Biovica provides market share target at today’s Capital Market Day
Uppsala, Sweden, May 11, 2020. Biovica, active in cancer diagnostics, hosts today its virtual capital market day at 14.00-16.00. The purpose is to provide an update on Biovica's market launch strategy and goals. Biovica is also providing a market share target three years after launch of DiviTum®.
Biovica is approaching market launch of DiviTum® for monitoring of metastatic breast cancer treatments. DiviTum® is already being sold for research purposes, primarily to major pharmaceutical companies for use in clinical studies. After an FDA approval, the large market for patient monitoring will become available.
Three years after market launch, Biovica expects to achieve a market share of 15 percent of the total market potential. The first market will be the United States, followed by Europe's five largest markets and the Nordic region. Thereafter, additional geographic expansion, is planned with initial focus on the Japanese market. Long term is Biovica’s goal to take 50 percent of the market share on the markets we launch DiviTum®.
During the Capital Market Day, CEO Anders Rylander, together with members of Biovica's Group Management, will present the company's strategy and plans. In addition, oncologist MD Samuel Rotstein from Karolinska Hospital will present his views on the value DiviTum® could bring patients and the healthcare system. Robert Dann, SVP Marketing and US Business will present the plan for the market launch of DiviTum® in the US, and Henrik Winther SVP Business Development will present the plan for the market launch of DiviTum® in Europe BIG 5 and Nordics, and the plan for companion diagnostics.
“We are on schedule regarding our 510 (k) application to the FDA. As previously announced, we intend to submit it in the third quarter of 2020.” said Anders Rylander, CEO of Biovica.
Biovica – Treatment decisions with greater confidence
Biovica develops and commercializes blood-based biomarker assays to evaluate efficacy of cancer treatments. Biovica’s assay DiviTum® measure cell proliferation by detecting a biomarker in the blood stream. The assay has successfully demonstrated its capabilities to early evaluate therapy effectiveness in several clinical trials. The first application for DiviTum is monitoring of treatment for patients with metastatic breast cancer. Biovica's vision is that all cancer patients will get an optimal treatment from day one. Biovica collaborates with world-leading cancer institutes and pharmaceutical companies. DiviTum is CE-marked and registered with the Swedish Medical Products Agency. Biovica's shares are traded on the Nasdaq First North Growth Market (BIOVIC B). FNCA Sweden AB is the company's Certified Adviser, email@example.com, +46 8 528 00 399. For more information please visit: www.biovica.com.
This information is information that Biovica International is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2020-05-11 08:00 CEST.
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