CHICAGO, July 8, 2015 /PRNewswire/ –Â 20/20 GeneSystems, Inc. (“20/20”) has partnered with Zacks Investment Banking (ZacksIB) and AmeriTech Advisors to raise $4 million in growth capital to support a nationwide roll-out of its proprietary early lung cancer detection test and continue expansion of its pipeline of biotech products for cancer detection and treatment support.Â “Both firms are steeped in bio-pharm and understand our firm and the space very well; we see it as a win/win; investors take comfort in that two experienced firms have vetted and structured the offer and we get their combined experience and investor reach” explains Jonathan Cohen-CEO
Limited Competition and Immense Market for Early Detection of Lung cancer
Lung cancer is the leading cause of cancer death and early stage cancer is much easier to treat and results in much higher rates of survival.Â With a target market of over $1.5 billion in the U.S. and $4 billion in China, the demand for products that discover lung cancer early is immense. Â 20/20’s lung cancer screening test uses a proprietary panel of biomarkers in the blood to detect early stage lung cancer. Their technology has been demonstrated to have a Â 50% higher sensitivity rate than the only other blood test currently marketed to primary care physicians in the U.S.; thus, 20/20’s test catches more cancers early (74% vs. 42%).Â The competitor’s product reportedly generated revenues of over $10 million in 2013, tapping into this large demand for early detection…
Click here to read the complete article.