Biovica Secures Major Work Order for TKa Testing Services
Monday, Jan 13, 2025 2:41 am ET
4min read Biovica International, a pioneering force in blood-based cancer monitoring, has secured a significant work order for its TKa testing services. The company announced that it has signed an order with a total value of 2.3 MSEK (approximately 230,000 USD) for TKa testing services within its Pharma Services business. The work order is signed with a UK-based pharma/biotech company to be used in a phase I/II clinical study in patients with advanced solid tumors being treated with a next-generation CDK inhibitor.
The order follows a smaller proof-of-concept study that rendered good results, leading to this larger clinical-study-work-order. TKa will be used for repetitive testing during the trial, further validating its potential as a companion biomarker for patient treatment monitoring and optimization. The work order has a value of 2 MSEK plus 0.3 MSEK for additional services. The company signed a master service agreement (MSA) with Biovica in 2024.
Henrik Winther, SVP, Business Development at Biovica, commented on the development: "We are pleased to see the strong development in our Pharma Services business. TKa is now used in 15 ongoing trials, increasing the likelihood of TKa being validated as a companion biomarker for patient treatment monitoring and optimization. Another MSA-customer, who is also developing next generation CDK inhibitors in phase I/II, just signed its 8th work order with us. Large and repeat business makes me confident about the future."
The new work order has a positive impact on Biovica's financial projections for the current fiscal year, contributing to an increase in revenue and demonstrating the potential for repeat business and growth in the Pharma Services business. The order also influences Biovica's market position in the blood-based cancer monitoring sector by expanding its reach into new markets, validating TKa as a companion biomarker, increasing revenue and profitability, fostering repeat business and customer satisfaction, growing its Pharma Services business, and ultimately strengthening its position as a leader in blood-based cancer monitoring.
In conclusion, Biovica's new work order for TKa testing services is a significant milestone for the company, demonstrating its growing presence in the pharma services industry and its potential for long-term success in the blood-based cancer monitoring sector. The order has a positive impact on Biovica's financial projections and market position, further solidifying its position as a leader in the field.
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