VolitionRx

Company Overview

VolitionRx, founded in 2010, is developing and commercializing liquid biopsy cancer diagnostics based on a proprietary NuQ technology. NuQ detects the level and structure of nucleosomes from a single drop of blood serum.

Nucleosomes are units of DNA packaging, which include two turns of DNA wrapped around proteins called histones. After cell death, DNA strands are broken up into single nucleosomes. In cancers, there is a high level of cell death, and so nucleosome levels will increase in the blood of cancer patients.

Nucleosomes in the blood can also increase due to other, non-cancer causes, including infectious diseases or organ-related issues. VolitionRx’s NuQ platform addresses this by testing for specific forms of nucleosomes that are only associated with cancer.

In early January 2020, the NuQ assays were re-engineered from an ELISA plat format that provided a traditional colorimetric endpoint to a magnetic particle-based assay format that gives a luminescent endpoint. Luminescent assays are thought to be very sensitive and have a wide dynamic range; the magnetic particle-based assay format showed a 10 to 20-fold improvement in analytical sensitivity and reduced turnaround time from six hours to 80 minutes.

The new format has enabled the use of NuQ on a wider range of commercial, fully automated platforms. The FDA approved an automated immunoassay analyzer with all of the above improvements for clinical use in the U.S. and Europe.

VolitionRx has developed eight different bead-based NuQ assays that will be used in clinical studies, including for lung cancer, colorectal cancer and hematopoietic cancer.

In January 2020, Volition acquired Octamer GmbH, giving it the capability to manufacture recombinant nucleosomes, a key component of Volition’s NuQ tests, in-house. This acquisition contributed to securing Volition’s supply chain and thus helps to speed up assay development work.

In February 2019, Volition partnered with Texas A&M University and formed a new subsidiary, Vetco, which focuses on the veterinarian diagnostics market. The goal of this company is to provide all veterinarian clinics with blood tests than help identify diseases early.

In January 2021, VolitionRx launched its project, Epigenetic Modifications of Nucleosomes Associated with Cancer. To support this project, VolitionRx received approximately $4 million from the government of the Wallon Region and Belgian venture capital investor Namur Invest. Included in the work project is the research and technology transfer for the production of recombinant nucleosomes as well as further development of a nucleosome immunoprecipitation method.

In January 2021, VolitionRx partnered with 4D Lifetech to evaluate whether combining their respective assay technologies can improve early-stage cancer detection. The partners agreed to conduct a clinical validation trial using their platforms on a set of lung cancer clinical samples.

Financial Highlights (FY 2023)

Company's Business Segments

• Service : The Company includes revenue recognized from laboratory services performed in the Company’s laboratory on behalf of third parties under “Service” under the consolidated statements of operations.
• Product : NuQ Vet, NuQ NET, NuQ Discover, NuQ Cancer, Capture-PCR
• Royalty : The Company receives royalty revenues on the net sales recognized during the period in which the revenue is earned, and the amount is determinable from the licensee.