Volition and Fujifilm Vet Systems Launch Nu.Q® Vet Cancer Test in Japan
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Insights
The supply agreement between VolitionRx Limited and Fujifilm Vet Systems represents a strategic move into the Japanese market, a country known for its high pet ownership rates and advanced veterinary care. By introducing the Nu.Q® Vet Cancer Test, Volition is tapping into a niche yet potentially lucrative segment of cancer screening for dogs, which aligns with the growing trend of pet humanization and increased spending on pet healthcare.
Japan's pet industry has been on the rise, with a significant portion of the population owning pets and willing to spend on their health and well-being. This partnership could position Volition as a key player in the veterinary diagnostic space in Japan, leveraging Fujifilm Vet Systems' established network. The focus on early cancer detection could lead to an increase in demand for such tests, given the value placed on preventive care in the country.
However, the success of this venture will depend on various factors, including the accuracy and reliability of the Nu.Q® Vet Cancer Test, market acceptance and the competitive landscape. It is also essential to consider the regulatory environment and any potential cultural differences that may influence the adoption of the test.
The introduction of the Nu.Q® Vet Cancer Test in Japan by VolitionRx Limited, in collaboration with Fujifilm Vet Systems, is a significant development in veterinary oncology. Early detection of cancer in dogs can drastically improve treatment success rates and overall outcomes. As a screening tool, the Nu.Q® Vet Cancer Test could potentially revolutionize the approach to canine health maintenance, especially in a country where pet care is highly prioritized.
From a veterinary perspective, the ease of integration of this test into routine wellness visits is an advantage, as it encourages preventive health practices. However, the efficacy of the Nu.Q® Vet Cancer Test in a real-world setting, its sensitivity and specificity and its cost-effectiveness compared to existing diagnostic methods will be critical to its adoption by veterinarians and acceptance by pet owners.
Moreover, the educational efforts required to inform veterinarians about the benefits and limitations of the test will be important for its proper utilization. It's important to ensure that the test does not replace but rather complements existing diagnostic modalities and that it is used as part of a broader diagnostic strategy.
VolitionRx Limited's entry into the Japanese market through a supply agreement with Fujifilm Vet Systems is a strategic expansion that could impact the company's revenue growth and market share in the Asian region. The veterinary diagnostics market, particularly for cancer screening, is a growing industry and Japan presents a significant opportunity due to its developed economy and high pet ownership rates.
Investors should monitor the adoption rate of the Nu.Q® Vet Cancer Test post-launch, as it will be an indicator of the product's market penetration and potential impact on Volition's financials. The cost structure of the test, pricing strategy and any potential volume discounts offered to Fujifilm Vet Systems will affect the profitability of this venture.
It is also important to consider the scalability of production and supply chain management, as these will be critical in meeting the demand and maintaining the quality of the test. Any disruption or inefficiency could negatively affect the company's reputation and financial performance.
Long-term, the success of this agreement could pave the way for further expansion within Asia and possibly lead to additional partnerships or product offerings. However, investors should remain cautious of potential risks, such as regulatory changes, market competition and the overall economic climate that could affect the pet healthcare industry.
HENDERSON, Nev. , March 20, 2024 /PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company, has agreed a supply agreement with Fujifilm Vet Systems Co. Ltd ("Fujifilm Vet Systems"), a leading veterinary diagnostic laboratory service, to launch the Nu.Q® Vet Cancer Test to veterinarians in
Volition's supply agreement enables Fujifilm Vet Systems to sell and perform cancer screening services for dogs using the Nu.Q® Vet Cancer Test throughout its network of central reference laboratories in
Dr. Tom Butera, Chief Executive Officer, Volition Veterinary Diagnostics Development LLC said: "We are thrilled to be expanding into the Japanese market with Fujifilm Vet Systems. It is the country's leading veterinary diagnostic laboratory service with a network of ten laboratories, supplying veterinary clinics and hospitals nationwide.
"Through Fujifilm Vet Systems, Japanese veterinarians will have access to a cutting-edge test to help detect cancer in its early stages, leading to better outcomes and improved patient care. Our Nu.Q® Vet Cancer Test is a simple, easy-to-use, blood screening test that can be easily integrated into preventive care programs and used alongside other routine bloodwork during regular wellness visits."
Dr. Jasmine Kway, Chief Executive Officer of Singapore Volition added:
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Kiyotaka Fujiwara, Chief Operating Officer at Fujifilm Vet Systems, said: "We are delighted to add the Nu.Q® Vet Cancer Test to our diagnostic service portfolio and expand our wellness testing offer to Japanese veterinarians. We will notify our customers as soon as the test is available for purchase."
About Volition
Volition is a multi-national epigenetics company focused on advancing the science of epigenetics. Volition is dedicated to saving lives and improving outcomes for people and animals with life-altering diseases through earlier detection, as well as disease and treatment monitoring.
Through its subsidiaries, Volition is developing and commercializing simple, easy to use, cost-effective blood tests to help diagnose and monitor a range of diseases, including some cancers and diseases associated with NETosis, such as sepsis. Early diagnosis and monitoring have the potential not only to prolong the life of patients, but also improve their quality of life.
Volition's research and development activities are centered in
The contents found at Volition's website address are not incorporated by reference into this document and should not be considered part of this document. Such website address is included in this document as an inactive textual reference only.
About FUJIFILM VET Systems
FUJIFILM VET Systems provides testing services centered on health checkups to veterinary medical facilities nationwide. We can also handle specialized examinations that cannot be performed at veterinary hospitals. In addition, we have established contract laboratories at 10 bases in
Media Enquiries:
Louise Batchelor/Debra Daglish, Volition, mediarelations@volition.com +44 (0)7557 774620
Safe Harbor Statement
Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to, among other topics, Volition's estimated market opportunity, the effectiveness of Volition's blood-based diagnostic, prognostic and disease monitoring tests, and Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases as well as serving as a diagnostic, prognostic or disease monitoring tools for such diseases. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties, including, without limitation, results of studies testing the efficacy of its tests. For instance, if Volition fails to develop and commercialize diagnostic, prognostic or disease monitoring products, it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic, prognostic or disease monitoring products Volition might develop; Volition's failure to secure adequate intellectual property protection; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics and disease monitoring market and its rapid technological change; downturns in domestic and foreign economies; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Nucleosomics™ and Nu.Q® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners.
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SOURCE VolitionRx Limited
FAQ
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