Core Insights - VolitionRx Limited is presenting its Nu.Q® Vet Cancer Test at the Asian Meeting of Animal Medicine Specialties (AMAMS 2025) in Thailand, highlighting its potential as a diagnostic tool for veterinary oncology [1][2] - The test has shown promise in differentiating between benign and malignant conditions, particularly Canine Chronic Enteropathy and Gastrointestinal Lymphoma, according to Dr. Masahiko Sato [2] - The company aims to enhance awareness and adoption of the Nu.Q® Vet Cancer Test through clinical research and presentations by leading veterinarians [2] Company Overview - Volition is a multi-national epigenetics company focused on advancing the science of epigenetics to improve outcomes for people and animals with life-altering diseases through earlier detection and monitoring [3] - The company is developing cost-effective blood tests for various diseases, including cancers and conditions associated with NETosis, with the goal of prolonging life and improving quality of life for patients [4] - Volition's research and development activities are primarily based in Belgium, with additional facilities in the U.S. and London [5]

Core Insights - VolitionRx Limited is focusing on commercializing its Nu.Q® platform in the human diagnostics market, with ongoing discussions with over ten companies, whose combined market value exceeds $600 billion [2][25]. - The Total Addressable Market (TAM) for cancer and sepsis diagnostics is approximately $25 billion annually, presenting substantial revenue opportunities for the company and its partners [3][25]. - The company has successfully raised $4.2 million through direct registered offerings, primarily from existing shareholders, demonstrating strong insider support [4]. Cancer Diagnostics - Significant progress has been made in the commercialization of cancer diagnostics, with two major companies in active negotiations regarding Nu.Q® and Capture-Seq™ technologies [5]. - A pivotal lung cancer screening study in Taiwan is advancing, with the potential market for the Nu.Q® test exceeding $1 billion across Taiwan, the U.S., U.K., and France [6][25]. - The Nu.Q® NETs program has shown strong clinical promise, with two large-scale studies completed, indicating a strong mortality signal and a link to organ failure [7]. Commercialization Efforts - Licensing discussions for Nu.Q® NETs are progressing well, with several companies completing technology transfers [8]. - The company recorded its first revenue for the CE-Marked Nu.Q® NETs automated product in Europe, with nine hospitals placing orders [9]. - The expansion of the Nu.Q® Vet Cancer Test is a priority, with supply agreements in place with leading industry players [10]. Revenue Growth Strategies - Central lab automation is being implemented to enhance revenue growth and meet increasing demand for the Nu.Q® Vet Cancer Test [11][12]. - The Nu.Q® Discover platform has achieved commercial milestones, including the first sale of a High Throughput Synthetic Sepsis Model, with discussions ongoing for additional projects [13][14]. - A collaboration with a leading pharmaceutical company for a human clinical study utilizing Volition's biomarkers has been established, highlighting the value of biomarkers in drug development [15]. Future Outlook - The company aims to double revenue in the Nu.Q® Discover pillar in 2025, supported by a growing customer base [16]. - The focus for the remainder of 2025 is to secure multiple licensing agreements in the human diagnostics space, mirroring the successful strategy in the veterinary market [19]. - The company is committed to achieving commercial partnerships for human applications, which is a long-term mission [20].

Core Insights - The company aims to generate sufficient clinical data in 2024 to convince major players in the diagnostic and liquid biopsy markets of the significance of its Nu.Q® platform in oncology and sepsis [1] - In 2025, the focus will shift to signing multiple licensing deals for human indications, with strong interest from large companies for potential out-licensing and supply agreements [2] Financial Highlights - The company reported revenue of $1.2 million for 2024, representing a 59% increase compared to the previous year [7] - Nu.Q® Vet revenue increased by 75%, while Nu.Q® Discover revenue rose by 40% compared to 2023 [7] - Operating expenses decreased by 23% year-over-year, with a 31% reduction in the second half of 2024 [7] - Cash and cash equivalents as of December 31, 2024, totaled approximately $3.3 million, with additional funding of $1.8 million received post-year-end [7] Product Development and Market Expansion - Approximately 120,000 Nu.Q® Vet Cancer Tests were sold in 2024, with the test now available in over 20 countries [6] - A range of independent studies demonstrating the value of the Nu.Q® platform in sepsis and oncology has been completed [6] - The company is advancing several commercial discussions with significant players in the human diagnostic and liquid biopsy markets, which are valued in the multibillion-dollar range [6] Leadership and Governance - The Board of Directors was strengthened with the appointment of Timothy Still as Chair and Dr. Ethel Rubin as Independent Director, both bringing significant experience in the diagnostic sector [6]