Technology developed by researchers from the Centre for Translational Cancer Research at Otago University with HRC funding, has been commercialised through their NZX-listed spin-off biotech company, Pacific Edge Ltd, of which Professor Parry Guilford is chief scientific officer.
In 2011 the company launched their diagnostic testing kit for bladder cancer, Cxbladder, which has been rolled out across New Zealand DHBs and has recently been launched into the Singapore and North American market.
Bladder cancer was previously diagnosed using a highly-invasive and expensive endoscopic procedure. Cxbladder is a non-invasive laboratory test which is conducted on urine samples and consistently outperforms competing products.
2018 was a particularly good year for the company. Shares rose 6.5% with the announcement of the commercial deal to supply Cxbladder tests in Singapore; and they attracted a NZD$2.6 million investment from the US, with investors citing the company’s expanding US presence and growing adoption of Cxbladder tests by urologists.
The Financial Times named Pacific Edge fifth on their 2018 FT1000 High Growth Companies Asia-Pacific list with 5,453% revenue growth from 2013-2016.