TruScreen Makes Progress in Key Markets Worldwide

GENERAL
Wed, Dec 15 2021 08:55 am

NZX/ASX Announcement

15 December 2021

TruScreen continues to make progress in key markets worldwide

Positive developments in Vietnam, Russia, China and Mexico

Key Highlights
• Milestone achieved in Vietnam. TruScreen to be the primary screening method in leading hospital in Hanoi, Vietnam, replacing traditional cytology
• TruScreen’s Russian distributor continues to raise awareness of the TruScreen technology throughout the Russian Federation, paving the way for market entry
• A new study published in the Chinese Journal of Eugenics and Genetics further reiterates TruScreen’s role in cervical cancer screening in China
• TruScreen’s Mexico distributor to partner with a local medical device financing company to bring the TruScreen cervical cancer screening device to its 3,000 strong client base of private and public hospitals

TruScreen Group Limited (NZX/ASX: TRU) (‘TruScreen’ or ‘the Company’) is pleased to provide a market update, outlining the Company’s progress in several of its key target markets.

TruScreen achieves major milestone, set to replace cytology at leading Hospital in Hanoi, Vietnam

In Vietnam, the TruScreen cervical cancer screening technology is set to replace the more traditional Liquid Based Cytology as the primary cervical cancer screening method at one of the largest and most prestigious gynaecologic hospitals, Hanoi Obstetric and Gynaecologic Hospital (HOGH). In early December, the Company’s local distributor upgraded the four TruScreen devices in the hospital to the newest software, enabling the replacement screening program to commence. Once the current COVID-19 outbreak eases, the Company expects to see a significant increase in TruScreen usage in Vietnam.

Russian marketing initiatives continue

TruScreen’s Russian distributor, IntelMed Systems (IMS), has been focussed on raising awareness of the TruScreen technology throughout the Russian Federation. In September, IMS participated in the 15th annual ‘Wave of Health’ hospital ship, with TruScreen included in the initiative. The annual all-Russian campaign health ship, with teams of doctors and innovative technologies, travel on the waterways visiting nine cities in the Russian Federation. The annual campaign is to introduce innovative technologies, and providing targeted health care, throughout the regions.

TruScreen’s portability is well suited for the ‘Wave of Health’ campaign as TruScreen’s technology is not dependant on pre-established laboratories. TruScreen also conducted master classes led by local key opinion leader, Professor Apolikhina, that were held in each of the cities, with local specialists participating in TruScreen Device demonstrations and patient examinations. Professor Apolikhina is from the Russia Federal State Budgetary Institution and the National Medical Research Centre of Obstetrics, Gynaecology, and Perinatology.

The campaign was conducted during the ongoing COVID-19 outbreaks. IMS’s marketing initiatives have increased the acceptance of the TruScreen technology throughout Russia.

Newly published paper confirms TruScreen’s role in cervical cancer screening in China

One of TruScreen’s major users in China, the 2nd Affiliated Hospital of Harbin Medical University in Harbin, a leading hospital in the Northeast, conducted a review of TruScreen’s performance compared to liquid-based cytology (LBC) at the hospital. The results showed TruScreen’s sensitivity* and specificity** were 88.24% and 78.85% respectively (LBC: 66.27% and 97.37%).

The published paper further confirms TruScreen’s role in cervical cancer screening in China, especially in low resource areas, with the authors concluding, “TruScreen can make timely and efficient diagnosis of cervical lesions and can make up for the shortcomings of limited application of LBC examination at the basic level. It is of great significance for the screening of cervical cancer and precancerous lesions and has high clinical application value.”

In November, strong results from stage 1 of an ongoing multicentre clinical trial in Hunan province were presented at the 34th international Papillomavirus Conference (IPVC 2021). The clinical trial compared the TruScreen cervical cancer screening to LBC and high-risk HPV DNA testing (hrHPV). Stage 1 of the trial of 1,162 women, in 6 hospitals across Hunan province. TruScreen’s reported sensitivity* for detection of CIN2/3 was 83.3% (LBC 81.3%, hrHPV 91.7%) and specificity** was 44.4% (LBC 69.9%, hrHPV 27%). The results were presented at IPVC by the lead investigator for the trial, a top key opinion leader in the province.

These results are particularly important because TruScreen’s results are available immediately in areas where the infrastructure to support LBC and hrHPV testing are either unavailable or require lengthy turnaround times between conducting the test and receiving the results with the unfortunate potential for loss of patient contact.

Mexico distributor to partner with medical device financing company

TruScreen’s Mexico distributor has partnered with a local medical device financing company to bring the TruScreen cervical cancer screening device to its 3,000-strong client base of private and public hospitals. The financing company will market financing packages of TruScreen Devices and Single Use Sensors (SUS). The TruScreen product introduction meeting is scheduled for January 2022, with 100 doctors and specialists to attend. This partnership opens innovative sales channels for the Company and extend the TruScreen commercial user base in Mexico.

TruScreen CEO Juliet Hull said: “As we come to the close of CY2021, we are pleased to continue to see successes throughout our markets, despite the challenges faced due to the pandemic. Our strong distribution network and their innovative market access has continued to lay solid foundations throughout the year, and we look forward to seeing their hard work payoff in the new year. We have many exciting opportunities ahead as we continue to work towards a world without cervical cancer.”

This announcement has been approved by the Board.

