STRATEGICOBJECTIVES INOVIQ is driving intelligent innovation in the diagnostic and exosome markets to improve health outcomes for patients with cancer and other diseases. INOVIQ is using its proprietary biomarker isolation and detection technologies, and a multiomics approach to develop next-generation precision diagnostics for the screening, diagnosis, treatment selection and monitoring of cancer and other diseases. The Company has unique technologies, in-market products and a strong development pipeline of exosome capture tools and precision diagnostics intended to improve patient health outcomes in important unmet needs for the earlier detection and monitoring of breast cancer, ovarian cancer and other diseases. INOVIQ remains focused on its vison to be a leading exosome and precision diagnostics company delivering next-generation products to improve patient health outcomes and help save lives. The Group’s key objectives identified in its 3-year strategic plan (set in 2020) are to: Accelerate development of lead SubB2M tests Accelerate development of fast-to-market SubB2M tests for detection and monitoring of breast and ovarian cancers as Laboratory Developed Tests (LDTs) in the USA. Build an exosome liquid biopsy pipeline Build a next-generation exosome diagnostics pipeline using the Group’s EXO-NET technology for early detection of cancer, other serious conditions and companion diagnostic applications. Expand product indications Implement a risk-based, stepped approach to gaining regulatory clearance/approvals for in vitro diagnostic (IVD) products based on obtaining clearance for monitoring uses first, before conducting further clinical studies to expand indications to screening uses in highrisk and then average-risk patient populations. Expand technology applications Expand applications for the Group’s proprietary technologies to areas of significant unmet need in the screening, diagnosis, prognosis and monitoring of various cancers and other diseases to improve patient outcomes and save lives. Commercialise products through partnering Commercialise pipeline products through partnering of LDTs with clinical laboratories and IVDs with specialised distributors to expand international reach and support sales, marketing and distribution of the Group’s diagnostic tests. Generate multiple revenue streams Generate future revenue streams through increased market penetration of the Group’s existing hTERT product, sales of the EXO-NET capture tool for research applications, potential future licensing deals for use of the Group’s IP for diagnostic and therapeutic applications and potential future commercialisation of the Group’s cancer diagnostics pipeline in key markets. These initiatives are aimed at growing long-term shareholder value through accelerating the commercialisation of the Group’s lead diagnostics, building a multi-product pipeline, diversifying risk across multiple applications and creating a sustainable revenue generating business. CANCERDIAGNOSTICSMARKET The global cancer burden is significant with an estimated 50.6 million people living with cancer, 19.3 million new cases and 10.0 million deaths in 2020.1 The incidence of cancer is expected to rise to 28.4 million new cases by 2040 due to population aging and growth. The most common diagnosed cancers worldwide were breast (11.7% of all new cases), lung (11.4%), colorectal (10.0%), prostate (7.3%) and stomach (5.6%) cancers. Cancer is a leading cause of premature death with the highest burdens in China, Europe and North America. The cancer burden can be reduced by improved prevention, early detection, availability of cancer screening programs and effective treatment to improve patient outcomes and reduce mortality. Diagnostics for earlier detection and monitoring could improve treatment options, patient outcomes and survival for this expanding public health crisis. INOVIQ is targeting cancer diagnostic market segments currently valued at over US$15 billion globally for some of the world’s most common and deadliest cancers including breast, ovarian and other cancers. Reviewof Operations 1 Sung H et al. Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence andMortalityWorldwide for 36 Cancers in 185 Countries. CA Cancer J Clin. 2021. https://doi.org/10.3322/caac.21660 8 INOVIQ Limited
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