ASX companies on front line of advancing breast cancer care

  • October marks Global Breast Cancer Awareness Month with several ASX companies working to advance early detection and treatments for better outcomes
  • Imagion’s first-of-its-kind imaging agent tech MagSense uses targeted nanoparticles to enhance MRI imaging to detect cancer earlier and with greater precision
  • Rhythm Biosicences’ geneType Breast Cancer Risk Assessment Test integrates clinical, family history and genetic data to deliver comprehensive disease risk insight

 

October marks Global Breast Cancer Awareness Month, a reminder of how far medicine has come in improving outcomes for people diagnosed with the disease, and how medical innovation continues to drive progress.

According to the World Health Organization, breast cancer was the most common cancer in women in 157 countries out of 185 in 2022

The risk of being diagnosed with breast cancer over a lifetime is one in seven for Australian women, with around 99% of cases occurring in women and less than 1% in men.

Despite rising case numbers, Australia has one of the highest breast cancer survival rates in the world, thanks to advances in screening, diagnostics and treatment.

The latest figures released in September 2024 show that the five-year survival rate rose from 78% in the early 1990s to 92% in 2016-2020, and many Australians now live long, healthy lives well beyond that milestone.

Early detection and treatment are critical, with screening programs and innovative diagnostics helping to identify breast cancer before it spreads.

As work continues to improve diagnosis and outcomes for breast cancer, several ASX-listed biotechnology and medical technology companies are leading the way to transform how breast cancer is detected.

 

Unlocking power of MRI for early detection

Imagion Biosystems’ (ASX:IBX) proprietary, first-of-its-kind imaging agent tech, dubbed MagSense, uses targeted nanoparticles to enhance MRI imaging, enabling clinicians to detect cancer earlier and with greater precision.

The company is preparing to file an investigational new drug application with the US Food and Drug Administration (FDA) and then conduct a phase II study in HER2+ breast cancer.

Imagion carried out a previous phase I Magsense study, also for Her-2 breast cancer, which established the tech can be applied safely in humans and that it works with existing MRI units.

The company recently completed manufacturing of its MagSense HER2 breast cancer imaging agent. It also inked a new collaboration with leading MRI experts at Wayne State University in the US, which bolsters its existing agreement with Siemens Healthineers – the world’s leading manufacturer of MRI equipment.

Dr Mark Haacke and Dr Sagar Bush are developing optimised imaging protocols for MagSense. Their research focuses on creating quantitative MRI sequences compatible with Siemens and other systems.

By combining these imaging techniques with MagSense agents, Imagion aims to enable AI-driven interpretation and deliver more accurate, data-rich insights for cancer detection and patient care.

Executive chair Bob Proulx told Stockhead MagSense had the potential to revolutionise cancer screening by providing molecular confirmation of cancers rather than mere suspicion, enabling earlier detection and treatment.

“Almost everyone has had an experience where imaging has uncovered something of potential concern but then more tests, biopsies, and procedures need to be done before a definitive diagnosis is made,” he said.

“The toll on patients in terms of time, costs, and anxiety are high.

“So, we are very excited to be approaching our next phase of clinical investigations where we expect to see how our MagSense technology can change the way we see cancer by combining high resolution imaging with molecular precision.”

 

Rhythm empowers women to understand risk

Predictive cancer diagnostics company Rhythm Biosciences (ASX:RHY) is taking a proactive approach to breast cancer with its geneType Breast Cancer Risk Assessment Test, complementing existing screening pathways.

Rhythm acquired the geneType testing platform late last year from administrators of the failed Genetic Technologies. The genetic risk assessment platform integrates clinical, family history and genetic data to deliver comprehensive disease risk insights. Using polygenic risk scores and clinical factors, it provides personalised guidance to support informed medical decisions.

It enables risk assessment across multiple conditions, including breast and colorectal cancer, cardiovascular disease, diabetes, prostate cancer and melanoma. Tests are offered through healthcare providers and genetic counsellors, ensuring clinical oversight and patient support.

The company in September announced it had inked a co-marketing deal with leading global non-profit organisation Know Your Lemons Foundation (KYL), which is dedicated to breast cancer education and early detection.

KYL was founded in 2014 by Dr Corrine Ellsworth Beaumont, who was inspired by the loss of both grandmothers to breast cancer, empowering women to understand their breast health, risk factors and screening options.

“By activating geneType through KYL’s app, we can reach large numbers of women, supporting proactive health decisions and ultimately improving early detection outcomes,” CEO David Atkins told Stockhead.

 

Optiscan’s real-time cellular imaging set to transform surgery

Medtech Optiscan (ASX:OIL) has pioneered the world’s first miniaturised confocal microscope that allows doctors, pathologists and veterinarians to see living tissue at sub-cellular resolution in real-time.

By delivering slide-free, biopsy-free, high-resolution microscopic imaging, Optiscan aims to identify cancer cells instantly, enabling faster, more accurate treatment decisions and reduce the need for invasive procedures.

In June Optiscan started its ground-breaking first in-human breast cancer study at the Royal Melbourne Hospital, which will recruit 50 patients undergoing breast-conserving procedures.

The study is focused on evaluating how Optiscan’s precision surgical device InVue can assist surgeons in assessing tissue during breast-conserving surgery and how its companion digital pathology device InForm can support pathologists in examining tissue immediately after it is removed.

Together, these technologies aim to create a fully digital surgical-pathology process that could help reduce repeat operations, shorten waiting times for results and improve patient outcomes.

Optiscan’s work reflects a broader shift toward digital, real-time imaging in medicine, which aims to bring greater speed, accuracy and confidence to cancer diagnosis and treatment.

Being able to evaluate tumour margins with cellular-level precision during surgery has the potential to revolutionise breast cancer treatment,” Dr Camile Farah told Stockhead.

“By providing surgeons with direct, live imaging of cellular structures, we’re setting a new standard for precision and patient-centred care in oncology.”

 

BCAL diagnostics develops breast cancer blood test

BCAL Diagnostics (ASX:BDX) is also focused on advancing early and accurate breast cancer detection via BREASTEST plus, a non-invasive, lipid-based rule-out test designed to be used in women with dense breasts and alongside mammography to improve screening and diagnostic outcomes.

“BREASTTEST plus can now be ordered by more than 100 doctors and available in more than 20 clinics (specialist and GP’s) across Sydney and Melbourne,” a BCAL spokesperson told Stockhead.

“Our immediate plans are to continue to improve access across both cities, before the broader national roll out in 2026.”

 

 

 

At Stockhead, we tell it like it is. While Imagion Biosystems, Rhythm Biosciences and Optiscan are Stockhead advertisers, the companies did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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