Detecting cancer at its earliest stage is one of the single, most important facts behind survival rates of most cancers. Researchers spend day after day toiling away working on solutions to aid in the fight against cancer, but early diagnosis still holds a high position on the totem pole of hope.
A 2008 article in Wired magazine contained a cover story about early cancer detection and increased survival rates. In a bold, yet honest argument, the article contests that "scientists should stop trying to cure cancer and start focusing on finding it early."
Citing an example of the importance of early knowledge before cancer cells can run rampant, the article noted a case of ovarian cancer, wherein the 10-year survival rate when caught in stage I or II is almost 90%, while the survival if diagnosis occurs in latter stages drops dramatically to a meager 20%.
Joining in this battle is cancer diagnostics company Biomoda, Inc. (OTCBB:BMOD). The Albuquerque, New Mexico-based company is focused on the development of accurate, inexpensive and noninvasive tests for the early detection of cancer. Biomoda is developing its first product for lung cancer, but also has diagnostic assays for cervical, breast, colorectal, bladder, and oral cancers slated for additions to its portfolio in the future.
Biomoda’s business model is enveloped by the premise that "early detection of cancer saves lives," a fact that the author of the Wired article, as well as many late-diagnosed cancer patients, can certainly appreciate.
The Company’s flagship product, CyPath® is a diagnostic based on molecular marker technology developed at Los Alamos National Laboratory. As mentioned, Biomoda’s initial product targets lung cancer, the leading cause of cancer deaths worldwide. The product is still in early stages of clinical trials, but Biomoda anticipates that upon FDA approval, simple in-vitro test for early detection of lung cancer will be a reality. Without even considering the humanitarian benefits, the Company expects to provide compelling value to the healthcare system through cost savings and improved patient outcomes.
Today, Biomoda took a significant step for a developmental firm in securing more of its intellectual property; the most valuable component of upstart biotechs. The firm announced that it has received Notice of Allowance for a U.S. Patent issued that expands on use of the CyPath® assay to include patient response to cancer therapy during the treatment phase of the disease.
This new issue is an extension to a previous patent awarded to Biomoda in 2005 and beefs up the Company’s patent portfolio to four U.S. patents and foreign patent rights in Canada, Japan, Mexico and Australia. Patent rights are pending before the European Patent Office.
While it may seem a bit off the beaten path to early detection, a closer look at the patent runs consistent with the overall 'cancer-battle' mentality of Biomoda. Quite simply, this IP contains the possibility to detect if a cancer drug is working or not. Let’s not forget that time is of the essence in trying to stop cancer in its tracks, so knowing as soon as possible if a drug is displaying efficacy of not is crucial.
Commenting on the patent, Biomoda President John Cousins stated, "Our pilot clinical study demonstrated the CyPath® assay’s utility as a cancer diagnostic. We expect the unique properties of the CyPath® labeling solution that allow it to bind to cancer cells and cause them to fluoresce can also play a significant role in determining the efficacy of cancer treatment.
"Doctors will be able to take fluid or tissue samples at intervals during chemotherapy, treat them with the CyPath® solution and compare the results to the baseline assay to see if the percentage of cancerous and abnormal cells is moving in the right direction."
The investment community sprang to life with today’s news as shares of BMOD surged northward and volume more than doubled the best day the company has seen in the last year. Looking at the close, more than 19 million shares of BMOD have changed hands and the stock is still holding gains in excess of 40%, despite pulling well off its highs of the day at more than four cents per share.
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