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GeneproDx

Chile
Market: Medicine
Stage of the project: Operating business

Date of last change: 17.09.2021
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Idea

ThyroidPrint is a novel genetic test that will avoid millions of unnecessary thyroid surgeries, providing certainty and improving the lives of millions of patients with thyroid cancer globally

Current Status

We have been commercially available for 2 years as a centralized service based in Santiago-Chile and currently serve Chile, Argentina, Brasil, Ecuador, Bolivia and Spain. In 2022, we intend to enter the US and expand the European market.

Problem or Opportunity

Currently, 20% of patients undergoing a diagnostic workup for a newly diagnosed mass in the thyroid have an indeterminate report of their fine needle biopsy. Most of these patients end in surgery given that they have a 25% rose of cancer, resulting a in 75% rate of unnecessary surgery! This exposes thousands of patients to unnecessary surgical risks and lifetime hormonal supplement dependency. In addition it costs billions to the healthcare systems globally.

Solution (product or service)

We are addressing a USD $ 2 billion market opportunity and have developed Thyroidprint, a novel genetic test based on PCR and artificial intelligence, that using a small needle biopsy is able to predict if an indeterminate thyroid nodule is benign with over 95% certainty. This allows physicians to recommend surveillance as an alternative to surgery. In other words, if the ThyroidPrint test result is benign, the risk of cancer drops from 25% to less than 5%. We have clinically validated ThyroidPrint in two large clinical trials in Chile and the US, which allows us to offer our test globally.

Business model

We have recently partnered with a globally present molecular diagnostics company (Biocartis) to build ThyroidPrint into a diagnostic kit. This will disrupt the current competing centralized service models only available in the US. ThyroidPrint will be the first globally distributed test to the market, democratizing access of genetic testing to patients through local laboratories around the world.
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