VolitionRx Ltd (NYSEMKT:VNRX) has opened a new research and development facility in Belgium this week.
The US-listed European cancer diagnostics group said the purpose-built laboratory would enable it to increase capacity to carry out clinical trials and to expand its scientific team.
A more modern lab and a bigger lab team should lead to trials taking less time.
"Our capacity to run large clinical trials has increased significantly with this five-fold increase in laboratory space. This will facilitate large scale manual and automated robotic testing. We will now have the ability to work on several large trials at the same time, namely: the front-line screening colorectal cancer tests and lung, prostate and pancreatic cancer," said Dr Marielle Herzog, Research and Development Director of Volition.
Volition's Belgian arm acquired the 19,000 square foot property for €1.2mln – about US$1.29mln.
Volition's research and development activities are currently centered in Belgium, with additional offices in London, New York, Texas and Singapore, as the company focuses on bringing its diagnostic products to market first in Europe, then in the US and ultimately, worldwide.