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VolitionRX Limited
8/15/2024
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the VolitionRx Limited second quarter 2024 earnings conference call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference call will be opened for questions. If you have a question, please press the star key followed by the number one on your touchtone phone. If you would like to redraw your question, please press the star key followed by the number two. If you're using speaker equipment, please lift the handset before making your selections. This conference is being recorded today, August 15th, 2024. I would now like to turn the conference call over to Louise Batchelor, Group Chief Marketing and Communications Officer. Please go ahead.
Thank you, and welcome everyone to today's earnings conference call for VolitionRx Ltd. Before we begin, I'd like to remind everyone that some of the information discussed on this conference call will include forward-looking statements covered under the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on our beliefs as well as assumptions we have used upon information currently available to us. Because these statements reflect our current views concerning future events, these statements involve risks, uncertainties and assumptions. Actual future results may vary significantly based on a number of factors that may cause the actual results or events to be materially different from future results, performance or achievements expressed or implied by these statements. We've identified various risk factors associated with our operations in our most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. We do not undertake an obligation to update any forward-looking statements made during the course of this call. Cameron Reynolds, President and Group Chief Executive Officer, will open the call, providing key highlights of the second quarter and indeed the first half of 2024. Then Dr. Andrew Retter, Chief Medical Officer, will provide a commentary about our clinical trials programme. Terry Cuse, our Group Chief Financial Officer, will then cover Volition's financial and operating results, along with a discussion of recent finance activities, before passing back to Cameron for a look ahead to upcoming milestones. We will then open the conference call to a question and answer session. I'll now hand over the call to Cameron.
Thanks, Lou, and thank you everyone for joining Volition's second quarter 2024 earnings call today. We appreciate your time given the busy earnings call season. Thank you for your continued support in helping us advance our mission to save the lives and improve outcomes of millions of people and animals worldwide through our novel epigenetics platform. This year, we have successfully supported our veterinary licensing and distribution partners to launch new to you vet cancer test, and I'm delighted that we have sold more tests in the first half of this year than we did in the whole of 2023. Through the end of June, 2024, we sold more than 60,000 NUQ cancer tests versus about 58,000 tests for the full year of 2023. Antex Diagnostics, part of the Mars Pet Care Group, announced the launch of NUQ vet tests, not only in the US and Europe, but also as far afield as my home country, Australia, as well as India and Singapore. the list of countries is ever-expanding. The Antec team has been very actively marketing the in-house test at a very compelling list price of $35 to the vet. Fujifilm Vet Systems are also pricing the test to vets at below $40, and on July 1st announced the country-wide launch of the new QVET cancer test in Japan. After very good initial feedback from vets, they are now marketing the test aggressively so another exciting market to watch. We have invested significantly over the recent years to build out our product pillars and to help ensure we have robust scientific and clinical evidence to support our potential breakthrough technologies. During the second quarter of 2024, we continued to make significant progress in reading our products and technologies, including our intellectual property for licensing. Our patent portfolio as of June 30 comprises 53 patent families, 86 granted patents, with a further 128 patents pending worldwide. We believe this to provide a rich source of competitive advantage, and I'd like to take the opportunity to acknowledge the hard work of all our scientific team, notably Dr. Jake McAuliffe and our head of intellectual property, Catherine Maylou, Our focus in the second half of 2024 will include negotiating our first licensing deal in the human space. And to that end, Pharma Ventures has recently been engaged to act as an advisor to Volition to help secure licensing deals. Pharma Ventures is a respected international advisory company with a proven track record in licensing, partnering and strategic alliances. PharmaVenture's specialist experience in deal-making and extensive network means that it is ideally placed to support us as we seek to commercialize our potentially groundbreaking oncology and capture PCR portfolio. I will return later in the call to discuss future milestones and to answer your questions, but will now pass over to Dr. Retta for a summary of upcoming data for inclusion in the data rooms, not only for oncology, but also for sepsis, where we already have received expressions of interest from key industry players. Andy, over to you.
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