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VolitionRx's appointment supports strategy to enter US market

Last updated: 11:41 05 Jan 2016 EST, First published: 02:41 05 Jan 2016 EST

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The firm is seeking to revolutionise cancer diagnostics..

Diagnostics specialist VolitionRx (NYSE:VNRX) has hired a full-time head of US operations as it prepares to introduce its NuQ blood tests for cancer in America and around the globe.

Jason Terrell, a medical doctor, has moved from part-time to full-time status as the group's chief medical officer and head of US operations with effect from January 1 this year, it said.

Cameron Reynolds, president and chief executive of  VolitionRx, told investors: "The recent results of clinical trials by VolitionRx have been so compelling that we feel the time is right to employ a full-time Head of US Operations in preparation for introducing our NuQ blood tests to the US market.

"In the past few months, we have secured US patents to protect our key technologies and are making strong progress toward our goal of commercialisation of NuQ products.

"As a doctor holding medical licences in 14 states across the US, Jason brings comprehensive experience and knowledge regarding the US regulatory environment and competitive situation, which should be invaluable in developing VolitionRx's strategy to enter the US market and gain FDA approval of our NuQ cancer tests."

Dr Terrell added: "As a doctor myself, it's very exciting to be involved with bringing NuQ tests to market as they have the potential to make major advances in the early detection of cancer, lead to a greater number of individuals being screened for various cancers, and significantly improve patient outcomes."

The tests show more than 90% accuracy in detecting colorectal, pancreatic and lung cancers and require only a single drop of blood from the patient.

Yesterday, the firm said it had been granted a US patent running until 2032 for its method of detecting fragments of chromosomes, known as nucleosomes, circulating in the blood.

It supports the first two patents granted to VolitionRx in the USA, both of which cover the company's core technologies: the detection of epigenetic modifications to the histones in nucleosomes that are caused by cancer; and the detection of complexes of nucleosomes that have become bound to cancer-related proteins.

"VolitionRx's patent portfolio is growing and includes both core patents that cover key cancer-detection technologies as well as supportive patents for techniques used in the wider process. Two of VolitionRx's core technology patents are already issued in the US and this third patent is the company's first supportive patent,” the firm said.

Shares nudged 0.23% higher at US$4.30.

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