Dunedin-based Pacific Edge has added to its suite of patents with new ones issued in Europe, Australia, and New Zealand for its technology for the detection of gastric cancer.
The biomedical company raised NZ$20 million in September for the commercialisation of its bladder cancer detection test, Cxbladder, in the US. It expects to launch the test in the US upon completion of its laboratory in Pennsylvania.
Cxbladder® has now entered the market in New Zealand and Australia and is slated to launch in Spain in conjunction with Pacific Edge's Spanish partner Oryzon.
Pacific Edge chief executive David Darling said the awarding of a European patent was recognition of Pacific Edge's robust science as the office had extremely specific requirements.
These patents join the patents recently issued for detection of bladder cancer and colorectal cancer prognosis in New Zealand.
“We anticipate that we will have patents issued in other targeted countries over the next 12 to 24 months,” Darling said.
“These new technologies we are now commercialising enable early detection and better management of cancer and are expected to provide significant opportunities for the company, globally."
In a statement, Pacific Edge said the worldwide cancer diagnostic market was growing and the molecular diagnostic component is expected to reach NZ$2.8 billion by 2014.
Gastric or stomach cancer is one of the most common forms of cancer in the world with an estimated 934,000 new cases diagnosed globally each year.
The most common incidences are in China, Japan and Korea.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).
Idealog is part of ICG. We work with clients like Woolworths New Zealand, All Good, Huffer, Liquorland, Resene, Citta Design, TVNZ, Spark and FCB on their event activations, in-store, in-office or out-of-home signage, content creation and vehicle wraps.