AUSTIN, Texas, Jan. 25, 2021 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition") today announced the opening of "Silver One", its 10,000 square foot dedicated manufacturing facility located on the same science park as its Research and Development laboratory in Isnes, Belgium. Volition plans to utilize this facility to produce, at large scale, all the key raw materials for its Nu. Q™ products, such as recombinant nucleosomes and antibodies. Volition will also use the facility to manufacture finished products such as the recently launched Nu.Q™ Vet Cancer Screening Test and the recently CE-marked blood cancer test.
Commenting on the opening, Dr. Gaetan Michel, Chief Executive Officer of Belgium Volition SRL said, "The opening of the new facility will not only bring the manufacture of key components in-house thereby securing our supply chain, but it will also significantly reduce the cost of production of all these components and in turn reduce the cost of both assay development and finished products. The purchase and full fit out at a cost of just over $1 million was mostly funded by non-dilutive funding received from Namur Invest and the Walloon Region, demonstrating our continuing commitment to careful cash management. I am extremely proud that we are now a company manufacturing products as well as undertaking cutting-edge research and development."
"In addition to the manufacturing capability, we have also installed a Service Laboratory in the new facility," continued Dr. Michel. "Within this lab we will undertake sample processing for external parties such as the pre-eclampsia samples processed as a service for Nimes University Hospital, as described in a recently published paper, providing another strand to our diverse revenue stream from our proprietary Nu.Q™ platform."
As previously announced, Volition has also opened a small laboratory at California State University in San Marcos, California within the University's Innovation Hub. The employees will be led by experienced epigenetic scientist Dr. Terry Kelly, Chief Scientific Officer of Volition America Inc. and will focus on innovative projects to expand Volition's intellectual property portfolio.
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Volition is a multi-national epigenetics company developing simple, easy to use, cost effective blood tests to help diagnose a range of cancers and other diseases. Early diagnosis has the potential to not only prolong the life of patients, but also to improve their quality of life. 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. Volition is primarily focused on human diagnostics but also has a subsidiary focused on animal diagnostics.
Volition's research and development activities are centered in Belgium, with a small laboratory in California and additional offices in Texas, London and Singapore, as the company focuses on bringing its diagnostic products to market.
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Safe Harbor Statement
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to the intended uses of the Silver One facility and its impact on Volition's business. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, results of studies testing the efficacy of its tests. For instance, if Volition fails to develop and commercialize diagnostic or prognostic products, it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic or prognostic products Volition might develop; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics market and its rapid technological change; downturns in domestic and foreign economies; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Nucleosomics™ and Nu.Q™ 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.
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SOURCE VolitionRx Limited
Released January 25, 2021