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.”
About Volition
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.
For more information about Volition, visit Volition’s website (http://www.volitionrx.com) or connect with us via:
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The contents found at Volition’s website address, Twitter, LinkedIn, Facebook, and YouTube are not incorporated by reference into this document and should not be considered part of this document. The addresses for Volition’s website, Twitter, LinkedIn, Facebook, and YouTube are included in this document as inactive textual references only.
Media / Investor Contacts
Louise Day, Volition +44 (0)7557 774620 | Scott Powell, Volition +1 (646) 650 1351 |
Tirth Patel, Edison Advisors +1 (646) 653 7035 | Rachel Carroll, Edison Advisors +44 (0)20 3077 5711 |
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 effectiveness of Volition’s bodily-fluid-based diagnostic tests as well as Volition’s ability to develop and successfully commercialize such test platforms for early detection of cancer. Volition’s actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties. For instance, if Volition fails to develop and commercialize diagnostic 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 in the clinical IVD market; a failure by the marketplace to accept the products in Volition’s development pipeline or any other diagnostic products Volition might develop; 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; 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®, 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.
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SOURCE VolitionRx Ltd
