Serascience launches world's first point-of-care diagnostic device for multiple myeloma

Serascience Limited, a specialist cancer diagnostics company, announces the launch of SeraliteTM, its proprietary point-of-care diagnostic device for multiple myeloma. The device will initially be available for research use only, followed by CE marking and application for FDA approval. SeraliteTM will be used to aid the diagnosis of myeloma and to monitor relapse and MGUS (Monoclonal gammopathies of undetermined significance) progression. The test measures two markers of myeloma, kappa and lambda free light chains, and calculates the ratio of these two parameters in urine, blood or serum.

Multiple myeloma is the second most common type of blood cancer1 with 1,000 new cases diagnosed globally every day.2 The disease has a high rate of deterioration and a poor prognosis. Delays in diagnosis can result in anaemia, infection and severe damage to the kidneys and skeleton. Studies show that when first diagnosed, up to 40% of myeloma patients may already be experiencing renal failure.3 Rapid diagnosis and early treatment can prevent the development of these severe complications of myeloma and as a result can greatly improve quality and duration of life.

The current clinical practice involves sending test samples to laboratories for analysis and waiting up to ten days for the results. SeraliteTM is an easy to use, point-of-care device that delivers clear, accurate results within ten minutes. It will enable clinicians to quickly respond to results, allowing them to immediately start treatment and potentially assess if a current treatment regime is working. It will also provide economic benefits by reducing the number of outpatient visits and enabling faster tracking of disease progression.

Professor Mark Drayson, Director Clinical Immunology Service at University of Birmingham, commented: "Early diagnosis is critical for patients with myeloma. In the UK approximately 4,000 new cases of myeloma are diagnosed every year. The faster the treatment process can begin, the greater the chance of survival. Currently 50% of patients with myeloma require three or more visits to their GP before they are referred to hospital.4 The launch of a point-of-care test is an important step in improving patient outcomes and we welcome this development."

Dr Chris Hand, Chief Executive Officer of Serascience, commented: "SeraliteTM will provide clinicians with an immediate result that will enable them to quickly start or change treatment options. It is the first device of its kind and we are excited by its potential to help improve outcomes for patients currently suffering with myeloma."

About Serascience

Serascience is a specialist cancer diagnostic company developing fast, accurate point of care tests to aid the diagnosis of myeloma and related conditions. Serascience also supplies a broad range of class and subclass specific anti immunoglobulin antibodies. It is a portfolio company of Bioscience Ventures Ltd (“Bioscience Ventures”), a joint venture between Abingdon Health Ltd and the University of Birmingham, to enhance and maximise the value of intellectual property developed at the University in the field of in vitro diagnostics

About Abingdon Health –

Abingdon Health is a specialist medical diagnostics company based in Oxford with facilities in London, Birmingham and York. The Company works with the world’s best scientists to acquire, develop and distribute state-of-the art diagnostic tools and services. Their mission is to create a global, diversified healthcare business through both selective acquisition and the development of patent protected, clinically relevant diagnostic products.

Abingdon was founded in 2008 by CEO Dr Chris Hand, Chris Yates and Dr Brett Pollard, ex Head of Life Science Research at Numis and equity analyst at Seymour-Pierce and Deutsche Bank, to commercialise a portfolio of novel clinical diagnostics technologies. Chris Hand, is the ex co-founder and CEO of Cozart Bioscience Ltd, which sold for £65 million to Concateno plc in 2007 and non-executive director of Concateno plc until its sale to Inverness Medical Innovations (IMA) for £147 million in 2009.