After reviewing more than 100 studies, the panel issued recommendations focused on women with a personal or family history of BRCA1/2-related cancers or high-risk ancestry.
The firm will begin a verification study later this month using its cell-sorting platform and molecular analysis tool on patients with a pelvic mass scheduled for surgery.
The company — develops tests for the early detection of cancer and other diseases in whole blood — is targeting C$3.7 million in a private placement financing round.
The firm expect to raise gross proceeds of $15 million, or $17.25 million if the offering's underwriter exercises its option to purchase additional shares.
The researchers said that their approach using 11 plasma protein biomarkers could enable early detection of ovarian cancers and reduce unneeded, associated surgeries.
The drug is for first-line maintenance therapy after BRCA-mutated advanced ovarian cancer patients respond to platinum chemo and the test will identify those with BRCA mutations.
The firm will use the proceeds to further a validation study tracking the ability of its cell culture assay to predict patient response to cancer therapies.
The firm is seeking approval of myChoice HRD as a test that can identify ovarian, fallopian, or peritoneal cancer patients deficient in homologous recombination DNA repair.
