Cellmid 2017 Annual Report
Lyramid’s diagnostic patents have been licensed to three
groups; Quest, Pacific Edge and Fujikura Kasei. Pacific
Edge developed and commercialised its CxBladder
cancer test and we have been receiving revenue from
the sales since 2015. The other two companies have not
commercialised their diagnostic products as yet.
Pacific Edge, a listed diagnostic company based in New
Zealand, licensed midkine (MK) in 2010 for the use in its
tests for the diagnosis, prognosis and disease management
of bladder cancer. The Company received a total revenue
of $1,221,0448 to date from the Pacific Edge license. This
doesn’t include the royalty payment for the six months
ending 31 March 2017, which was received after the
closing of the 2017 financial year.
Pacific Edge announced the achievement of a number of
material milestones during reporting period, some of these
are listed below. They have also reported a 62% increase
in operating revenue to $8.1 million for the 2017 financial
year (ended on 31 March 2017).
In October 2016 Pacific Edge became Approved Provider
to Tricare Health Plan Networks in the US, which provides
health care to 9.4 million beneficiaries of the US Military
Health system.
In October 2016 CxBladder® Monitor was adopted
as a replacement for cystoscopy for low risk patients
monitored for recurrence of bladder cancer by the
Waitemata District Health Board.
In December 2016 clinical study results of CxBladder®
Monitor were accepted for publication in the American
Journal of Urology. The study confirmed strong
performance (93% sensitivity and 97% negative
predictive value) of the test and the potential of it to
replace cystoscopy in low risk patients.
Pacific Edge, in their most recent Annual Report,
foreshadowed increase in CxBladder® sales as the utility
and application of the test continues to broaded.
Kinera has a broad patent portfolio using MK protein for
the treatment of ischemic conditions including heart attack
and stroke, and covering the manufacturing process for
MK using Pichia pastoris. Extensive pre-clinical evidence
has been unequivocal in demonstrating the benefit of
single or chronic MK dosing in improving mortality and
cardiac output following heart attack in animal models or
this disease.
Coronary heart disease remains the biggest cause of
mortality world-wide and, whilst mortality rates have been
improving, there is an urgent need for better management
of myocardial infarct in those surviving an acute event.
Minimising damage to heart muscle during ischemia and
from the subsequent injury following restoration of blood
flow is not addressed by current medications.