1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
Key Points:
Launch of pancreatic and ovarian cancer detection tests in Australia and New Zealand set for JanuaryTests processed in the US following UK and US regulatory approvalFocus on early detection for at-risk groups, especially those with genetic predispositionsFinancial position buoyed by cash reserves and potential convertible note funding
BCAL Diagnostics (ASX:BDX) is preparing to bring two new early detection tests for pancreatic and ovarian cancer to Australia and New Zealand by January, according to CEO, Shane Ryan. These tests, developed by Clear Note Health in San Diego, have received UK regulatory approval, with a successful track record in both California and New York State. The company, through an exclusive licence, plans to process samples in the US, offering quicker turnaround for results, a process seen as standard for precision oncology tests in Australia. Regulatory approvals in Australia are not required as the tests will be conducted offshore.
Ryan highlights the critical need for such diagnostics, particularly for pancreatic cancer, where the five-year survival rate is approximately 13% due to late detection. Early-stage diagnosis increases the survival rate to 80%, offering significant improvement in patient outcomes. The ovarian cancer test targets women with a genetic risk or strong family history, aiming to support ongoing clinical surveillance and enhance early detection strategies for high-risk groups.
He adds that BCL Diagnostics' existing breast cancer test, Breast Test Plus, is already available in Australia, with ongoing enhancements to expand accessibility. Financially, Ryan notes the company holds approximately $2 million in cash and is seeking shareholder approval for a convertible note of up to $10 million to support further growth.