-ENDS-

For more information, visit www.truscreen.com or contact:
Juliet Hull
Chief Executive Officer
juliethull@truscreen.com

Guy Robertson
Chief Financial Officer
guyrobertson@truscreen.com

Julia Maguire
Investor Relations
julia@thecapitalnetowrk.com.au
+61 2 8999 3699

Announcement PDF

Markets News

Markets
How to survive a bear market
Dan Brunskill | Fri, 24 Jun 2022

Bear markets can be stressful but they also present opportunities for investors, says Salt Funds' Greg Fleming.  

Markets FREE
Index heavyweights pull NZ shares higher
Ella Somers | Thu, 23 Jun 2022

Peter McIntyre, an investment adviser at Craigs Investment Partners, said it had been a “strong performance” in today’s market.

Infrastructure
How we can fix New Zealand's ports – Don Braid
Brent Melville | Thu, 23 Jun 2022

The head of the multinational logistics group says having container cranes sitting idle across the country is a waste of assets

Markets Exclusive
Investment platform Stake brings stock lending to NZ
Dan Brunskill | Thu, 23 Jun 2022

The zero-brokerage fee share trading platform is looking for ways to bring in revenue and make its business model more sustainable. 

Infrastructure
Fletcher to deliver at least $850m operating earnings in 2023
Jenny Ruth | Thu, 23 Jun 2022

Fletcher Building achieved second-half profit margins of 9.5%, just below its target of 10% by the 2023 financial year.

Markets market close
NZ shares fall as Eroad near all-time low
Dan Brunskill | Wed, 22 Jun 2022

Eroad had a second day as the index’s biggest decliner, falling more than 5% to $1.57 and bringing its decline over the past year to almost 75%.

Infrastructure
Fletcher said Gib orders reached double capacity
Staff reporters | Wed, 22 Jun 2022

Fletcher's new plant at Tauriko, due to open next year, will increase industry capacity by 30%.

Infrastructure
Craigs recommends investors be ‘overweight’ Fletcher shares
Jenny Ruth | Wed, 22 Jun 2022

Even under a “bear-case scenario”, the house building pipeline should support Fletcher’s medium-to-long-term performance.

Markets FREE
NZ shares rise as recession fears ease
Ella Somers | Tue, 21 Jun 2022

Some investors in NZ’s market took the opportunity to buy up “beaten up” stock on the index today, Devon Funds' Greg Smith said.

Markets market close
NZ shares flat as recession risk puts investors off trading
Dan Brunskill | Mon, 20 Jun 2022

Trading volumes were unusually light, with US markets closed tonight for a national holiday.

Infrastructure
NZSA, Simplicity call for Fletcher chair Bruce Hassall to resign
Jenny Ruth | Mon, 20 Jun 2022

The shareholder representatives say the Fletcher board must bear ultimate responsibility for the company’s poor performance and the Gib plasterboard shortage.

Markets
NZME makes up for slow buyback with $10m special dividend
Dan Brunskill | Mon, 20 Jun 2022

NZME has only spent $5.3m of the $30m set aside for share buybacks. 

Markets
Macquarie says Australian banks are profiting from low term deposit rates
Dan Brunskill | Mon, 20 Jun 2022

Are banks being too slow to raise term deposit rates? Some analysts say yes. 

Markets Market Close
Cautious trading follows week of share market turmoil
Ella Somers | Fri, 17 Jun 2022

Peter McIntyre, an investment adviser at Craigs Investment Partners, says New Zealand’s market has been "reliably well-behaved over the course of the day".

Technology
Fabrum open to listing to keep up with hydrogen demand
Brent Melville | Fri, 17 Jun 2022

The firm has doubled its headcount and is looking to raise capital to expand its manufacturing and engineering focus into green hydrogen applications.

Energy
Australia's electricity train wreck has lessons for NZ
Ian Llewellyn | Fri, 17 Jun 2022

Meridian says the fact that Australia's electricity market has turned into a train wreck shows its decision to pull out was the right one.

Primary Sector
Government favours Fonterra’s commercial interests: MPI
Jenny Ruth | Fri, 17 Jun 2022

The Ministry for Primary Industries estimated Fonterra’s restructuring would cost the average farmer between $135,000 and $400,000.

Transport
HW Richardson takes 'uncommercial' plunge into hydrogen
Brent Melville | Fri, 17 Jun 2022

New Zealand's biggest transport operator plans to have its first 10 dual-fuel hydrogen trucks on the road next year. 

Markets market close
NZ share market climbs as US Federal Reserve hikes interest rates
Dan Brunskill | Thu, 16 Jun 2022

Oanda market analyst Edward Moya said the absence of a Bitcoin rally could be a troubling sign for some investors.

Media ANALYSIS
Wounded Sky under pressure to return cash after MediaWorks U-turn
Daniel Dunkley | Thu, 16 Jun 2022

Sky TV and MediaWorks will be brushing themselves off after a bruising response to their proposal scotched a SkyWorks deal.

Media
Sky pulls out of MediaWorks takeover
Daniel Dunkley | Thu, 16 Jun 2022

Sky TV has backed away from a dalliance with radio and outdoor advertising.

Markets
Mere mortals: investor confidence ebbs
Dan Brunskill | Thu, 16 Jun 2022

An annual survey of investor confidence shows the market fall has got some people rattled. 

Primary Sector
Fonterra restructure 'not in the national interest', says report
Jenny Ruth | Thu, 16 Jun 2022

It's important that constraints remain on Fonterra that counterbalance its privileged position in the dairy sector and the national economy, says TDB Advisory.

Markets market close
NZ shares stabilise as US Fed meets
Dan Brunskill | Wed, 15 Jun 2022

BNZ Research said there was now “a good chance” the Reserve Bank of NZ would hike 75 basis points when it meets next month.