Rhythm Biosciences Limited (ASX:RHY)
Rhythm Biosciences Limited (ASX:RHY) is focused on becoming a transformative, predictive diagnostics company, specialising in cancer detection technology.
The Company is currently developing ColoSTAT - a simple, low-cost, blood test for global mass market detection of colorectal cancer.
Worldwide, colorectal cancer is the third most common cancer in men and the second most common in women, accounting for an estimated 1.9 million new cases and more than 900,000 deaths annually. In an effort to reduce the global burden, many countries have implemented screening programs aimed at early detection. These programs are predominantly administered with a faecal immunochemical test (FIT) for the assessment of colorectal cancer risk, with a positive result referred for a colonoscopy. FIT only analyses the presence of blood in faeces, which can occur for several reasons other than cancer, therefore it is not designed as an accurate test for cancer. Many people simply dont take the test for fear of an unnecessary colonoscopy procedure, unpleasantness, difficulty, or for religious/cultural reasons. There is currently no appropriate blood test alternative.
Rhythm aims to transform the global mass-market for colorectal cancer detection with ColoSTAT, its simple, low-cost blood test that is fit for purpose i.e. it is designed to actually detect colorectal cancer.
Early detection and intervention can lead to cure in over 90 per cent of new cases, therefore the need for effective screening and early intervention has the potential to save a significant number of lives. Rhythm estimates todays colorectal cancer screening market alone to be worth in excess of $38 billion.