The company is partnering with Shanghai Fosun Long March Medical Science Co Ltd, a manufacturer of diagnostic and laboratory instruments. The study will use Volition’s Nu.Q assays to screen for lung cancer at Fosun's hospitals, research institutions and clinics, among other locations.
The two parties previously signed a memorandum of understanding, and the study represents the execution of that contract.
Nu.Q functions as a routine blood test that looks for molecular signatures of cancer by focusing on the nucleosomes — a section of DNA wrapped around a core of proteins — in the blood. As cancer cells multiply, they are modified in a way that distinguishes them from healthy cells and the traits of the malignant disease appear on the nucleosomes..
"The need for a simple, easy to use, cost effective test for cancer is truly universal and we hope very much that our Nu.Q tests can help revolutionize the way cancer is diagnosed worldwide," Volition CEO Cameron Reynolds said.
"We see Asia, and particularly lung cancer in China, as a key market for Volition. We are excited about the commencement of our work in China and look forward to a successful collaboration with Fosun Long March," he added.
According to Fosun chairman Yuejian Zhang, China accounts for 20% of the world's population but 24% of the world's lung cancer diagnoses and 30% of cancer-related deaths.
Shares in Volition rose 4.2% to $3.50 Thursday morning.
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