Shares in Pacific Edge bounced more than 11% on the news, to 43c. The commercial agreement was the first to be signed by Pacific Edge in Singapore, where the company has a base investigating opportunities for its tests around Southeast Asia.
The deal is with Raffles Medical Group which operates Raffles Hospital in Singapore and is a private healthcare provider in Asia, with medical facilities in 13 cities in Singapore, China, Japan, Vietnam and Cambodia.
The group cares for more than 2million patients.
Pacific Edge chief executive David Darling said while Singapore was a relatively small commercial proposition for Pacific Edge, it was a significant stepping stone into the Raffles Medical Group across Southeast Asia.
"The region remains an exciting proposition for Pacific Edge with approximately 9500 urologists and an estimated 1.8million potential tests," Mr Darling said.
Other "user programmes" studying Pacific Edge’s products were being run in the majority of the large private hospitals in Singapore, with the focus on them becoming commercial customers once the studies were completed.
Pacific Edge’s commercial focus remains in the United States, where it has established a testing laboratory and sales workforce, targeting some of the 11,000 urologists and health providers who, collectively, have tens of millions of patients under their care.
