InvestChile Blog

FDI news | Policies & Tools | Business data analysis | Investment location trends

Cancer test developed by Chilean start-up to be distributed abroad

InvestChile - January,15,2021

GeneproDX has reached an agreement with Belgium’s Biocartis for the distribution of ThyroidPrint, a test that avoids unnecessary diagnostic surgeries and the permanent use of thyroid hormone supplements.

Science in Chile

GeneproDX, a biotechnology spin-off of the Catholic University, has signed a licensing, development and marketing agreement with the Belgian molecular diagnostics multinational, Biocartis, for the international distribution of ThyroidPrint, a thyroid cancer test that avoids exposing patients to the risks of surgical procedures and permanent thyroid hormone supplementation.

The test is a classifier based on the analysis of genetic markers using artificial intelligence and helps to determine whether a thyroid nodule of an indeterminate nature is benign or malignant, without the need for surgery. It will be included in Idylla, Biocartis’s rapid molecular diagnostics platform, which has a global presence and allows the test to be performed in an automated manner with microfluidic technology, eliminating manual manipulation and reducing result times from 48 to two hours.

“In our first experiences of clinical use in the real world, the test had a significant impact on the doctor’s decision, reducing diagnostic surgery in more than 70% of cases of patients with indeterminate cytology,” reported Dr. Hernán González, founder of GeneproDX.

Thyroid nodules are common and are often detected during a routine medical examination or through self-examination by the patient. However, the procedures are only able to determine an accurate diagnosis in 80% of cases. “The remaining 20% ​​are reported as indeterminate, without a clear diagnosis,” explains González.

Entrepreneurship in Chile

The two organizations will share both development costs and profits, with the Chilean start-up leading the development of the ThyroidPrint test in Idylla, while Biocartis will be responsible for international distribution of the test through its platform.

Thanks to the alliance, the start-up has reached a valuation of US$35 million, double its value last year. With the development of ThyroidPrint on the Biocartis platform, it will reach the global market in the next 18 months.

To find out more about innovation and development in Chile, see this article.

Source: Diario Financiero

Foreign Investor's Guide Languages

Topics: Innovation- Start-Up- Entrepreneurship- Science in Chile

InvestChile

InvestChile

We are the government agency responsible for promoting Chile in the global market as a destination for foreign direct investment, serving as a bridge between the interests of overseas investors and the business opportunities the country offers and providing world-class services that are in line with the country’s economic development policies.

Previous Post

Chileans bring artificial intelligence closer to audiovisual production

Next Post

Tech Investment: EdgeConneX announces Edge Data Center in Chile

NEWSLETTER

Subscribe to our newsletter

Receive in your e-mail publications and news about how to guide your investment project in Chile

Subscribe to Our Newsletter

You can also subscribe here to our monthly Investment Review Newsletter

100% Privacy. No Spam.

Related Posts

Visas and foreign citizens

We invite you to obtain a complete guide of residence laws and regulations for investors and foreign workers in Chile.
Learn More