Bard1 Life Sciences shares double after ovarian cancer detection tech passes test with flying colours
Health & Biotech
Health & Biotech
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Shares in cancer diagnostics company Bard1 (ASX:BD1) doubled this morning after new data was released on its ovarian cancer tech.
Bard1’s probe, SubB2M, specifically looks for Neu5Gc, a sugar molecule present in several cancers including ovarian.
It can be used in several testing methods including liquid biopsies, immunoassays, circulating tumour cell assays and PET imaging.
Griffith University’s Institute of Glycomics found that SubB2M could be used to detect all stages of ovarian cancer with 100 per cent specificity and 100 per cent sensitivity.
The data was only preliminary and involved less than 100 patients but the results were enough to make Bard1 the biggest winner on the ASX this morning with shares more than doubling in early trade.
Ovarian cancer is the biggest gynaecological cancer killer worldwide with 295,000 new cases and 185,000 deaths in 2018. It is typically not detected until a later stage – resulting in a poor survival rate.
But the company and Griffith University hope that it can be soon put to clinical use so cases can be diagnosed earlier. The company has previously stated that earlier detection could substantially boost five-year survival rates.
“Whilst this data is preliminary, the outstanding results indicate the high specificity and sensitivity of SubB2M for ovarian cancer monitoring and detection,” said Bard1’s chief scientific officer Peter French.
“This work underpins Bard1’s decision to license the technology and develop it for novel tests for breast, prostate and pancreatic cancers, as well as for ovarian cancer.”
Both Bard1 and Griffith University have said the collaboration would continue.
Griffith’s Professor Mike Jennings said: “We look forward to working with Bard1 to get this test into clinical use.”