Oncimmune Holdings PLC (LON:ONC) has shared the findings of a report that showed its EarlyCDT Lung product is more cost-effective than the current method of diagnosis - computed tomography (CT) surveillance.
In fact, the study, led by Leeds University Academic Unit of Health Economics, said the test sped up the process of discovery too.
The company’s technology had an incremental cost-effectiveness ratio of less than £2,500 when compared with CT surveillance, the Leeds report concluded.
Oncimmune's EarlyCDT Lung product uses a simple enzyme-linked immunosorbent assay, or ELISA blood test that measures seven lung cancer-specific antibodies and can be used for the assessment of malignancy risk in patients with indeterminate pulmonary nodules.
Robust and easy to use, EarlyCDT Lung can be run in any laboratory with standard equipment and, to date, over 158,000 tests have been performed for patients worldwide.
A kit form of the test was given EU approval in the form of a CE Mark in May 2017 for distribution outside the US.
Oncimmune's chief executive, Dr Adam Hill, said he was “very pleased” with the survey results.