After signing a global supply agreement, VolitionRx Limited (NYSE: VNRX) increased 19.31% to $1.73 in the current market on Thursday.
Which contract has VNRX signed?
A market leader in pet healthcare and VolitionRx (VNRX) has signed a global supply agreement, the company said today (the “Company”).
Through its network of reference laboratories for cancer indications in animal health, VolitionRx is contracted by Volition as a global provider of the Nu. Q Vet Cancer Test under the terms of the supply agreement.
In the United States, there are about 84 million pet dogs, and just under half of them will visit a veterinarian at least once a year. According to Volition, this presents a fantastic opportunity to screen senior dogs (those older than 7 years) and breeds that are susceptible to cancer from the age of 4 onward.
The Nu.Q Vet Cancer Test was created with the intention of offering a practical and reasonably priced screening test to help in early diagnosis. As VNRX works to commercialize its Nu.Q technology within the companion animal healthcare industry and take advantage of substantial mass market prospects, this supply deal is an exciting development. VNRX is excited to be collaborating with them since they are on a mission to advance veterinary medicine. In the upcoming months, VNRX will provide further details, including anticipated test availability dates.
In order to assist in the diagnosis and monitoring of a variety of life-altering illnesses, including cancer in both people and animals, Volition is creating straightforward, user-friendly, affordable blood tests.
In connection with Xenetic’s previously announced partnership with VolitionRx and CLS, Xenetic Biosciences recently announced the signing of a patent assignment from CLS Therapeutics, Inc. (“CLS”) to Xenetic. Additionally, Xenetic will provide CLS 850,000 shares of common stock in exchange for the patent assignment.
How will VNRX develop?
The partnership between Xenetic and VNRX is an early exploratory program to assess the potential for combining Xenetic’s DNase-Armored CAR T platform with Volition’s Nu.Q technology to create proprietary adoptive cell therapies that may target a variety of solid cancers for which current CAR T cell therapies have had little to no success. VolitionRx (VNRX) will support a research program as per the provisions of the partnership agreement, and the two parties will split any profits from the commercialization or licensing of any products resulting from the collaboration.