LUND, Sweden, June 30, 2020 /PRNewswire/ -- Immunovia AB (publ) ("Immunovia") today announced the company's long-term market penetration target of 30% for IMMray™ PanCan-d, after reimbursement and widespread insurance coverage is achieved.
As previously announced, Immunovia recently secured one of the largest funding raises for an EU-based diagnostics company, providing a strong financial position ahead of the company's first product launch based on the IMMray™ platform.
Immunovia's first to market product IMMray™ PanCan-d, is a long-sought solution for the unmet need of early and accurate detection of pancreatic cancer (PDAC).
IMMray™ PanCan-d will be commercially launched in the United States in the fourth quarter 2020. This will be followed by a European roll-out of IMMray™ PanCan-d and, subsequently, in other markets.
There are more than 7 million eligible patients annually and no existing accurate diagnostics option on the market. Immunovia targets a long-term market penetration of 30% after reimbursement and widespread coverage. The current size of the addressable market for IMMray™ PanCan-d is estimated to exceed USD 4 billion in EU and United States, across the three risk groups that the company targets: Hereditary/Familial, Early Symptoms and Newly Onset Diabetes after 50 years of age.
Guided by Pancreatic ductal adenocarcinoma (PDAC) Key Opinion Leaders, Immunovia's IMMray™ PanCan-d targets these well-defined high-risk groups as well as bottlenecks in current healthcare processes, by providing differential diagnosis in the detection of PDAC. This will result in patients and the healthcare systems reaping maximum benefits. Additionally, this supports one of Immunovia's main objectives which is to have IMMray™ PanCan-d be included in respective countries' National Guidelines.
"Immunovia will be the first to market with a solution to diagnose pancreatic cancer earlier and accurately, a major clinical breakthrough. Immunovia's vision is to become the undisputed market leader for blood-based diagnosis of pancreatic cancer," comments Mats Grahn, CEO, "I am confident and strongly believe that Immunovia will capture a very significant portion of the market."
About Pancreatic Cancer
In the United States, Pancreatic ductal adenocarcinoma (PDAC) has surpassed breast cancer as the third deadliest cancer with an increasing mortality rate. PDAC is projected to become the second most deadly cancer by 2030. The high mortality rate is primarily due to the late detection of PDAC and its vague early stage symptoms. Today, >80% of patients are being diagnosed so late that no treatment options are available. Earlier detection of PDAC, has the potential to improve five-year survival from currently 7-8% up to 50%, using the current methods of treatment (resection by surgery).
This is information that Immunovia is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:45 CET on June 30, 2020.
Immunovia AB is a diagnostic company that is developing and commercializing highly accurate blood tests for the early detection of cancer and autoimmune diseases based on Immunovia's proprietary test platform called IMMray™. Tests are based on antibody biomarker microarray analysis using advanced machine-learning and bioinformatics to single-out a set of relevant biomarkers that indicate a certain disease. Thus, forming a unique "disease biomarker signature".
The company was founded in 2007, based on cancer studies and ground-breaking research in the Department of Immuntechnology at Lund University and CREATE Health Cancer Center, Sweden.
The first product, IMMray™ PanCan-d, is undergoing clinical evaluation in some of the world's largest clinical studies for pancreatic cancer, PanFAM-1, PanSYM-1 and PanDIA-1 and is currently entering the final validation for sales start Q4 2020. When validated, IMMray™ PanCan-d will be the first blood-based test for early diagnosis of pancreatic cancer on the market, with a potential to significantly improve patient survival and outcome.
Immunovia Dx Laboratories located in Marlborough, Massachusetts, USA and Lund, Sweden will provide laboratory testing services in two accredited reference laboratories.
Immunovia's shares (IMMNOV) are listed on Nasdaq Stockholm. For more information, please visit www.immunovia.com.
For more information, please contact:
Director of Investor Relations, Immunovia
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SOURCE Immunovia AB