Allegro Diagnostics Planning Large Lung Cancer Diagnosis Trial for 2010
Ryan McBride2/4/10
(Page 2 of 2)
St. Louis-based Orion Genomics is developing a test that screens patients’ sputum samples for DNA biomarkers for lung cancer. Also, medical researchers at the University of California, Los Angeles are studying the use of a blood-based test to screen patients for lung cancer. None of these nascent technologies has garnered U.S. marketing approval yet, though.
Beyond providing the potential benefits of early detection of lung cancer, Allegro’s test could also help reduce overall healthcare costs, Rippy told me. He said that a Harvard economic analysis in 2007 showed that the annual cost of treating an elderly patient with early-stage lung cancer is about $120,000 compared with $1.2 million for someone with an advanced form of the disease who needs more care.
In terms of Allegro’s own finances, Rippy says that the SBIR grant should provide enough cash to at least complete enrollment for the clinical trial of the lung cancer test, which could pave the way for FDA clearance. He says that his four-person company also has some capital left over from its $4 million Series A round of funding. The first-round backers included Kodiak Venture Partners, Catalyst Health Ventures, and Boston University. Allegro is also evaluating options to raise more money or form partnerships to fund its research, Rippy said.
