Oncimmune Holdings (AIM: ONC ) said its Brazilian distributor has received authorisation for its lung cancer detection blood test, presenting the opportunity for sales in the country.
The global immunodiagnostics firm said its distributor, Valentech International’s marketing authorisation for the EarlyCDT Lung product has been put into effect immediately.
Brazil presents a significant market opportunity for EarlyCDT Lung. There remains a high unmet need for new technologies to detect lung cancer which holds the highest mortality rate of any cancer in the country.
Figures for 2018 showed that 34,000 people were diagnosed with lung cancer and that almost 32,000 deaths were reported from the disease in the same year.
Shares in Oncimmune Holdings were trading 3.16% higher at 130.5p on Wednesday morning.
“Survival rates from lung cancer can be increased significantly with earlier detection of the disease,” said Dr Adam M Hill, CEO of Oncimmune.
He added, “We are delighted that EarlyCDT Lung can now be made available in this large market, where the need is so great."
Oncimmune originally signed its first distribution agreement in the South America region with Valentech for Brazil and Colombia in 2018.
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