Dunedin medical device company Pacific Edge Biotechnology (Pebl) expects to have its first cancer diagnostic products on the market next year.
At the company's annual meeting in Dunedin yesterday, chairman Chris Swan said clinical tests to validate bladder and colorectal cancer detection assays were nearing completion, with commercial products expected to reach the market in August or September next year.
"This will change our company enormously," he told about 20 shareholders.
Chief executive David Darling also announced the company was investigating establishing a laboratory to test bladder cancer samples from the Pebl assay for the 300 urologists in Australia and New Zealand.
Mr Darling said Pebl had the technology, expertise and the laboratory to run a centralised service, which would generate income and provide some control over its technology.
Research director Parry Guilford said clinical trials on a melanoma prognostic assay should start in the middle of next year.
The research has been done with the Ludwig Institute in Melbourne and the prototype test was proving 90% accurate.
Commercially, the gastric cancer diagnostic test had enormous potential, with 65 million Japanese aged over 40 being screened for the disease.
Pebl was developing a blood-based diagnosis with a Japanese partner, and Dr Guilford said trials should start late next year.
Mr Darling said international investors and researchers were taking notice of Pebl and they were in commercial negotiations with two United States-based blue chip companies, with others also wanting to talk to them.
"It is like the coming together of the moons.
"At first, there were no markets in the world and no company in the world doing this work. Now, people are taking notice of us."
Earlier, the company reported a $1.9 million loss, ahead of a budgeted loss of $2.3 million.
Mr Swan said extra capital would be needed to complete clinical trials and development work and the board was considering whether to go back to shareholders, approach investment banks or look at commercial agreements.
