Shares of Oxford BioDynamics PLC jumped on Tuesday after announcing that its EpiSwitch prostate screening test had been validated at its US clinical laboratory, ahead of schedule.
As a result, the biotechnology company, which develops precision medicine tests based on the EpiSwitch 3D genomics platform, said it has brought forward the launch of its precision medicine test to make it immediately available to men who are being screened for prostate cancer.
This coincides with Prostate Cancer Awareness Month, the company said.
Shares more than doubled to 26.23 pence in London, after opening at 10.45 pence.
The company said the prostate cancer screening test will be immediately available to men in the UK, using the US testing center to process the results initially.
The company is in the process of obtaining ISO15189 certification for a clinical laboratory within its laboratory in Oxford, UK. Once certification is achieved, expected in early 2024, precision medicine testing, such as EpiSwitch PSE, will be performed in this laboratory, shortening the overall time to results.
“Daily clinical practice clearly needs a much more accurate blood test to screen men for prostate cancer and accurately identify those at risk, while sparing those who, until now, would have been subjected unnecessary, costly and invasive procedures. It is entirely appropriate that the early launch of the test coincides with Prostate Cancer Awareness Month,” said Dr Jon Burrows, Chief Executive Officer.
“With today’s announcement of the launch of another EpiSwitch-based product, we continue to improve patient health while reducing the cost of care.”
This article is originally published on zonebourse.com