The Rhythm Biosciences’ (RHY) Colon and Rectal Cancer Screening Group Prototype Performance Test (RHY) has yielded very positive results
ColoSTAT Series Initial Test shows it outperforms the standard fecal immunochemical (FIT) test on the market
It also showed better results from the data generated by CSIRO in the commercial-sourced individual biomarker test kits
ColoSTAT was more successful in providing both positive and valid negative results, with fewer false results than potential competitors
Rhythm CEO Glenn Gilbert says the study supports the global market potential for ColoSTAT as an effective screening test for colorectal cancer
“These preliminary results demonstrate the high accuracy and specificity of the ColoSTAT prototype testing kit that clearly distinguishes between cancerous blood samples and healthy samples,” Glenn said
“This is an important step forward for the company as we are taking steps to commercialize our world’s leading diagnostic diagnostic test that will save lives,” he added.
Cadence will continue to improve its algorithm that reads biomarkers in stool samples and delivers test results
The company will also increase its manufacturing capabilities and continue testing to ensure that the prototype continues to function effectively when mass-produced.
“The ColoSTAT system meets the unmet global need for a simple, accurate, reliable and affordable blood test for colorectal cancer detection in a comprehensive screening environment, and we are excited to be at the forefront of this transformative development,” Glenn said
Some additional testing will also be conducted for third-party groups, with results expected by March 2021
ASX: RHY, ASX, Colorectal Cancer
World News – AU – Rhythm Biosciences Cancer Test Group (ASX: RHY) Exceeds Market Standards – The Market Herald
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