COV - Cleo Diagnostics

[System]

Cleo Diagnostics Ltd is a medical diagnostics/devices entity focussed on the development of non-invasive blood based IVD tests to detect the presence, and recurrence, of ovarian cancer.

The Company has developed a three-phased product development strategy that will deliver three related tests for ovarian cancer detection:

(a) Triage Test – a pre-surgical test to determine the likelihood that a pre-surgical ovarian mass in a patient not yet referred to an oncologist, is malignant.
(b) Recurrence Test – a post-surgical test to identify whether a cancer is recurring following surgical removal and chemotherapy of cancerous tissue.
(c) Screening Test – a screening test to identify early-stage ovarian cancer in patients who do not present any symptoms consistent with ovarian cancer.

Each of the three tests are non-invasive and are performed using a sample of the patient’s blood. They are specifically designed to be low-cost and fit within existing pathology lab infrastructure.

Following its IPO, the Company's primary focus will be to bring the Triage Test to market which has to date produced strong results to accurately differentiate patients with malignant ovarian cancer from those with benign gynaecological conditions.

It is anticipated that COV will list on the ASX during August 2023.

Cleo Diagnostics Limited

cleodx.com

 

[Dona Ferentes]

Listing date	11 August 2023 #
Company contact details	https://cleodx.com/ Ph: 613 9614 0600
Principal Activities	Medical diagnostics /devices development and commercialisation
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	COV
Capital to be Raised	$12,000,000
Expected offer close date	28 July 2023
Underwriter	Not underwritten. Taylor Collison Limited (Lead Manager)

 

[Dona Ferentes]

a few weeks late, but listed yesterday. ... After tbe initial flurry, COV trading just above 20c IPO

... and an announcement;
.
CLEO Granted U.S. Patent for Key Novel Ovarian Cancer Biomarker

Highlights
▪ U.S. Patent secures IP protection in one of the world's largest diagnostics markets
▪ Supports CLEO's commercialisation pathway into its primary U.S. target market
▪ Further patents are pending in additional countries

 

[Dona Ferentes]

.. and a bit of a lift today to push COV above IPO Mark. There was $10mill in cash at end March

.
Cleo's Ovarian Cancer Blood Test Outperforms Current Clinical Benchmark

Highlights
§ A benchmarking study comparing CLEO’s ovarian cancer blood test against ultrasound has been published in scientific journal “Cancers”
§ The study confirmed that CLEO’s initial test for the surgical triage market:
– Significantly outperforms current clinical workflows that use CA125 and ultrasound to predict malignancy;
– Correctly detected 90% of early-stage cancers compared to only 50% using standard workflows; and
– Can be easily adopted for use into clinical practice.
§ The superior performance of CLEO’s test now compared to all current routine clinical tools shows the significant global potential for the test in clinical decision making prior to surgical intervention.