From WisPolitics.com/WisBusiness.com …
— Exact Sciences today launched a new blood test for cancer, which aims to catch various cancers earlier and reduce death rates.
Dr. Tom Beer, chief medical officer for multi-cancer early detection, says the new Cancerguard test “offers a critical early warning” that cancer may be present and supports the pathway to diagnosis.
“As adoption grows, we’ll look back and ask how we ever settled for screening for only a few cancers while letting the majority go undetected,” Beer said in today’s announcement. “Like the smartphone redefined communication, Cancerguard has the power to redefine cancer detection and the future of early intervention.”
The multi-cancer early detection, or MCED blood test, assesses circulating tumor DNA and proteins in the blood that are linked to cancer. This approach can improve detection of some of the most life-threatening cancers even at early stages, the release shows, including pancreatic, ovarian, liver, esophageal, lung and stomach cancers
Broad use of the Cancerguad test alongside standard-of-care screening over a 10-year period could lead to 42% fewer state IV cancer diagnosis, and lower overall cancer-related death by 18%, according to figures from the company.
Studies found the test had 68% sensitivity across “six of the deadliest cancers” and 64% overall sensitivity across a broad range of cancers. Plus, it identified more than one-third of cancers in stages I and II, when it’s easier to treat.
The announcement notes Cancerguard comes after nearly a decade of development that pulled data from large scientific studies with more than 20,000 participants. Exact Sciences says it’s now actively enrolling up to 25,000 participants in another study to “further validate clinical utility and support broad adoption” of the test.
Kevin Conroy, chairman and CEO of Exact Sciences, says Cancerguard “represents the next bold step” in the company’s effort to improve early cancer detection. The company’s existing Cologuard test has been used more than 20 million times for colorectal cancer screening.
“With deep, trusted relationships across the health care system, Exact Sciences has the reach, credibility, and commitment to bring earlier answers to more people,” Conroy said. “This is the moment where we begin to change the course of cancer forever and give people power over their futures.”
See the release below.
— Venture Investors Health Fund today announced the close of its seventh fund with $80 million raised, building on decades of investing in health innovations.
The Madison-based investment firm, called VI for short, says it’s invested in more than 80 companies since being founded in 1984, 11 of which have exited with valuations between $250 million and $2.25 billion.
The newly raised fund aims to drive “breakthrough” health care innovations to improve the standard of care, according to today’s announcement. Managing Partner Jim Adox emphasizes the firm’s commitment to backing “visionary” entrepreneurs who can have a major impact in the health space.
Portfolio companies include: HistoSonics, a company that uses sound waves to destroy tumors; EarliTech, which has an eye-tracking method for diagnosing autism; Cellectar Biosciences, a company that’s developing new cancer treatment approaches; Visana, which has a virtual clinic offering specialized care for women; and more.
“By focusing on technology that truly transforms how patients receive care, we aim to accelerate the translation of decades of research into real-world impact for patients and their physicians,” Adox said in a statement.
Meanwhile, the Wisconsin Technology Council is applauding VI’s latest fund closing.
Joe Kremer, director of the group’s Investor Networks, notes Wisconsin’s startup ecosystem “still faces a critical need” for more mid-sized venture funds that can provide investments between $5 million and $15 million that many companies need to scale up.
“Venture Investors’ commitment to backing transformative medical devices, diagnostics, pharma and digital health companies, many spun out of university research, is exactly the kind of targeted, sector-smart capital that keeps Wisconsin startups growing here rather than relocating elsewhere,” Kremer said in a statement.
See the release below.
— The Assembly State Affairs Committee has approved 5-3 along party lines a bill to bar the use of state money to pay for health care services for those in the country illegally, paving the way for a floor vote tomorrow on the bill.
While state law already prohibits undocumented immigrants from enrolling in BadgerCare, AB 308 co-author Rep. Alex Dallman, R-Markesan, has argued the measure will ensure the state doesn’t expand Medicaid coverage to undocumented immigrants, leading to increased costs.
Rep. Christine Sinicki, D-Milwaukee, blasted the bill as “nothing but red meat” for the GOP base.
“It disgusts me, it totally and completely disgusts me,” Sinicki said.
Rep. John Spiros, R-Marshfield, said he and his wife had to cover the cost when his wife hurt her ankle in Aruba and when she had to see a doctor in Greece.
“Nobody over there was paying for me, so why should we have to do it here?” Spiros said.
— The Assembly Mental Health and Substance Abuse Prevention Committee approved 6-3 along party lines a bill to provide a $10 million grant to Rogers Behavioral Health for a mental health facility in the Chippewa Valley.
Lawmakers allocated $10 million in the state budget for a new mental health facility. The proposal comes after Hospital Sisters Health System shut down hospitals in Chippewa Falls and Eau Claire last year, leading to a loss of 33 psychiatric beds and sending psychiatric patients farther from home to seek emergency care.
Under AB 388, the Department of Health Services would only award the grant if Rogers Behavioral Health submits a letter of intent with plans for building the facility, along with proof of purchase or lease of land. The Assembly is set to take up the bill tomorrow, according to the calendar.
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Press Releases
– Exact Sciences: Launches Cancerguard™, first-of-its-kind multi-cancer early detection blood test
