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Oxford BioDynamics reaches "important milestone" with new laboratory

3rd Apr 2024 14:31

(Alliance News) - Oxford BioDynamics PLC said on Wednesday that it has opened a clinical testing laboratory in the UK to perform EpiSwitch prostate screening tests.

In September the Oxford-based biotechnology company launched the test which can predict the presence or absence of prostate cancer with 94% accuracy.

The commissioning of the new lab will expand capacity and enable a shorter turnaround time for tests ordered in the UK.

Chief Operating Officer Tomas Guiel said: "The commissioning of a new clinical lab... is an important milestone for the company..The immediate benefit for our clients in the UK will be the significant reduction in the elapsed time from receipt of an order to result, which will now be 5 days or less."

Looking ahead, the company said it is continually seeking to expand its user base and as demand for this form of testing grows, and believes an additional laboratory will be necessary.

Oxford BioDynamics shares were up 1.0% to 9.40 pence each in London on Wednesday afternoon.

By Elijah Dale, Alliance News reporter

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