PEB
29/02/2016 09:40
GENERAL
NOT PRICE SENSITIVE
REL: 0940 HRS Pacific Edge Limited
GENERAL: PEB: PE gains access to Veterans Administration in USA
29 February 2016
PACIFIC EDGE SIGNS FEDERAL SUPPLY SCHEDULE AGREEMENT
The USA subsidiary of global cancer diagnostics company, Pacific Edge Limited
(NZX:PEB), has signed a Federal Supply Schedule (FSS) agreement with Veterans
Administration, which will allow the company to market its innovative,
non-invasive bladder cancer detection technology, Cxbladder, to the Veterans
Administration (VA), the nation's largest integrated health care system.
The FSS contract will provide access to Cxbladder for the 8.8 million
veterans currently enrolled in the VA across 1700 sites. In addition, the
contract also provides access to Cxbladder tests at the 150 US Department of
Defense (DOD) facilities across the United States.
Chief Executive of Pacific Edge, David Darling, said: "This is an exciting
development for Pacific Edge in the United States and another significant
commercial milestone for our company. The VA is one of our targeted three
large customers for this market and could eventually become one of our
largest customers in the USA. It is a separately funded federal program for
veterans and their families and is recognised as a large and unique
organisation. This contract adds to our commercial momentum in the United
States and increases our penetration of this key market.
"The FSS contract award is a lengthy and iterative process. Following this
signing of the agreement, the VA will issue the contract award documentation
and we will begin engaging with the key stakeholders within the many VA and
DOD centers to ensure that Cxbladder is available to physicians and their
patients."
The USA sales force has recently increased to 18 dedicated sales executives
operating in key geographic regions, who will now be able to work with the VA
and DOD facilities and their healthcare providers to secure access to
Cxbladder.
Pacific Edge launched commercial operations in the United States, the world's
largest healthcare market, in mid-2013. Laboratory through-put and revenue
are tracking to the company's expectations following an active direct sales
and marketing program to clinicians and healthcare organisations.
Pacific Edge will continue to develop and commercialise its portfolio of
cancer detection tests with a view to initially commercialising those
technologies in New Zealand, followed by the USA and other markets. Further
developments of the Cxbladder technology are underway, with a third test,
Cxbladder Monitor, to be released in the United States this year, following
its launch in New Zealand in December 2015. Cxbladder Predict is planned for
launch in late 2016.
ENDS
For more information contact:
David Darling
Chief Executive Officer, Pacific Edge Ltd, P: +64 (3) 479 5800
OVERVIEW www.pacificedge.co.nz www.pacificedgedx.com
Pacific Edge Limited (NZX: PEB) is a New Zealand publicly listed, cancer
diagnostic company specialising in the discovery and commercialisation of
diagnostic and prognostic tests for better detection and management of
cancer. The company is developing and commercialising its range of Cxbladder
bladder cancer tests globally through its wholly owned central laboratories
in New Zealand and the USA. The company's products have been tested and
validated in international multi-centre clinical studies. Pacific Edge has
two proprietary, novel, accurate, molecular diagnostic products in-market
providing actionable results, and better detection and management of
urothelial cancer. Cxbladder Detect is available through the company's
dedicated CLIA certified laboratories for customers in New Zealand, Australia
and the USA. Cxbladder Triage is available in New Zealand and Australia.
Cxbladder Monitor launched in New Zealand in December 2015 and is anticipated
being available in the US in 2016.
ABOUT Cxbladder Triage www.cxbladder.com
Cxbladder Triage combines the power of the genomic biomarkers with additional
phenotypic and clinical risk factors to accurately identify patients with
haematuria who have a low probability of bladder cancer and may not require a
more extensive urological evaluation. Cxbladder Triage is a tool for use by
clinicians and physicians in primary evaluation of patients with hematuria
and is intended to reduce the need for an expensive and invasive work-up in
patients who have a low probability of having urothelial carcinoma.
ABOUT Cxbladder Detect www.cxbladder.com
Cxbladder Detect enables the non-invasive detection of bladder and other
urinary tract cancers from a small volume of a patients' urine. Cxbladder
Detect was launched in 2013 in the USA and is commercially available in New
Zealand, Australia and the USA as a Laboratory Developed Test (LDT) from the
company's CLIA certified laboratories. Cxbladder Detect provides physicians
and clinicians with a quick, cost effective and accurate measure of the
presence of the cancer as an effective adjunct to cystoscopy.
ABOUT Cxbladder Monitor www.cxbladder.com
Cxbladder Monitor, the third test in the Cxbladder portfolio for urologists,
is a proprietary, non-invasive, molecular diagnostic test that combines
genomic biomarkers measured from a small quantity of a patient's urine, with
patient specific clinical factors to better monitor bladder cancer patients
for recurrence. Bladder cancer has a recurrence rate of 50-80% and requires
life-long surveillance. Cxbladder Monitor accurately identifies patients with
a prior history of urothelial cancer (UC) whose Cxbladder Monitor score shows
that they have a low probability of recurrent urothelial carcinoma. Cxbladder
Monitor is designed to be used as the preferred adjunct test to cystoscopy in
the management of patients for ongoing evaluation of recurrent bladder
cancer.
Refer to www.cxbladder.com for more information.
End CA:00278479 For:PEB Type:GENERAL Time:2016-02-29 09:40:46
