Periodic Reporting for period 1 - GenomtecTumor (MicroRNA-based tool for non-invasive early-stage cancer diagnosis)
Reporting period: 2019-11-01 to 2020-04-30
Genomtec is developing a portable and easy to use device for early cancer diagnosis to maximise patient outcomes. Cancer is a major public health problem and a leading cause of morbidity and death with over 14.1 million cases reported worldwide every year. Early cancer diagnosis is critical to its successful treatment, yet today’s technologies are limited in their accuracy resulting in laborious and time consuming processes. Genomtec aims to address this challenge with its novel diagnostic system based on unique, patent pending amplification technology – Streamlined Nucleic Acid Amplification Technology (SNAATTM). Genomtec’s programme is built on many years of R&D activity and collaborative projects with academic and medical institutions in Poland. Using this robust molecular biology method for real-time amplification of nucleic acids, Genomtec’s cancer diagnostic test can be performed in approx. 30 minutes at the point-of- care.
Genomtec offers the possibility to accurately diagnose cancer early and reduce its financial burden on the economy, by enabling more effective treatment and improved patient outcomes, including increased patient survival, increased post-treatment quality of life, and reduced patient distress during the diagnostic phase.
Genomtec offers the possibility to accurately diagnose cancer early and reduce its financial burden on the economy, by enabling more effective treatment and improved patient outcomes, including increased patient survival, increased post-treatment quality of life, and reduced patient distress during the diagnostic phase.
The feasibility assesment has shown that GenomtecTumor demonstrates a strong commercial potential. The main conclusion derived from this study is that there exists a clear business opportunity to exploit on the global molecular diagnostics market in the space of cancer personalised therapy. Due to the significant market sizes, this provides a unique and lucrative opportunity for Genomtec SA. Through the assessment of the clinical and technical feasibility, conducted in this project, we have prepared the clinical study synopsis defining details of the planned studies, including financial requirements and approvals.
We have also refined and strengthened our business plan and go to market strategy, enabling reaching our financial and commercialisation targets.
We have also refined and strengthened our business plan and go to market strategy, enabling reaching our financial and commercialisation targets.
Genomtec’s fully-automated, hand-held device has the potential to disrupt the molecular diagnostics market. As there are no commercially available products offering microRNA detection as tumour markers also on the market there is no POCT system for fast and accurate mutation detection for personalised coancer therapy, Genomtec is capable of creating a new market for highly accurate detection of early-stage cancers and advise on the best possible therapy. By bringing this game-changing product to the market, Genomtec will play a key role in cancer management. Increased patient awareness and improved treatment outcomes have resulted in higher compliance with cancer screening programs. Genomtec Tumor offers a specific, sensitive, fast and cost-effective diagnosis. With these features, it will contribute to improved therapy choice and have positive effects on the overall economics related to cancer care.