- INOVIQ (IIQ) engages Percorso Life Sciences to provide contract sales and logistics services to accelerate the roll-out of its EXO-NET research products in the US
- EXO-NET was developed as a research tool that catches exosomes from blood to enable the development of diagnostic tests
- The agreement is for an initial term of 15 months and will cover key East Coast, West Coast and Midwest regions of the US
- Further, the company plans to build a portfolio of EXO-NET powered exosome-based diagnostics for detection of cancer and other diseases
- Shares in INOVIQ are steady on the market and are trading at 65 cents at 1:57 pm AEST
INOVIQ (IIQ) has engaged US-based Percorso Life Sciences to provide contract sales and logistics services to accelerate the roll-out of its EXO-NET research products in the US.
The company had developed its EXO-NET technology to be used as a research tool that can catch exosomes from blood to enable the development of diagnostic tests.
Exosomes are cell-derived small extracellular vesicles that contain various molecules that can be identified and potentially used as diagnostic biomarkers of disease or for drug targets.
The agreement is for an initial term of 15 months and will cover key East Coast, West Coast and Midwest regions of the US.
Under the terms of the agreement, Percorso will provide recruitment services, personnel management of sales representatives, marketing and sales, and inventory, logistics and warehouse services for INOVIQ products.
CEO Dr Leearne Hinch said the agreement is a “key step forward” driving the EXO-NET research tool sales in the US which she perceived as the largest geographic market segment for exosome research products globally.
“It signals a ramp up in our commercial focus for EXO-NET and is another important
milestone for INOVIQ,” she said.
“It also expands access to potential collaboration opportunities for exosome-based diagnostic and therapeutic applications.”
As part of INOVIQ’s strategy to capture the exosome research market, the company intends to develop a portfolio of EXO-NET research tools for the isolation of specific subsets of extracellular vesicles to support various indications including oncology and inflammatory conditions.
Further, the company plans to build a portfolio of EXO-NET powered exosome-based
diagnostics for detection of cancer and other diseases.
According to the company, North America represents 41.5 per cent of the US$144 million (A$208 million) global market. The global exosome research market is expected to reach US$661 million by 2026.
Shares in INOVIQ were steady on the market and were trading at 65 cents at 1:57 pm AEST.