EDMONTON, AB, April 23, 2024 /CNW/ – Nanostics Inc., a precision health company developing diagnostic tests with its ClarityDX® platform technology, announced today that it received an investment from the University of Alberta Innovation Fund (UAIF) to help propel adoption of Nanostics’ ClarityDX Prostate® test in North America.
One in eight men will be diagnosed with prostate cancer in their lifetime and one in 30 men will die from the disease. When detected early, prostate cancer is one of the most successfully treated types of cancer. However, the current screening method, the prostate-specific antigen (PSA) test, has low specificity for aggressive prostate cancer, leading to over-detection and over-treatment. Using PSA alone as a screening tool means patients may opt for unnecessary, invasive prostate biopsies and treatments with potentially harmful side effects.
The ClarityDX Prostate test, launched in Canada in September 2023, is available to patients from Nanostics’ accredited clinical laboratory in Edmonton, Alberta. This innovative blood test, which uses biological data, clinical information, and machine learning models to generate a risk score for aggressive prostate cancer, marks a significant advancement in prostate cancer screening. It provides critical support to men and their healthcare providers in making more informed decisions about whether additional screening is required following a high prostate-specific antigen (PSA) test result.
“This support from the University of Alberta Innovation Fund will help us continue to promote the use of the ClarityDX Prostate test by men suspected of prostate cancer”, said Dr. John Lewis, CEO of Nanostics and Bird Dogs Chair of Translational Oncology at the University of Alberta. “Detecting aggressive prostate cancer early is critical to improve patient outcomes and quality of life.”
“The Nanostics team is well positioned to tackle critical diagnostic needs in prostate cancer while expanding their product pipeline to help address other unmet clinical needs”, said Sheetal Mehta Walsh UAIF CEO. “We are delighted to partner with an Alberta-based company that has global ambitions to address health concerns while leveraging their innovative AI technologies”
Funds raised through the UAIF will go towards expanding access to ClarityDX Prostate across North America and supporting the expansion of its product pipeline, including the development of ClarityDX Bladder, a minimally invasive bladder cancer diagnostic test.
ClarityDX Prostate is currently available in Canada as a laboratory-developed test. For more information or to order the test please visit nanosticsdx.com.
