Exciting times:11 Feb 2025 13:32
Q5: Just to finish, Allan, could you summarise what we can expect to see from Cizzle Biotechnology and BIO over the next six months to a year? ( from last July)
A5: It’s a very exciting time for us. I’ve called it an inflection point for the company, because I really believe that it is, and we’re very much at the tip of an iceberg.
Given that we’ve got a 10% royalty, and $2 million of that is guaranteed, just gives you a sense of how big the market opportunity BIO sees it to be. In order for them to make that happen, they have to move very quickly, they have to get multiple sites up and running with the CIZ1B biotechnology, and I think they’ve already been doing that. To be fair, they’ve not waited until signing our agreement by getting out into the marketplace and talking to other major cancer centres.
So, the specifics that we might see is that Moffitt is fantastic, but there are other great centres across the USA, it’s a very large market so I expect that we will see further large trials being initiated with major hospital groups. We will see the first of our accredited laboratories go commercial with the test, we expect that to be happening so that revenues will be generating in those labs in 2025 so it’s fairly close, and we expect many of those labs to be accredited across the USA.
Just to give you a point of reference, there’s a fantastic patient advocacy group in the USA called Go2, and they are charged with the responsibility of doing this screening programme of 14.2 million Americans. That’s done through 880 centres of excellence so if we’re only touching one or two of those at the moment, then you can see the scope and the breadth and the size of the opportunity to go to those other centres and offering them a confirmatory blood test is enormous.
So, I think it’s going to be a very exciting next 6 to 12 months, and hopefully, as we secure those further partnerships in the USA with these large cancer centres and accredited laboratories, we’ll report that back to our shareholders.
So, really exciting news today, fantastic time for the business, and ultimately, and why we’re here is that we’re bringing our test finally to patients. We’re going to attack that problem of patients needlessly dying because there wasn’t an early lung cancer test.
Today, we are bringing that to the market and I’m very proud of the team here and really, really happy with our new relationship, I think it’s a great relationship we have in North America, can’t wait to get the sleeves rolled up and make this all happen.
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