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High demand seen for effective disease management platform for second most common cancer in Singaporean men
NEW YORK and SINGAPORE, March 28, 2022 /PRNewswire/ -- miR Scientific, a New York-based healthcare company dedicated to transforming global cancer management, and Leonie Hill Capital, a Singapore-based organization focused on large-scale, sophisticated healthcare access and distribution, announced today the signing of a collaboration agreement to partner in the commercial launch of the award-winning miR Sentinel™ Prostate Cancer Test in Singapore and Southeast Asia.
The miR Sentinel™ Prostate Cancer Test is a standalone, non-invasive liquid biopsy urine test that can, from a single urine specimen, accurately detect molecular evidence of prostate cancer and, if cancer is detected, classify the severity, or the risk grade, of the malignancy. The proprietary high-throughput technology is based on the interrogation of small noncoding RNAs (sncRNAs) extracted from urinary exosomes and was shown in clinical studies to detect and classify clinically significant prostate cancer with over 90% accuracy. Based on these results, the U.S. Food & Drug Administration granted the test a Breakthrough Device Designation.
"The commercial appeal and likely demand in Singapore for an easy-to-administer, non-invasive and highly accurate test that can detect and risk classify prostate cancer is substantial" said Arun Kant, CEO of Leonie Hill Capital. "The high throughput nature of the technology and miR Scientific's business model that is centered on specimens shipped to a certified central lab for testing easily lends itself for rapid commercial deployment in a market such as Singapore" he said.
In advance of a commercial deployment of the technology in Singapore, the parties agreed to work together to facilitate a local clinical validation study in cooperation with leading local academic medical institutions. The study will be designed to further establish the performance characteristics of the miR Sentinel™ Prostate Cancer Test in the local market.
"We are excited to be working with Arun and the LHC team in Singapore" said Sam Salman, co- founder, Chairman and CEO of miR Scientific. "The disease burden of prostate cancer in Singapore is substantial and growing, affecting many. It is the second most common cancer in Singaporean men, and according to the Singapore Cancer Society, one in four patients is diagnosed with advanced disease with costly and poor outcomes. We hope that the introduction of the miR Sentinel™ Prostate Cancer Test will significantly improve outcomes. Singapore is an established regional hub of medical excellence, known for the willingness of its health system to embrace innovation and improve population health. These factors make Singapore a high priority market for miR Scientific's global expansion."
miR Scientific and LHC plan to commence operation of the partnership and introduce the technology in Singapore during the second quarter of 2022.
About miR Scientific
miR Scientific, LLC is a healthcare company committed to transforming global cancer management by providing early and highly accurate detection, characterization and monitoring of disease. The Company has developed the miR Disease Management Platform®, a proprietary, non-invasive platform for the effective management of targeted diseases, initially focused on urological cancers. The platform powers the miR Sentinel™ Prostate Cancer Test, a liquid biopsy urine test that accurately detects, classifies and can monitor prostate cancer based on the interrogation of sncRNAs extracted from non-DRE urinary exosomes. miR Scientific is developing interoperable products and services necessary to revolutionize the standards of care supporting urologic oncology, including prostate, bladder and other urothelial cancers. Such new standards are urgently needed given the prevalence of these cancers and their debilitating burden globally. miR Scientific is a majority-owned operating subsidiary of Impact NRS LLC, headquartered in New York City with operating subsidiaries in Israel, Japan, Canada, and Puerto Rico.
About Leonie Hill Capital
Leonie Hill Capital is a Registered Fund Management Company overseen by a management team with more than 60 years of experience across global markets with headquarters in Singapore and representative offices in Switzerland, Japan and the United States, with more than USD$2B under management.
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