[Special Stock] IMBDX, Early Pancreatic Cancer Detection Increases Survival Rate 5-10 Times... Full-Scale Overseas Expansion

Precision medicine company IMBDX has continued its upward trend for the second consecutive day. The news that it will present research results using its multi-cancer screening service, ‘CancerFind,’ at the '2024 European Society for Medical Oncology (ESMO)' conference held in Spain from the 13th to the 17th appears to be influencing its stock price.

With the market's keen interest in early cancer screening, this presentation is expected to be a great opportunity to showcase IMBDX's potential through the excellent performance of CancerFind, positively impacting not only the academic community but also its entry into the global market. By achieving sensitivities of 80.6% and 84.7% in pancreatic and ovarian cancers, respectively?both of which lack standard screening tests?CancerFind is anticipated to offer new possibilities for treating cancers that have been difficult to detect early and have poor prognoses.

As of 9:21 AM on the 10th, IMBDX was trading at 18,710 KRW, up 3.94% from the previous day.

CancerFind, developed by IMBDX, is an innovative product capable of detecting multiple cancers (currently 8 types) early through a simple blood test, significantly contributing to reducing the economic burden of cancer treatment and improving patient survival rates.

At ESMO, the performance of CancerFind for eight major cancers?colorectal, stomach, liver, pancreatic, lung, breast, ovarian, and prostate cancers?will be disclosed. The AI algorithm, which has greatly improved analytical performance compared to previous versions, has significantly enhanced the efficiency of analyzing cancer genomic data.

Kim Tae-yu, CEO of IMBDX, stated, "Early detection of cancer is a crucial factor in increasing cancer patients' survival rates," adding, "Ultimately, we are strengthening product competitiveness to enable early detection of more than 26 types of cancer with a single blood test." He further expressed his ambition, saying, "We will secure the golden time for treating intractable cancers and contribute to the promotion of public health."

According to research by the American Cancer Society, 71% of cancer deaths in the U.S. in 2021 were caused by cancers such as pancreatic, liver, and brain cancers, which lack separate screening tests. Kim Choong-hyun, a researcher at Mirae Asset Securities, explained, "Introducing multi-cancer early diagnosis allows for early detection and timely treatment of cancers that are difficult to diagnose early with existing methods," and added, "It is expected to increase survival rates by 5 to 10 times."

Heo Seon-jae, a researcher at SK Securities, said, "With the launch of the CancerFind product last November, IMBDX will begin penetrating the global liquid biopsy-based early cancer diagnosis market, which is worth about 100 trillion KRW," and analyzed, "IMBDX, as a fast follower in the liquid biopsy market, has secured sufficient reliability in its technology through clinical results, publications, registration in national cancer conquest projects, and approval from the Korea Disease Control and Prevention Agency."

Last month, IMBDX applied for an innovative medical technology evaluation for its CancerDetect (recurrence monitoring) product. Applying for this evaluation means that the commercialization of the CancerDetect product, which was previously used for research purposes, is imminent. The evaluation period takes 120 days, and it is expected that the product will enter the medical market within the year in a non-reimbursed form.

Researcher Heo emphasized, "The approval of the CancerDetect innovative medical technology evaluation is expected to proceed smoothly," adding, "While medical technology has advanced over the past 30 years, increasing cancer patient survival rates to the 70% range, cancer recurrence diagnostic technology still relies on traditional imaging tests such as CT, MRI, and endoscopy."

The global recurrent cancer market is estimated to be about 30 trillion KRW. Leading companies in minimal residual disease detection include Natera and Guardant Health.