Reviewof Operations 7 Stewart,T et al. Differential detection of cancer-derived extracellular vesicles using combined antibody functionalized magnetic beads and infrared spectroscopy. ISEV 2022. 8 Allison et al. Evaluation of Sienna Cancer Diagnostics hTERT Antibody on 500 Consecutive Urinary Tract Specimens. Acta Cytologica 2018. DOI: 10.1159/000489181 On 27 May 2022, Professor Rice presented a poster titled ‘Differential detection of cancer-derived extracellular vesicles using combined antibody functionalized magnetic beads and infrared spectroscopy’, at the 11th International Society of Extracellular Vesicles (ISEV) Annual Meeting in Lyon, France on behalf of INOVIQ and University of Sydney.7 This data showed that direct Fourier Transformed Infrared (FTIR) analysis of EVs captured by EXO-NET was able to classify different cancer cell types. Clinical applications for this method may include accurate disease classification and triage-to-treatment. The poster is available at https:// www.inoviq.com/site/technology/publications. The ISEV conference provided a valuable opportunity to showcase the EXO-NET exosome capture technology and data to potential research collaborators, commercial partners and customers. Post year-end, on 21 July 2022, INOVIQ engaged USbased Percorso Life Sciences to provide sales and logistics services to accelerate the commercial roll-out of EXO-NET research products in the USA. This agreement is a key step toward driving EXO-NET research tool sales in what is the largest geographic market segment for exosome research products globally. The sales force will cover the key east-coast, west-coast and mid-west US regions, and target academia and biopharma customers in its sales and marketing of EXO-NET research tools. Percorso will also provide inventory, logistics and warehousing services. EXO-NET can be ordered from its sales team in the USA or online at www.exo-net.com in the rest of world. The Company continues to engage with other potential commercial partners to distribute EXO-NET RUO in other regions to expand its international reach and support sales, marketing, and distribution of the product for research applications. hTERT ICC test The hTERT test is an immunocytochemistry (ICC) assay registered for the detection of human telomerase reverse transcriptase (hTERT) in cytopathology samples. It is used as an adjunct to urine cytology to help resolve indeterminate cytology results and identify patients with increased risk of bladder cancer. Telomerase is an enzyme used by 85% of epithelial cancers to enable immortal cell replication. This occurs through the role that telomerase plays in the repair of chromosome ends called telomeres. Telomeres normally shorten with each successive cell division until the cell dies in a process called senescence. Telomerase counteracts this telomere shortening process by adding new telomeric repeat sequences, effectively repairing the telomere ends. hTERT is a component of telomerase that is present in 90% of urothelial carcinomas. The hTERT test is registered as an IVDmedical device in the United States (Class I IVD), Europe (CE-IVDmarking), Australia (Class I IVD) and South Korea (Class II IVD) for use as a clinical diagnostic by pathology laboratories for the detection of hTERT in cytopathology samples. It is used by pathologists as an adjunct to urine cytology to help resolve indeterminate cytology results and identify patients with increased risk of bladder cancer.8 The hTERT test is currently earning revenues from the US and is in the early commercialisation phase in other markets. Distributors have been appointed in China, Greece, Israel, Sweden, and South Korea. Revenues from hTERT sales remained lower than preCOVID-19 pandemic levels during FY22, with the Group’s hTERT test achieving revenues of $276,745 (2021: $468,096). While hTERT sales are not expected to substantially increase over the next 12 months, INOVIQ continues to work with its distributors to improve sales and progress hTERT validations by new laboratories. Registration of the hTERT test by the Chinese distributor was delayed at the National Medical Products Administration (NMPA) due to COVID-19 restrictions. HTERT ICC test 12 INOVIQ Limited
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