Minomic International Ltd has taken a step forward to bring the MiCheck® Prostate test to Australians.
MiCheck® Prostate detects aggressive prostate cancer overcoming the low accuracy of conventional screening tests, reducing unnecessary intervention such as painful biopsies and improving overall management of the patient.
The performance of MiCheck® Prostate is supported by numerous clinical studies, including a recent one at Macquarie University Hospital, that found that MiCheck® Prostate has a sensitivity of 93% and a specificity of 45%.
With testing available now at selected Sonic Healthcare Australia Pathology laboratories, Minomic can offer MiCheck® Prostate to many more Australian men.
Minomic CEO Dr Brad Walsh says the availability of the test will help Australia’s urologists to provide better patient care; “The use of MRI for the detection of prostate cancer, in Australia, has been a revolutionary step forward in the early and accurate detection of this cancer. MRI, when combined with results from MiCheck® Prostate provide urologists with an additional aid in clinical decision-making before proceeding to more invasive investigations such as biopsy.”
“The test is now market ready in both Australia and the US, while China and other markets such as Europe are also in our sights.”
An estimated 25,000 Australian men and two million American men undergo biopsies each year to diagnose prostate cancer after an elevated Prostate-Specific Antigen (PSA) test result. Approximately 50% of these biopsies are unnecessary as the patient does not have cancer or has a low-grade cancer that requires monitoring rather than intervention. In addition, 1-3% of these biopsies can lead to sepsis and death. These unnecessary biopsies lead to patient anxiety and pain that should be avoided.
Prostate cancer remains an ongoing global challenge. Each year around 250,000 men in the US and 20,000 men in Australia are diagnosed with prostate cancer. It is estimated that 1 in 8 males will be diagnosed with a prostate cancer in their lifetime.
Minomic opened a capital raise earlier this year to take the test to market in both Australia and the US ahead of a planned stock market listing in 2023. Last year it received a $400,000 co-investment from the Advanced Manufacturing Growth Centre’s (AMGC) Commercialisation Fund and the Federal Government’s Modern Manufacturing Initiative.
Minomic has established a US based marketing team and obtained a CLIA license enabling availability of MiCheck® Prostate in the world’s largest healthcare market.