Cizzle Biotechnology Holdings PLC (LSE:CIZ)'s share price jumped 12% following the successful completion of an evaluation of the programme that could eventually lead to the early detection of lung cancer.
The UK-based company, in collaboration with Bio-Techne Corporation, has developed a promising method of picking up the disease in its formative stages.
The test uses ProteinSimple's technology to identify a specific cancer marker, CIZ1B, which could revolutionize how quickly and accurately lung cancer is diagnosed.
This breakthrough comes at a time when the global market for lung cancer screening is expected to grow from US$2.8 billion in 2021 to US$4.85 billion by 2028.
Additionally, new US guidelines have expanded the number of people eligible for early lung cancer screening, potentially saving an extra 10,000 to 20,000 lives each year.
At 9.18 am, Cizzle stock was changing hands for 1.96p, up 0.21p.