ISNES, Belgium, April 9, 2019 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition") hosted a Capital Markets Day at the New York Stock Exchange today to update interested parties on its recent progress. Volition has also issued a Company Update Report; a downloadable version of which is available here
"It has been a busy quarter with the public announcement of a number of initiatives and we were delighted to have the opportunity to discuss our plans at the Capital Markets Day event today," commented Chief Executive Officer, Cameron Reynolds. "We would like to thank all those who attended, especially our speakers Professor Axel Imhof of Ludwig-Maximilians University of Munich and Associate Professor Heather Wilson-Robles of Texas A&M University."
To view the opening video shown at today's event please click here
A highlights video from the day will be released on Wednesday, April 10.
Following recently announced preliminary results from two proof of concept studies in lung cancer, Volition has signed a Memorandum of Understanding with the prestigious National Taiwan University through its wholly-owned subsidiary, Belgian Volition SPRL ("Belgian Volition"), to conduct a large-scale lung cancer study. Principal Investigator Professor Chen Jin-Shing commented: "The early data of the Nu.QTM technology platform is promising but clearly larger scale studies are required. Lung cancer remains the deadliest of all the cancers and there is a high unmet clinical need for either a non-invasive early stage lung cancer detection test or for a triage test which can improve the specificity of the Low-Dose CT scan currently used." Volition expects to release preliminary data relating to the first 600 patient samples in first quarter of 2020.
Volition has also executed a nonbinding Memorandum of Understanding with Shanghai Fosun Long March Medical Science Co., Ltd. with an expectation of negotiating and entering into a binding agreement to help facilitate the entrance of the Nu.QTM platform into China. Dr. Jasmine Kway, Chief Executive Officer of Singapore Volition, commented: "We are happy to be able to announce this Memorandum of Understanding with Fosun Long March because, in addition to our plans to undertake clinical studies in colorectal cancer, lung cancer and ovarian cancer, we are also planning to jointly explore the development of Nu.QTM assays utilizing Fosun's LUMIART-II Automated Chemiluminescence Immunoassay System, which could provide us with an additional platform for the Chinese market."
In an announcement earlier today, Volition revealed that it has also entered into a nonbinding Memorandum of Understanding ("MOU") through Belgian Volition with Texas A&M University, a member of The Texas A&M University System. Pursuant to the terms of the MOU, the parties will explore the feasibility of a collaborative research relationship. Any such relationship is subject to the negotiation of terms and conditions and the entry into a final binding agreement. The MOU contemplates that Belgian Volition would form a new subsidiary in the United States to focus on the veterinary diagnostic market utilizing its NucleosomicsTM technology ("Vetco") and Texas A&M University would collaborate on the research and development of veterinary diagnostic products and is interested in negotiating a shareholding in Vetco.
Dr. Jason Terrell, Chief Executive Officer of Volition America Inc., stated: "From a commercial point of view, we are extremely excited about the possibility of offering Nu.QTM Vet tests to animal owners and veterinarians. There are currently no accurate, simple, affordable cancer screening or diagnostic tests available in veterinary medicine and yet 25% of dogs will develop cancer at some stage of their life. With pricing currently expected to be between $100-$200 per test, we believe that this is a multi-billion-dollar opportunity. We aim to have the first Nu.QTM Vet product on the market in the U.S. in 2020."
Volition is a multi-national life sciences 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'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.
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Media / Investor Contacts
Louise Batchelor, Volition
+44 (0)7557 774620
Scott Powell, Volition
+1 (646) 650 1351
Joseph Green, Edison Advisors
+1 (646) 653 7030
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 establishment of a collaborative research relationship and the negotiation and execution of a binding agreement with Texas A&M University, the negotiation and execution of binding agreements with each of the National Taiwan University and Shanghai Fosun Long March Medical Science Co., Ltd., the effectiveness of Volition's blood-based diagnostic tests as well as 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. 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 or the veterinary markets; 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.
NucleosomicsTM, and Nu.QTM 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