VolitionRx Limited (NYSEAMERICAN:VNRX) announced Thursday that it and Gyros Protein Technologies AB have been awarded more than $1 million to collaborate on developing a lung cancer blood test.
VolitionRx will receive $820,000 (€740,000) and Gyros Protein Technologies, now part of Mesa Laboratories Inc (NASDAQ:MLAB), will get $230,000 (€206,000) in the form of a non-repayable Eurostars cash grant, according to a statement.
The grant proceeds are to be used towards the development of novel, high sensitivity assays and a validated panel ready for regulatory trials through the combination of VolitionRx’s propriety Nu.QTM platform and Gyros Protein Technologies' Gyrolab technology.
The resulting blood-based test will be used for triaging individuals testing positive in Low Dose CT lung cancer screening.
"This Eurostars funding will greatly assist with the development of our groundbreaking Nu.QTM technology on a new high sensitivity platform, in addition to our current ELISA plate and bead-based assays,” Marielle Herzog, research and development director with Belgian Volition SPRL, the company's Belgium-based subsidiary.
“We are very excited to yet again broaden the range of our technology platform by working with Gyros Protein Technologies, who we believe has excellent immunoassay solutions that should complement the work we are doing.”
VolitionRx and Gyros Protein Technologies will collaborate to develop 12 novel Research Use Only liquid biopsy assays based on VolitionRx's Nu.QTM immunoassays and Gyros Protein Technologies' Gyrolab platform to profile unique circulating cell-free nucleosomes.
Combining both technologies, the assays will be supported by a new ultra-sensitive Gyrolab Bioaffy CD and Nu.QTM profiles to differentiate lung cancer from benign disease.
Headquartered in Isnes, Belgium, VolitionRx said a validated triage panel will be developed in a prospectively collected cohort, with the goal to be ready for regulatory trials.
"Lung cancer is the leading cause of cancer death worldwide and has the lowest five-year survival rate of any cancer, with less than half of cases detected at early, treatable stages,” said Ivan Kamensky, divisional vice president of operations and research and development at Gyros Protein Technologies.
“We believe Volition's innovative biomarker panels have the potential to greatly improve the standard of care for those at high risk of lung cancer, and we are grateful to Eurostars for funding this collaborative project."
Eurostars is a European joint program, co-funded from the national budgets of 36 EUREKA countries and by the European Union through Horizon 2020.
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