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Rhythm Biosciences (ASX:RHY) - CEO, Glenn Gilbert - The Market Herald
CEO, Glenn Gilbert
Source: Rhythm Biosciences
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  • Rhythm Biosciences (RHY) confirms that part of Sonic Healthcare's (SHL) primary medical care division has joined the ColoSTAT trial
  • Sonic Clinical Services' Independent Practitioner Network (IPN) Medical Centre controls Australia's biggest network of medical centres
  • ColoSTAT is designed to be a cheap, accessible, and effective screening tool for colorectal cancer
  • Bowel cancer is one of the leading causes of cancer-related deaths worldwide, but early detection can improve survival rates by upwards of 90 per cent
  • Shares in Rhythm Biosciences spiked in early trade today but gradually declined until closing 3.06 per cent down at 95 cents each

Rhythm Biosciences (RHY) has added the primary care division of medical giant Sonic Healthcare (SHL) to its ColoSTAT clinical trial.

Sonic Clinical Services' Independent Practitioner Network (IPN) Medical Centre boasts Australia's largest network of medical centres, according to Rhythm, with over 2000 doctors operating across 160 medical centres around the country.

Further to this, IPN provides over 10 million patient consultations every year.

Now, this group of medical centres has come on board for the ColoSTAT trial.

"We are already working with Sonic Healthcare under an existing partnership for the storage and testing of ColoSTAT blood samples as part of the Study 7 clinical trial," Rhythm CEO Glenn Gilbert said.

"Expanding this partnership with an additional division, in Sonic Clinical Service's IPN, is a natural progression that will ultimately contribute to the success of the ColoSTAT clinical trial."

What is ColoSTAT?

Rhythm Bioscience's ColoSTAT product is designed to be a simple and efficient blood test for the early detection of colorectal cancer.

Colorectal cancer is the second biggest cause of cancer-related death in Australia, Europe and the US, and the third largest worldwide.

However, survival rates can be upwards of 90 per cent higher when the cancer is detected in its early stages. Rhythm said regular screening is recommended for around 250 million people between 50 and 75, but the majority remain under-screened.

ColoSTAT is designed to be an alternative method of detecting bowel cancer that's just as effective as a conventional faecal immunochemical test but cheaper and more accessible for people who can't or do not want to take conventional screening tests.

The ColoSTAT tech works by measuring the presence or concentration of biomarkers for colorectal cancer in the bloodstream.

Shares in Rhythm Biosciences spiked in early trade today but gradually declined until closing 3.06 per cent down at 95 cents each. The company has a $191 million market cap.

RHY by the numbers
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