New Horizon Health Ltd. (HKEX: 6606), a pioneer in early cancer screening, made the keynote speech at the 27th National Cancer Prevention conference in China, which opened this year with Early Cancer Screening Day.
The conference was held in the New Media Building of the People's Daily and sponsored by the People’s Daily Health Client and the Colorectal Cancer Professional Committee of the Chinese Anti-Cancer Association. The event was aimed at raising awareness of the importance of early cancer screening.
According to a report published by the National Cancer Center, the number of new malignant tumor cases nationwide was approximately 3.929 million in 2015. Each minute, 7.5 people in China were diagnosed with cancer and 4.5 people lost their lives to cancer.
"Prevention and control of chronic diseases is important, we must do it early. Cancer prevention and early screening are key to lowering the death rate of cancer patients,” said Jing Wu, director of the Chronic Disease Center of the Chinese Center for Disease Control and Prevention.
"At present, lung cancer, gastric cancer, colorectal cancer, and liver cancer are still the main types of malignant tumors in China. These cancers, however, have a common feature: They are usually discovered when patients are already in the middle or late stages; and the cost of treating middle and advanced stage cancers is higher. If these high-incidence malignant tumors can be detected at an early stage, patients’ five-year survival rate will be much higher,” Wu said. “I believe we are one step closer to the target of 'raising the average life expectancy by one year' mentioned in the '14th Five-Year Plan'.”
Among all cancers, early colorectal cancer screening is considered one of the most effective means to combat the threat of cancer. And an early testing solution is already available in the market.
ColoClear, developed by New Horizon Health, received approval from China’s National Medical Products Administration (NMPA) in November 2020, becoming the only NMPA-approved molecular colorectal cancer screening test. While the high-accuracy ColoClear involves lab analysis, New Horizon also offers a self-conducted PupuTube, a stool test similar to a pregnancy stick that a patient can use at home.
A positive result would lead to further testing via colonoscopy or the non-invasive ColoClear test, which has a higher accuracy rate than PupuTube and involves lab analysis. Similar to ColoGuard in the U.S. market, ColoClear has the same accuracy and with the ability to detect precancerous lesions such as advanced adenoma.
"New Horizon aims to help more families to have access to our early screening test kids through home testing, and we are also educating the mass population about the importance of early cancer screening - eliminating people’s misunderstandings about cancer prevention and treatment,” Yeqing Zhu, executive director and CEO of New Horizon Health, said.
“On April 16, New Horizon Health will host its first ‘Battling Colorectal Cancer Day’ in Shanghai. Looking ahead, we will work with top digestive tract clinical experts to create the largest online video platform for early cancer screening in China."
New Horizon Health debuted in its initial public offering in Hong Kong on Feb. 18 and saw its stock triple on Day One, peaking at HK$85.90 per share. The offering was oversubscribed 4,133 times; over 1.07 million retail investors had subscribed to its shares.
Founded in 2015, New Horizon is a pioneer in early colorectal cancer screening in China. The company’s goal is to deliver its product to China’s 633 million at-risk population to detect early one of the most curable and preventive cancers. As Yu Gao, New Horizon’s chief financial officer, told CapitalWatch on IPO day, “There is a dire shortage of screening in China and the penetration rate is low – at 16%.”
New Horizon has laboratories in Beijing and Hangzhou, holding NCCL EQA Certificates and PRC Practice Licenses of Medical Institution. In addition, the company has completed the construction of its Guangzhou lab, with an annual capacity to test 500,000 samples, expected to reach full operation in the first quarter. New Horizon noted increased production volume for ColoClear and PupuTube in 2020 and, this year, expects demand to rise significantly thanks to achieving regulatory approval.
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