Nanostics, a precision health company developing diagnostic tests with its ClarityDX platform technology, announced that it received an investment from the University of Alberta Innovation Fund (UAIF) to help drive the adoption of Nanostics’ ClarityDX Prostate test in North America.
About one in eight men will be diagnosed with prostate cancer in their lifetime. And 1 in 30 men will die from the disease. When detected early, prostate cancer is one of the most successfully treated kinds of cancer. However, the current screening method – the prostate-specific antigen (PSA) test – has low specificity for aggressive prostate cancer and leads to over-detection and over-treatment. With PSA alone as a screening tool, patients may opt for unnecessary, invasive prostate biopsies and treatments with potentially harmful side effects.
The ClarityDX Prostate test (launched in Canada in September 2023) is available for patients from Nanostics’ accredited clinical laboratory in Edmonton, Alberta. And this blood test, which uses biological data, clinical information, and machine learning models to generate a risk score for aggressive prostate cancer, marks a significant advancement in prostate cancer screening. It offers critical support to men and their healthcare providers in making more informed decisions about whether additional screening is required following a high prostate-specific antigen (PSA) test result.
This funding will expand access to ClarityDX Prostate across North America and support the expansion of its product pipeline, including the development of ClarityDX Bladder, a minimally invasive bladder cancer diagnostic test.
KEY QUOTES:
“This support from the University of Alberta Innovation Fund will help us continue to promote the use of the ClarityDX Prostate test by men suspected of prostate cancer. Detecting aggressive prostate cancer early is critical to improve patient outcomes and quality of life.”
- John Lewis, CEO of Nanostics and Bird Dogs Chair of Translational Oncology at the University of Alberta
“The Nanostics team is well positioned to tackle critical diagnostic needs in prostate cancer while expanding their product pipeline to help address other unmet clinical needs. We are delighted to partner with an Alberta-based company that has global ambitions to address health concerns while leveraging their innovative AI technologies.”
- Sheetal Mehta Walsh UAIF CEO
