Austin, TX /PRNewswire/ - VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company developing simple, easy to use, cost effective blood tests to help diagnose a range of cancers and other diseases in both humans and animals, has announced the launch of its first product, the Nu.Q™ Vet Cancer Screening Test.
The test, which as of yesterday is available to order by veterinarians in the U.S. from the GI Lab at Texas A&M University, is positioned for use in the annual wellness check of older dogs or for cases where there is a suspicion of cancer. It can also be a complementary test for younger dogs of breeds with a high risk for developing cancer in their lifetimes, such as Golden Retrievers. The potential market opportunity is significant given that there are approximately 77 million dogs in the U.S. Volition expects its initial revenue to be $45 per test.
During this initial launch phase, Volition is focused on driving awareness of the test not only across the specialist oncology community nationwide but also the general practice veterinarians in Texas (our chosen Beta market) through a series of "lunch and learns", product mailings, a social media campaign and a Webinar featuring Professor. Heather Wilson-Robles and Dr. Sue Ettinger (aka Dr. Sue Cancer Vet).
Commenting on the launch, Cameron Reynolds, Chief Executive Officer of Volition said, "The launch of the Nu.Q™ Vet Cancer Screening Test is a stand out moment in our ten year history and an extremely important milestone for our company. It demonstrates that our Nu.Q™ platform has now attained both the reliability and reproducibility to launch in an independent laboratory. After setting up our veterinary subsidiary just over a year ago, the combination of experience and expertise of the Volition Veterinary and Texas A&M teams has enabled this incredible speed to market, especially considering the pandemic. This is a hugely important test that we hope will fundamentally change how veterinarians manage cancer detection in dogs."
Professor Heather Wilson-Robles of Texas A&M University and Chief Medical Officer of Volition Veterinary Diagnostics Development LLC said, "Unlike in humans, where routine cancer screening is relatively commonplace, there are few tests for animals. We are changing this today, with the launch of the Nu.Q™ Vet Cancer Screening Test. This simple, low-cost blood test can help streamline the diagnostic process and shorten the path to diagnosis thereby allowing treatment (be that therapy or surgery) to be initiated earlier, even before symptoms appear, increasing the chance of the dog's survival and its quality of life. I am so looking forward to speaking to as many key opinion leaders and veterinarians themselves over the coming months to let them know about this fantastic new way to help dogs be diagnosed and treated."
About the Test
Cancer is the most common cause of death in dogs over the age of two years old in the U.S. and up to 50% of all dogs over the age of 10 develop cancer in their lifetime. Currently, dogs suspected of having cancer are required to undergo a variety of diagnostic tests that may be expensive, time consuming and/or painful for the animal.
The Nu.Q™ Vet Cancer Screening Test is a low-cost, easy to use ELISA-based screening test that measures and identifies circulating nucleosomes, which are early markers of cancer, from a simple blood sample to enable a streamlined and less invasive diagnostic process.
At 100% specificity the test has been shown to detect 74% of lymphoma and 89% of hemangiosarcoma, common cancers which make up approximately one third of canine cancers.
The benefit for the veterinarian, the pet owner and the dog is a streamlined diagnostic process: simpler, quicker and less painful diagnosis with the goal of providing quality of life to the pet and more quality time with its owners, as well as providing valuable additional information to inform the clinical decision-making process.
To find out more please click to download our Product Information Brochure, our Pet Owner Leaflet or visit our website https://volition.com/veterinary.
Should you have any questions please contact us at NuQVet@volition.com.
Veterinarians can also register for a Webinar to be held on December 9 at 7pm CT – click here
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 NucleosomicsTM, 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.
For more information about Volition, visit Volition's website volition.com or connect with us via:
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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 blood-based diagnostic and prognostic tests, and Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases. 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.