{"id":10508,"date":"2024-06-04T03:16:37","date_gmt":"2024-06-04T03:16:37","guid":{"rendered":"https:\/\/economicherald.net\/?p=10508"},"modified":"2024-06-04T03:16:37","modified_gmt":"2024-06-04T03:16:37","slug":"asx-health-stocks-genetic-signatures-gets-fda-approval-optiscan-unveils-new-device","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10508","title":{"rendered":"ASX Health Stocks: Genetic Signatures gets FDA approval; Optiscan unveils new device"},"content":{"rendered":"

Genetic Signatures receives FDA approval<\/p>\n

Genetic Signatures (ASX: GSS)<\/a>, a company known for its molecular diagnostic solutions for infectious diseases, has just received clearance from the US FDA for its EasyScreen Gastrointestinal Parasite Detection Kit and GS1 automated workflow.<\/p>\n

This is a significant announcement in the world of clinical diagnostics, especially for expanded testing for gastrointestinal (GI) parasites.<\/p>\n

The approval means that healthcare professionals now have a powerful new tool to accurately and quickly diagnose these kinds of infections.<\/p>\n

Every year, more than 3.5 billion people worldwide get infected with GI parasites, causing over 200,000 deaths and a lot of health and economic problems.<\/p>\n

In the US alone, there are about 65 million cases of GI infections each year, but only 15% of them are actually reported to doctors.<\/p>\n

These parasites can come from contaminated water, food, or surfaces, and even from international travel. Sometimes people don\u2019t even have symptoms, but they can still spread the infection.<\/p>\n

Currently, diagnosing these infections in the US relies a lot on using microscopes, which takes a long time, is complicated, and needs highly trained staff.<\/p>\n

Genetic Signatures\u2019 EasyScreen Gastrointestinal Parasite Detection Kit is a game-changer as it offers a comprehensive solution for detecting the parasites.<\/p>\n

It uses GSS\u2019 proprietary technology called 3base<\/strong> to identify eight of the most common and important GI parasites all at once, from just one sample.<\/p>\n

Neil Gunn, interim CEO of Genetic Signatures, said:<\/p>\n

\u201cOur unique 3base technology offers significant differentiation and advantages for molecular testing of the most challenging samples and gastrointestinal parasites that impact over 60 million patients a year in the US.\u201d<\/p>\n

The process is also automated, so it\u2019s much faster and easier than using a microscope.<\/p>\n

This means doctors can get results quickly and make sure patients get the right treatment as soon as possible, which also helps save money on healthcare.<\/p>\n

\u201cSecuring FDA clearance marks a major milestone for Genetic Signatures,\u201d \u00a0Gunn said.<\/p>\n

\u201cWe are excited to offer patients and customers a new solution to a major health care issue in the US.\u201d<\/p>\n

\u00a0<\/p>\n

New CEO and $30m cap raise<\/h2>\n

On the back of this announcement, GSS has also just appointed a new permanent CEO, Allison Rossiter<\/strong>.<\/p>\n

Rossiter has a lot of experience in the diagnostics industry, especially with Roche Diagnostics,<\/em> where she\u2019s been working since 2003 in different parts of the world. Since 2019, Allison has been the managing director at Roche Diagnostics, Australia.<\/p>\n

In addition, GSS has also announced an approximately $30 million cap raise.<\/p>\n

Around $6m of that is earmarked for placements to institutional investors, and $24m will be for eligible GSS shareholders \u2013 at an issue price of $0.75 a share.<\/p>\n

All eligible directors of GSS intend to participate in this offering, GSS said.<\/p>\n

\u00a0<\/p>\n

Lumos receives US$5m under IP deal<\/h2>\n

Lumos Diagnostics (ASX:LDX)<\/a><\/strong> has announced the receipt of a second payment of US$5 million from Hologic, Inc. (NASDAQ: HOLX)<\/em> under the Intellectual Property (IP) Agreement disclosed in January.<\/p>\n

This recent payment brings the total received under the IP Agreement to US$10 million.<\/p>\n

Under the terms of that IP Agreement, Hologic has been granted an exclusive licence in the field of fetal fibronectin (fFN) to Lumos\u2019 proprietary reader and point-of-care technologies.<\/p>\n

These technologies are set to be integrated into the next-generation Hologic fFN diagnostic product, currently in development.<\/p>\n

Lumos has successfully completed Phase 1 of the associated Development Agreement, valued at US$0.4 million, which primarily focused on Product Definition and Planning.<\/p>\n

This phase is part of a three-phase program with a total value of US$4.7 million. Payment for Phase 1 is anticipated by June 30, 2024.<\/p>\n

Lumos\u2019 shares jumped +8% this morning.<\/p>\n

\u00a0<\/p>\n

Optiscan unveils new device<\/h2>\n

Optiscan Imaging (ASX: OIL)<\/a><\/strong>, meanwhile, has unveiled its innovative new medical imaging device, InVue.<\/strong><\/p>\n

InVue was designed to revolutionise precision surgery by granting surgeons immediate access to real-time digital pathology.<\/p>\n

Developed in collaboration with the industrial design firm Design + Industry, based in Sydney and Melbourne, InVue marks a significant advancement in the field of pathology.<\/p>\n

It has bridged the gap between traditional laboratory-based approaches and the operating theatre, said Optiscan.<\/p>\n

Unlike conventional methods that involve time-consuming procedures and delayed results, InVue enables surgeons with on-the-spot pathology insights, enabling informed decision-making and precise surgical interventions.<\/p>\n

By facilitating quicker and more accurate diagnoses, the device aims to minimise the need for multiple diagnostic procedures and repeat surgeries \u2013 ultimately enhancing patient outcomes and reducing healthcare costs.<\/p>\n

Optican\u2019s share price surged by almost +30% this morning.<\/p>\n\n

\ufeff<\/span><\/span>\u00a0
\n<\/span><\/p>\n

The post ASX Health Stocks: Genetic Signatures gets FDA approval; Optiscan unveils new device<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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