Source BioScience to co-develop new cancer diagnostic approach

Source BioScience has announced its participation in a new collaboration aimed at creating a novel approach to the diagnosis and personalised treatment of cancer.

The company is to develop an integrated genetic test that characterises cancer tumours at a molecular level, utilising advanced DNA analysis technology from life science firm Illumina and tissue samples from the Barts Cancer Institute.

A grant of 500,000 pounds has been allocated to the collaboration via the Technology Strategy Board's Tumour Profiling and Data Capture to Improve Cancer Care funding competition.

It is thought that the new test will help to improve diagnosis and treatment outcomes by giving doctors a greater insight into patient response to specific drugs, as well as being cheaper and more effective than current technology.

Dr Cliff Murray, head of research and development at Source BioScience, said: "We believe it will significantly change health economics and push personalised medicine into the forefront of cancer treatment."

Last month, the company published its interim management statement for the year up to May 17th, reporting a 19 percent year-on-year increase in revenues.