1. What is the innovation?
Sienna’s new in-vitro diagnostic (IVD) is the first ever test for the detection of an important cancer-related biomarker called hTERT. The test is an adjunct to urine cytology testing which is the standard-of-care non-invasive test for bladder cancer.
2. What benefits does the innovation bring?
- The test can assist in the Identification of patients with an increased risk of bladder cancer.
- A positive hTERT result may identify patients with an increased risk of bladder cancer who may otherwise not be closely followed, while a negative hTERT result is associated with a reduction in risk for bladder cancer.
- The test improves the detection of lesions not well detected by urinary tract cytology alone.
3. What commercial success and/or benefit to society has it achieved?
The test has been CE Marked, and registered as an IVD with the relevant regulatory authorities in the USA, Europe and Australia.
While still in the early stages of commercialisation, the test achieved revenues of $268,000 for Sienna in the last reported half year financials (to Dec 2017). That represents thousands of tests, all of which improve the diagnostic information available to physicians in seeking to make early diagnosis of cancer in their patients.
The product has so far been launched in USA, Denmark, Switzerland and Sweden.
4. What lessons learnt can you share?
Understand the unmet need in the market, then develop the product to address that need. Find the right distribution partners with the reach, capability, and motivation to drive and support your product. Build a patient and supportive shareholder registry. Focus your efforts on the most important and impactful strategies. Hire people with broad skill sets.
5. How many new jobs has this innovation created?
Sienna is now 10 full-time employees in Australia, plus a significant network of contractors and distribution partners in overseas markets.