Rhythm BioSciences (ASX:RHY) progresses its market entry of ColoSTAT into the United Kingdom, following UKCA mark certification
The company penned a new partnership with London-based LINK Medical Solutions to assist with a phased approach to market entry
Commercial officer Elena Deak says the partnership is a stepping stone to having the ColoSTAT test available to the international market as an alternative to the current bowel cancer screening method
RHY shares are down 2.22 per cent, trading at 44 cents at 3:10 pm AEST
Medical diagnosis company Rhythm BioSciences (RHY) has progressed its entry of ColoSTAT into the United Kingdom, following approval of its UKCA Mark Certification.
As part of the transition into the UK medical sector, the company committed to a strategic partnership with London-based medical technology consultancy and provider LINK Medical Solutions (LINK).
LINK has extensive experience in the commercialisation and distribution of medical products, launching over 30 medical items since its inception in 2016.
The strategic partnership aims to enhance the diagnosis, quality of life and clinical outcomes for patients with colorectal cancer (CRC) in the UK and around the world.
Rhythm commercial officer Elena Deak says the collaboration is a key step in entering the UK market.
“The team are very excited and looking forward to progressing with LINK Medical Solutions in the UK market,” says Ms Deak.
“LINK’s extensive experience in commercialising innovative medical technologies will create our UK footprint and deliver our goal in having our test available to the international market as an alternative to the current CRC screening method.”
Rhythm’s ColoSTAT test kit is a blood test to detect CR through measuring five specific protein biomarkers which indicate the likelihood of the presence of the cancer.
ColoSTAT is offered as an alternative for people who are not willing or unable to participate in current screening programs.
The partnership will provide Rhythm with the opportunity for the company to enter a phased approach into the UK market.
A successful entry will include broader distribution of the test kit, market access to the public and private healthcare sectors, local clinical validation as well as other benefits.
“This collaboration marks a significant milestone in revolutionising early detection and diagnosis in colorectal cancer that will enable many patients to be treated earlier,” LINK Managing Director Sasha Becejac said.
RHY shares were down 2.22 per cent, trading at 44 cents at 3:10 pm AEST.
