We have produced a series of new video reports for our client Volition, as they continue their journey towards developing simple, easy-to-use, cost-effective blood tests designed to help diagnose a range of cancers.
The company has just released its 3rd quarter results for 2018 and the video we recorded has been broadcast through various channels including the independent Edison Investment Research – click here to see the report.
We have also interviewed Professor Hn-Mo Chiu, Clinical Professor, Department of Internal Medicine, College of Medicine, National Taiwan University who has been working with Volition. The interview took place during Professor Chiu’s recent visit to the Volition facility in Namur, Belgium.
You can see the interview by clicking here
Volition is a multinational life sciences company. Its tests are based on the technology platform 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 programmes become more widespread, Volition’s products aim to help 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 intends to expand the application of its technology beyond cancer by exploring other disease applications. The company’s research and development activities are currently centered in Belgium, with additional offices in London, Texas and Singapore, as it focuses on bringing its diagnostic products to market first in Europe, then in the US and, ultimately, worldwide.
Highlighting the company’s latest results, Cameron Reynolds, President and Chief Executive Officer of Volition, said, “We have had numerous highlights this quarter, with good progress being made on many fronts demonstrating the diverse nature of our platform technology. From a financial perspective I am delighted that we have strengthened the balance sheet in three ways: most importantly with completion of a private placement (PIPE) of shares of common stock and a warrant with an existing accredited investor resulting in gross proceeds of $9 million (excluding any proceeds from the exercise of the warrant); securing an additional $700,000 in non-dilutive funding from the Walloon Regional Government; and most recently, the exercise of outstanding warrants that provided approximately $717,000 in additional funds to the Company.”
Mr. Reynolds commented, “The first Research Use Only kit was launched in August and we expect to add to the range of kits by the end of 2018. I am delighted to announce that these kits have been sold to several research groups and companies already, affording Volition its first potential revenue from the Nu.QTM platform. Our research and development team in Belgium are hard at work on the significant task of turning our assays into robust products that can be used worldwide. This development work will be key to our future success and is now very much bearing fruit. We are also fortunate to be working with institutions and individuals who have world-renowned reputations. We were delighted to welcome Professor Han-Mo Chiu of National Taiwan University, Principal Investigator of our Pan-Asian colorectal cancer studies, to our facility in Belgium this quarter.”
Third Quarter 2018 and Recent Company Highlights
- Released encouraging preliminary data from a prospective, multi-centered Proof of Concept Study into the utility of Volition’s Nu.Q™ assays to diagnose men with high-grade prostate cancers. At 88% specificity, the Volition assays (including PSA) identified 94% of high-grade prostate cancers that require treatment.
- Signed agreements to conduct two large-scale colorectal cancer research studies across the Asia Pacific region in collaboration with the National Taiwan University.
– The first study will comprise 5,000 asymptomatic colorectal cancer screening subjects, and the second trial will include up to 2,000 symptomatic colorectal cancer patients.
– These studies are being conducted to test and validate Volition’s proprietary Nu.Q™ platform for the detection and diagnosis of colorectal cancer for marketing, rather than for regulatory purposes.
– The studies will cost approximately $2.55 million payable over three years and should assist product development in Asia in 2019.
- Launched and achieved sales of the Nu.Q™ Total assay kit, the first of our range of Research Use Only kits through our exclusive global distributor, Active Motif. We expect to add further products for Research Use Only during the balance of 2018, building through next year and beyond.
- Commenced work on the Bonn27 study: this 4,500-patient cohort has been collected by the University of Bonn, Germany, and includes patients with 27 of the most prevalent cancers.
- Started proof of concept work in one of our non-cancer disease areas, namely: endometriosis. This study is in collaboration with the University of Oxford, which has completed a collection of 350 patient samples over the last three years.
- Expanded our Nu.QTM trials into veterinary diagnostics following very encouraging preliminary results from initial proof of concept studies in dogs and more recently horses. We announced a pilot study collaboration with Texas A&M College of Veterinary Medicine & Biomedical Sciences as a first step toward developing a product commercialization strategy.