Source: Rhythm Biosciences
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Transformative cancer diagnostics technology company Rhythm Biosciences (RHY) closes its final ColoSTAT clinical trial site
  • The closure of all the clinical trial sites signifies the finality of clinical trial operations, marking another milestone toward commercialisation of its colorectal cancer blood test
  • Rhythm is now in the process of completing remaining regulatory submission activities
  • The company also aims to eventually make a submission with the Therapeutic Goods Administration (TGA)
  • RHY shares are up 6.25 per cent and trading at $1.36 per share

Transformative cancer diagnostics technology company Rhythm Biosciences (RHY) has closed its final ColoSTAT clinical trial site (study 7).

ColoSTAT is a simple, low-cost blood test for detecting colorectal cancer that has the potential to ultimately provide an alternative to a colonoscopy.

The closure of all ColoSTATE clinical trial sites signifies the finality of clinical trial operations, marking another milestone toward commercialisation of its colorectal cancer blood test.

Rhythm is now in the process of completing remaining regulatory submission activities.

“The successful closure of the operational aspects of our clinical trial program places the company into a critical phase to deliver ColoSTAT into the market later this year,” CEO and Managing Director Glenn Gilbert said.

Near-term activities ahead of the market release of ColoSTAT later this year include the final clinical study report completion and partnering and commercialisation of domestic and international deals.

The company also aims to submit international country registration updates and eventually make a submission with the Therapeutic Goods Administration (TGA).

This announcement follows after ColoSTAT was confirmed to deliver a high level of accuracy for the detection of colorectal cancer, recording a sensitivity of 81 per cent and a specificity of 91 per cent.

Rhythm is focused on becoming a globally significant, transformative, predictive diagnostics company, specialising in cancer detection technology.

RHY shares were up 6.25 per cent and trading at $1.36 per share at 11:16 am AEST.

RHY by the numbers
More From The Market Herald
The Market Herald Video

" Payright (ASX:PYR) settles “transformational” funding package to pursue growth

Payright (ASX:PYR) completes its settlement of funding package, comprising a $125 million warehouse facility led by…
Titomic (ASX:TTT) - Managing Director, Herbert Koeck

" Titomic (ASX:TTT) on track to deliver world’s first mould coatings system

Additive manufacturing company Titomic (ASX:TTT) is on track to deliver the world's first automated cold spray…

" Apiam Animal Health (ASX:AHX) executes growth strategy with two acquisitions

Apiam Animal Health (ASX:AHX) has announced new acquisitions as part of its growth strategy to double…
Unibail Rodamco Westfield (ASX:URW) - CEO & Chairman, Jean-Marie Tritant

" Unibail-Rodamco-Westfield (ASX:URW) rebrands three flagship centres

Unibail-Rodamco-Westfield (ASX:URW) has rebranded three flagship centres in Madrid, Stockholm and Warsaw