Palm Beach, FL 3/12/12 (StreetBeat) -- Each year, more than 50,000 deaths are attributed to colorectal cancer, making it the second leading cause of cancer death in the United States. The American Cancer Society recommends that every man and woman 50 years of age and older undergo regular screenings for colorectal cancer. Unfortunately, most people forgo testing as an invasive colonoscopy is the gold standard for testing. A study published yesterday in Archives of Internal Medicine titled, “Adherence to Colorectal Cancer Screening” researched peoples’ decisions for screening based upon whether they were presented with a colonoscopy, fecal occult blood test (far less invasive, but not as accurate and requires a stool sample) or given the choice of the two. The study showed a willingness of people to be tested when given options, but also demonstrated peoples’ hesitancy to get a colonoscopy. Only 38 percent of approximately 330 patients moderately at risk for colorectal cancer went through with screening when offered only a colonoscopy as compared to 69 percent of about 330 patients offered both options undergoing a form of screening. With more than 150,000 new cases of colorectal cancer being diagnosed annually, it is clearly important to get screened. The good news for those afraid of the colonoscopy’s visual examination of their small and large bowels as an initial testing is that new therapies are coming down the pipe as a front line screening. Today, GeneNews Limited (TSX:GEN), a company focused on developing and commercializing blood-based biomarker tests for the early detection of diseases and personalized health management, announced that Enzo Clinical Labs, a division of Enzo Biochem, Inc. (NYSE:ENZ), has launched ColonSentry®, the world's first blood test to assess an individual's current risk for colorectal cancer.
It was only six weeks ago that Enzo Clinical Labs received approval from New York State's Department of Health to market ColonSentry®. Enzo has exclusive rights to market the ColonSentry® test in the states of New York and New Jersey.
While some physicians only offer the colonoscopy as an option because other standards today are not as accurate, it should be duly noted that if a colonoscopy scares a patient away from undergoing any testing, then it doesn’t matter how accurate it is. Less invasive initial testing could be a key to coaxing (or even demanding) an at-risk patient to pursue further examination.
That premise was reiterated and expanded upon in a statement today by Gailina J. Liew, President and Chief Operating Officer of GeneNews. "Colonoscopy is widely regarded as the gold standard for colorectal cancer detection. As a risk stratification test, ColonSentry® may facilitate a decision to undergo colonoscopy for those who would otherwise refuse the procedure. It can also help prioritize patients at greater current risk for colorectal cancer in healthcare systems with limited colonoscopy capacity. Widespread adoption of the test could lead to earlier detection of colorectal cancer, improved patient outcomes and reduced healthcare costs."
The launch is an important milestone for GeneNews as it marks its entry into the U.S. markets for its proprietary Sentinel Principle® platform technology. The ColonSentry® product is already being used in Canada and the Far East. Sentinel Principle® has been used to effectively discover new blood-based biomarkers for other diseases as well, including nasopharyngeal carcinoma and schizophrenia.
In addition to its partnership with Enzo, GeneNews also has strategic partnerships with Gamma-Dynacare, one of Canada’s largest and most-respected providers of top-quality medical-diagnostic laboratory services, information and products; and Shanghai Biochip, a leading Chinese engineering center for advanced microarray and gene expression profiling technologies.
GeneNews and partner Enzo could be making some major headway in oncology with their new testing procedure that could have a substantial impact on revenue in the near term. Shares of GeneNews have appreciated mildly with this afternoon’s news - trading ahead by 4% at 13 cents - but remain near all-time lows; giving appeal to this company who is trying to take some of the unattractiveness out of colorectal cancer screening. Proper due diligence is, as always, encouraged.
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