| Fermiscan Holdings Limited is listed on the Australian Securities Exchange (ASX:FER) and is building an international business specialising in early detection technologies for improved health outcomes. There are two major businesses: the Fermiscan Test which is the commercialisation of a world first non-invasive and simple breast cancer screening for women of all ages and the Sydney Breast Clinic, a leading provider of diagnostic assessments and breast screening for over 30 years.
The Fermiscan Test is based on the breakthrough discovery by an Australian scientist that the presence of breast cancer is associated with a change in the structure of hair. This structural change is detected by the technique of X-ray diffraction using an intense X-ray beam generated from a synchrotron.
The Fermiscan Test has the potential to provide a fast and accurate adjunct to existing technologies for the detection of breast cancer in women of all ages. The recently completed validation trial (2,009 patients) demonstrated a high level of overall accuracy. In general the trial showed that the test performed better in younger women. When coupled with safety and convenience factors the Fermiscan Test compares favourably to existing screening methods. The test potentially provides early detection of breast cancer with benefits for women's health including increased survival and treatment options. Preliminary data also indicates that the test can detect the presence of metastatic breast disease.
Fermiscan plans to develop the test by establishing links with key medical specialists and cancer centres both in Australia and internationally. Through these links, Fermiscan will continue to conduct clinical studies focused on improving the accuracy of the test in conjunction with current screening technologies. This strategy will enable Fermiscan to understand the expectations of local clinicians, patients and regulatory bodies, as well as developing relationships with local clinics for distribution of the test when appropriate.
In June 2008 Fermiscan acquired the Sydney Breast Clinic who are the leaders in the provision of diagnostic services, risk assessment, breast screening and bone density testing. Sydney Breast Clinic was a major participant in Fermiscan's successful validation trial.
In recognition of its global commercial potential Fermiscan was named 'Australian Innovator of the Year 2008' at the Austrade sponsored annual 'Innovation Day Shoot Out' competition in New York in January 2008. The Shoot Out is a national showcase promoting Australia's leading research and technology companies to the US market.
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