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David Atkins, CEO of Rhythm Biosciences (ASX: RHY) shares that the company plans to raise $3.5M through a private placement to advance their cancer detection technologies. The funds will support the development and validation of their colorectal cancer assay alongside five additional cancer programs.
David highlights that while colorectal cancer remains the primary focus, Rhythm (ASX: RHY) is exploring biomarkers for lung, gastric, breast, and pancreatic cancers aiming for a low-cost, non-invasive blood test. They are collaborating with a US partner, with plans for laboratory and clinical testing in Melbourne.
Commercialisation is anticipated for 2025. David emphasises that Rhythm (ASX: RHY), with its advanced biotech program, offers a compelling investment opportunity. The knowledge and progress made in cancer research set a promising stage for the company’s growth and investor engagement.
