Biotech Market Spotlight: HealthLinx

UPDATED: Victorian biomarker and diagnostic company, HealthLinx (ASX:HTX), has seen its share price bounce by over 110% in afternoon trading, up 9.3c to 17.5c on the back of news that its ovarian cancer diagnostic product, OvPlex, will be marketed in the United Kingdom by distribution partner, Intus Healthcare.

According to a company release, the market size is in excess of three quarters of a million units per year, with HealthLink receiving around $70 royalty per unit, depending on exchange rates.

In July 2009 the company obtained European Certification for OvPlex paving the way to market and sell the product within the European community.

Intus Healthcare reached an exclusive distribution agreement with HealthLinx in February 2009 for distribution of OvPlex in the UK and Republic of Ireland (ROI) with an option to enter other EU countries.

The promotion of OvPlex is supported by the Spire Healthcare network of 36 hospitals that have multiple pathology operations in the UK. Women can now order the OvPlex test directly from Intus Healthcare (web site Ovplex.co.uk) and visit a Spire location closest to them, where a small blood sample will be taken. The cost of an OvPlex test will be £275 (incl. VAT).