Colorectal carcinomas (CRC) are the second most common cancer deaths globally – needlessly, as the success rate for treatment exceeds 95% in cases of early detection. Background: Highly effective screening colonoscopies are received by less than 20% of the population due to their cumbersome bowel preparation procedures and invasive nature. The fecal immunochemical test (FIT) as a simple stool test receives broader acceptance; however, it is less reliable and misses as many as up to 37% of all cancers.
Colorectal cancer is derived from changes in genes responsible for proliferation. ColoAlert, PharmGenomics’ next generation stool test, identifies even the faintest trace of mutations in the relevant genes. Additionally, the amounts of human DNA and hemoglobin are quantified and analyzed for risk-associated threshold values.
With its unique biomarker panel, ColoAlert closes the existing analytical gap between the standard stool test and the colonoscopy by up to 84%. Moreover, compared to the sole close competitor, it cuts costs more than 70% and easily meets the 90% threshold value required for many screening programs.
The capital need
PharmGenomics aims for a Series A funding of €4.9 million. Besides increasing the sales team for the German market, expansion mainly in the EU shall be driven by hiring regional managers to engage and support capable internationalization partners. Additionally, current R&D activities and production capacities shall be scaled up.
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