nucleosomics™ technology."
Volition is a multi-national life sciences company developing simple, easy to use blood-based cancer tests to accurately diagnose a range of cancers. The tests are based on the science of Nucleosomics®, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid - an indication that disease is present.
As cancer screening programs become more widespread, Volition's products aim to help to diagnose a range of cancers quickly, simply, accurately and cost effectively. Early diagnosis has the potential to not only prolong the life of patients, but also to improve their quality of life.
Volition's research and development activities are currently centered in Belgium, with additional offices in London, Texas and Singapore, as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide.
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Media / Investor Contacts
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Nucleosomics®, NuQ®, Nu.Q™ and HyperGenomics® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners. Additionally, unless otherwise specified, all references to "$" refer to the legal currency of the United States of America.
SOURCE VolitionRx Ltd
Released September 22, 2017