Summary
DiaGenic's new gene-based, molecular diagnostic BCtect assay for breast cancer could increase the number of women tested for this disease and reduce its growing mortality. Breast cancer is the second leading cause of death in Indian women, with over 100,000 dying from this disease each year. This non-invasive blood test could encourage more women to be tested, as opposed to tests that use actual breast tissue.
Analysis
Over 100,000 women in India die from breast cancer every year and over 250,000 new cases are expected by 2015. Breast cancer has a 90% survival rate if detected early, but only 10% of the Indian breast cancer cases are detected at an early stage compared to 65% in developed countries.
DiaGenic ASA (OSL: DIAG) has introduced their BCtest for breast cancer in India. DiaGenic selected Applied Biosystems Inc. (NYSE: ABI) real-time custom TaqMan(r) array for the test. Applied Biosystems and Invitrogen (NASDAQ: IVGN) recently merged to form Life Technologies (NASDAW: LIFE). The assay will be marketed in India by Religare SRL, which is the largest commercial reference lab in South East Asia. A key advantage to this assay is that it uses a non-invasive blood sample for the genetic analysis, as opposed to a breast tissue sample that requires an invasive breast biopsy procedure. This could lead to more women being tested and earlier detection.
DiaGenic joins other companies involved in molecular breast cancer diagnostics. These include Myriad Genetics (NASDAQ: MYGN), Genomic Health (GHDX) and Agendia. Several other companies market women's health diagnostics including Hologic (NASDAQ: HOLX), Qiagen (NASDAQ: QGEN), Gen-Probe (NASDAQ: GPRO) and other privately held companies.
According to a recent report from a leading healthcare market research group, the worldwide market for molecular diagnostics was $18 billion in 2006 and is forecasted to grow to over $92 billion in the next ten years. The US is forecasted to account for approximately half of this revenue, or $46 million. For detailed information on the companies mentioned above and the high growth molecular diagnostics market; please contact your GLG representative to schedule an individual consult.
