London-listedsaid that its cancer diagnostics test, Elucigene DPYD, has been approved for sale in Australia as an in vitro diagnostic.
The approval was made by the Therapeutic Goods Administration, the regulatory body for therapeutic goods under the Australian Department of Health.
Yourgene announced the launch of Elucigene DPYD, its first oncology product, in September 2019.
Using a genotyping test, the product can determine cancer patients with dihydropyrimidine dehydrogenase deficiency which can cause severe and sometimes lethal side effects in patients receiving chemotherapy drug 5-Fluorouracil (5-FU).
The deficiency can be a common occurrence for patients undergoing treatment for colon, oesophageal, stomach, pancreatic, breast and cervical cancers, the statement outlined.
Shares in Yourgene Health were trading 1.19% higher at 14.93p during Friday trading.
It is estimated that 20% of over 2 million people who are treated with 5-FU every year will be hospitalised as a result of DPD deficiency, with 1% of those cases being potentially fatal.
The Elucigene DPYD will be sold by Southern Cross as the company’s sole distribution partner in Australia.
“We are extremely pleased to address another market with our first oncology test which has already seen traction in the UK and Europe since its launch in September 2019, and reinforces our strategic plans of product penetration and geographic expansion,” said Lyn Rees, Chief Executive of Yourgene.
Follow News & Updates from Yourgene Health here:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.