A second cancer diagnostic tool has been added to the stable of Pacific Edge Biotechnology after successful clinical trials in Europe.
Chief executive David Darling described the colorectal cancer prognostic gene signature trial results as a "significant commercial milestone" for the company and the tool would join its other commercial product, Cxbladder, which detected bladder cancer.
Colorectal was the second most common cancer worldwide, with 1.1 million new cases and 530,000 people dying from the disease each year.
Pacific Edge Biotechnology (Pebl) has developed a tool to identify patients facing aggressive stage two and three phases of the disease, usually following surgery, who would benefit from additional treatment.
"The identification of those patients at greatest risk represents a new tool for clinicians, and effective use of this tool by clinicians could be expected to to lead to better treatment and more lives saved."
There was a high incidence of colorectal cancer in Japan, Australia, New Zealand, Europe and North America.
The findings will be presented to the scientific meeting of the American Society of Clinical Oncology in the United States this month.
Pebl uses genetic tools to create less invasive cancer diagnostic methods, and earlier this year announced it was commercialising a bladder cancer test and might look to shareholders for the $6 million required.
It was also working on tests for gastric, endometrial and prostrate cancer, as well as melanoma.
