CDTI funds Pangaea Oncology project on liquid biopsy & multiplex analyses for cancer diagnostics
Barcelona, May 11, 2017 - CDTI (Center for Industrial Technological Development) has granted a loan to finance the Pangaea Oncology project "Development of multiplexed liquid biopsy diagnostic panels and expansion of the point mutation test in blood for monitoring of patients with non-small cell lung cancer." This project is part of Pangaea’s strategy of investing in R+D+i via its Cancer Molecular Diagnostics program, with a special focus on liquid biopsy. The project, which began on January 1st 2017, will run for three years and focuses on extending the clinical applications of its proprietary liquid biopsy test, as well as developing a multiplexed diagnostic test (several genes).
Pangea Oncology is a leader in the development and clinical application of noninvasive diagnostic tests in alternative biological materials such as cerebrospinal fluid, serum or plasma and platelets. The liquid biopsy allows performance of vital diagnostic tests in cancer patients for whom sufficient tissue material is unavailable. Liquid biopsy has also proven utility in monitoring patient response and resistance to therapies without the need for invasive procedures, reducing patient discomfort, accelerating diagnosis and reducing associated hospital costs.
Today, in cancer diagnostics it is vital to identify and characterize an ever-growing list of genetic alterations involved in the development of cancer that can serve as predictive or prognostic biomarkers for the application of increasingly effective personalized treatments. However, sequential complete analyzes of several genes can lead to delays in diagnosis and thus initiation of treatment, or may even be unfeasible due to lack of sample material. To overcome these challenges, Pangea Oncology has implemented a range of more efficient and affordable multiplexing methodologies that provide a complete genetic profile of each patient's tumor and thus valuable information to guide treatment selection.
CDTI will finance 75% of the total project budget (1,774,396 euros, out of a total of 2,365,862 euros) through a 10-year 0% interest rate loan.