Oncgnostics GmbH retains Biotech Alliances International Inc. to support global partnering and distribution strategy.
2018-10-02 San Francisco/Jena, Germany:
Biotech Alliances International Inc., a Silicon Valley-based healthcare-focused investment bank, announced today that it will serve as the lead investment banker to Oncgnostics globalisation and partnering strategy.
Early detection of cervical cancer is critical for patient’s health and survival. Current diagnostic methods are inefficient and fail to detect 50% of the cases of cervical cancer. Failure in precision detection of cervical carcinoma leads to unsuccessful as well as unnecessary treatments. Therefore cervical cancer still is a significant problem for patients and health care systems.
Oncgnostics GmbH, a Jena/Germany based company, has developed GynTect® for precision detection of cervical cancer. GynTect® was tested and validated in clinical trials on more than 3,000 samples with a remarkable detection score of 100% in all cervical cancer cases. Moreover, GynTect® identifies all relevant pre-cancerous lesions due to its first-of-a-kind prognostic value.
“Our product GynTect® can eliminate unsuccessful as well as unnecessary treatments in the current screening systems. Poor diagnostics leads to unnecessarily long and intensive patient management resulting in medical complications, psychological burden and high costs“, said Dr. Alfred Hansel, Oncgnostics Chief Executive Officer. By overcoming these shortcomings, GynTect® generates significant economic benefits for national health systems, savings e.g. for German healthcare system are estimated at $300m p.a.
“We are very impressed with Oncgnostics precision diagnostics which can provide superior outcomes for patients by avoiding unnecessary surgery as well as increasing patients survival rates” said Dr. Franck Brinkhaus, CEO of Biotech Alliances International: „We are very proud to welcome Oncgnostics to our growing group of European clients and are looking forward to working with the entire Oncgnostics team on this assignment.“
Oncgnostics technology has been exclusively licensed out in 2017 to Sinopharm Group for the greater China region.
Oncgnostics GmbH, founded in early 2012 as a spin-off from the Jena University women’s hospital, is a molecular diagnostics company specializing in cancer diagnostics. Oncgnostics tests target epigenetic changes, so-called DNA methylations, that typically occur in cancer cells. The patented biomarkers, which are evaluated using a specific algorithm, are the core of the products and provide the basis for the company’s activities.
About Biotech Alliances International
Biotech Alliances International Inc. is a San Francisco-based investment bank serving life sciences companies, private equity and venture capital funds. It provides independent financial and strategic advice including corporate finance, mergers & acquisitions, partnering & licensing, deal sourcing and strategic consulting.
Dr. Franck Brinkhaus
Biotech Alliances International Inc.
(1) 650 868 8511
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