September 21st, 2016 – GynTect, a molecular diagnostic test developed by the biotech company oncgnostics (www.oncgnostics.com), allows fast and reliable diagnostics of cervical cancer and the corresponding precancerous stages. The test has been revised now, offering an extension of its application, as compared to the first version. This extended version of GynTect is now available for use in laboratories. Moreover, oncgnostics has launched a crowd-investing campaign that offers small investors the opportunity to participate in the success of the company.
GynTect is a triage test that can be applied in cervical cancer diagnostics. With the fast and reliable results GynTect provides, it is possible to detect if a patient with abnormal result in the currently still most widely used Pap smear, or with a diagnosed HPV infection, has a precancerous lesion or even a carcinoma that requires treatment. This provides a significant improvement in the cervical cancer risk assessment: in the case of negative GynTect results surgeries are avoided, whereas in the case of a positive GynTect result an early and thus successful therapy is possible.
In autumn 2015 GynTect received a CE IVD mark that allows its application in the whole European market. Since then the experts at oncgnostics have continuously developed the test. Its new version allows a significant extension of its application. With this new version GynTect can be performed using smear material collected in the very frequently used liquid-based cytology medium PreservCyt (HOLOGIC). PreservCyt is currently used for an improved microscopic Pap test (ThinPrep Pap test) as well as for HPV tests from different providers (Abbott, HOLOGIC, Roche Diagnostics, Becton Dickinson….). Now even GynTect can be directly made from such a sample, so no additional smear has to be taken for the test.
In the coming months oncgnostics will perform further trials for validation of the new test format, which will support the successful introduction of the internationally patented test in other European as well as Outer-European countries. Fort he Indian market, a distribution partnership has already been closed.
Currently oncgnostics offers small investors the option to participate in the success of the company. With the campaign running at seedmatch.de the biotech startup not only aims at further investments into development, internationalization and distribution, but also into information about cervical cancer, its early detection and diagnostic methods used in this field.
A special feature of the campaign is the co-investment of the VC company bm|t (bm|t Beteiligungsmangement Thüringen GmbH). Through its startup fonds bm|t aims at investing the same sum that is invested by the crowd. This allows a maximum investment of 500,000 € by the bm|t. Furthermore, oncgnostics was able to convince the former world and olympic champion in Biathlon, Andrea Henkel to act as brand ambassador for GynTect.
Already within the first 12 hours the financing threshold of 100,000 € was reached, and in-between half of the finally intended sum was raised. The speed of investments demonstrates the great confidence in oncgnostics’ developments and concepts.
The campaign is running until October 3rd on the Seedmatch platform: www.seedmatch.com/oncgnostics
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About oncgnostics GmbH:
oncgnostics GmbH is a spin-off from the university women’s hospital Jena and was founded early in 2012. As a molecular diagnostic company oncgnostics is specialized on cancer diagnostics. Oncgnostics tests target epigenetic changes, so-called DNA methylations, that typically occur in cancer cells. The patented biomarkers which are evaluated using a specific algorithm are the core of the products and provide thus the basis for the company’s activities.
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