- Rhythm Biosciences has been granted a patent for its ColoSTAT technology in China
- This patent will provide protection for the company and its device until 2031
- The technology is a test that measures the presence of proteins that are evident in colorectal cancer
- It is hoped this technology will speed up tests and provide accurate results before cancer becomes deadly
- Rhythm’s share price has remained steady with shares trading for 16.5 cents apiece
Rhythm Biosciences has received notice that its patent for ColoSTAT has been granted in China.
This adds onto Rhythm’s already granted patents in Australia, Japan, Europe and China with pending applications in Brazil, India and the U.S.
Granting of this patent in China expands the combinations of biomarkers that can be used in the ColoSTAT test-kit marketed in China beyond those covered by the original patent.
These patents cover Rhythm’s preferred sets of biomarker combinations and will provide protection until 2031.
“Filing patent protection is a very important basis in commercialising the technology of Rhythm,” CEO Glenn Gilbert commented.
“It gives us a stronghold on our unique IP and is important in driving shareholder value. We will continue to seek to expand on our existing IP protection in the future,” he added.
The ColoSTAT test is a biochemical test which measures the presence and/or concentration of multiple protein biomarkers for colorectal cancer.
The experience of taking this test is the same as a normal blood test. The patient is first recommended for a ColoSTAT test by their doctor, they give a blood sample and then the results get processed.
If it comes up the patient has colorectal cancer then they will go in for a colonoscopy as soon as possible.
ColoSTAT is designed to be minimally evasive, cost effective and provide another option if a patient wants one.
It is estimated that over 100 million people in Australia, Europe and the U.S. will benefit from this test.
Currently, colorectal cancer is the second largest cause of cancer deaths in Australia, Europe and the U.S., and the third largest globally.
Most colorectal cancers start as a growth on the inner lining of the colon or rectum. These growths can then spread from the walls of the colon and grow into blood or lymph vessels.
If detected early enough it is curable in 90 per cent of cases so early screening is highly crucial.
ColoSTAT has the potential to provide a simpler method for screening, therefore increasing the survivability rates.
“With the world’s largest and ageing population, China represents a large potential market for ColoSTAT,” Glenn said.
“Over the coming years, colorectal cancer cases across the western 15 provinces in China are expected to increase by 64 per cent to over 642,000 cases per year, with deaths from colorectal cancer increasing by over 30 per cent to over 221,000,” he added.
Rhythm Biosciences has seen no change in its share price with shares trading for 16.5 cents apiece at market close.