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VolitionRx Limited's large US clinical study is a major milestone

Last updated: 15:29 18 Jul 2017 EDT, First published: 10:29 18 Jul 2017 EDT

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"We believe this large scale clinical study will be invaluable when we seek FDA approval for Nu.Q," the firm said

Cancer diagnostics group VolitionRx Limited (NYSE MKT:VNRX) announced a big step forward for its NuQ blood tests - after it inked an agreement to participate in a large clinical study with around 13,500 subjects.

The agreement is with the Great Lakes New England Clinical Validation Center funded by the US National Cancer Institute's (NCI) Early Detection Research Network (EDRN) and Volition's subsidiary will contribute up to $3mln towards this public-private arrangement.

This will be paid in instalments over three years.

The study will provide around 13,500 screening samples of people aged 50 or over who have not previously undergone screening or a diagnostic colonoscopy.

Cameron Reynolds,  VolitionRx chief, said: "This is exciting news for Volition and very much advances our efforts in the U.S. market.

"We believe this large scale clinical study will be invaluable when we seek FDA approval for Nu.Q.

"The public-private arrangement involves joint governmental and private funding and reduces our costs to $3 million, and we believe that it represents exceptional value for money.

Already 4,677 samples have been collected and up to 9,000 will be prospectively collected.

VolitionRx shares added 3.12% to $3.30 on the day.

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