OncoMark are awarded €2.7 million by the European Commission to develop a diagnostic assay for breast cancer
OncoMark are pleased to announce they have been awarded €2.7 million by the European Commission, for the commercial development of a new Diagnostic test for breast cancer patients. This award will fund the development and commercialisation of OncoMasTR, a novel prognostic assay for early stage breast cancer that will reduce the number of breast cancer patients receiving unnecessary chemotherapy.
The funding was awarded to OncoMark as a result of a successful grant application (ranked 1st in their category in Europe), recognising the enormous potential of the OncoMasTR test to improve the care of breast cancer patients.
The OncoMasTR test will help clinicians to decide whether or not a patient with early stage breast cancer will benefit from a rigorous course of chemotherapy. Mr. Des O'Leary, Chief Executive Officer at OncoMark explains "Currently, the majority of early stage breast cancer patients are treated with chemotherapy, despite many not benefiting from such treatment, thereby exposing individuals to severe side effects. Approximately 30% of patients develop a recurrence of the disease within 10 years after initial surgery and, therefore, require aggressive chemotherapy, but it has been difficult to identify these individuals."
OncoMark currently employ 10 staff at their laboratories in Dublin and intend to double this over the next two years. Des O'Leary added "We are delighted to announce this award, which will enable us to accelerate the OncoMasTR test from the laboratory to the clinic, as well as creating employment opportunities and promoting the worldwide recognition of Ireland's capabilities in the clinical diagnostics field." The OncoMasTR test, which is based on the measurement of biomarkers present in individual patients, will enable a personalised approach to the treatment of patients, ultimately improving their quality of life.