NAMUR, Belgium, April 21, 2017 /PRNewswire/ -- VolitionRx Limited (NYSE MKT: VNRX) opened its new research and development facility this week. A video showcasing the new facility and opening event is available to view at http://volitionrx.com/news/video-gallery
The new building will enable the Company to increase capacity to carry out clinical trials and to expand its scientific team, thereby expediting the large number of trials underway. The new custom-designed facility comprises 9,000 square feet of office space and 10,000 square feet of high quality, purpose-built laboratory space. The facility is located in the Crealys Science Park, Isnes in the Wallonia region of Belgium, an area popular with other leading biotech and pharmaceutical companies.
"Our capacity to run large clinical trials has increased significantly with this five-fold increase in laboratory space. This will facilitate large scale manual and automated robotic testing. We will now have the ability to work on several large trials at the same time, namely: the frontline screening colorectal cancer tests and lung, prostate and pancreatic cancer," commented Dr Marielle Herzog, Research and Development Director of Volition.
"We are delighted to have moved into our new R&D facility as we have outgrown our previous premises. This exciting upgrade allows us to accelerate our clinical trials and expedite the commercialization of our products" said Dr. Gaetan Michel, CEO of Belgian Volition, "I would like to thank Namur Invest, Walloon Export and Foreign Investment Agency (AWEX), the Walloon Region Government and in particular, the Trade Minister, Monsieur Jean-Claude Marcourt, for all of their support in helping make this facility very affordable. With the support and efforts of our contractors AD&C Group, we opened the facility on time and within budget."
Belgian Volition acquired the 19,000 square foot property for EUR 1.2 million, of which EUR 1.12 million was financed pursuant to a Real Estate Capital Lease Agreement with ING Asset Finance Belgium S.A. As part of the transaction, Belgian Volition granted ING a right of emphyteusis (a form of leasehold) on the property and ING granted Belgian Volition a 15-year lease over the property with an option for Belgian Volition to purchase the property outright at the end of the lease upon payment of EUR 33,600. The investment was further supported with the financial backing of Preface S.A./Namur Invest.
Volition is a multi-national life sciences company developing simple, easy to use blood-based cancer tests to accurately diagnose a range of cancers. The tests are based on the science of Nucleosomics®, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid -- an indication that disease is present.
As cancer screening programs become more and more widespread, our products aim to help to diagnose a range of cancers quickly, simply, accurately and cost effectively. Early diagnosis has the potential to not only prolong the life of patients, but also to improve their quality of life.
Volition's research and development activities are currently centered in Belgium, with additional offices in London, New York, Texas and Singapore, as the company focuses on bringing its diagnostic products to market first in Europe, then in the U.S. and ultimately, worldwide.
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Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to the effectiveness of Volition's bodily-fluid-based diagnostic tests as well as Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties. For instance, if we fail to develop and commercialize diagnostic products, we may be unable to execute our plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products in the clinical IVD market; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic products Volition might develop; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics market and its rapid technological change; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations, estimates and projections about Volition's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release, and, except as required by law, Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Nucleosomics®, NuQ®, Nu.QTM and HyperGenomics® and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks, service marks and trade names referred to in this press release are the property of their respective owners.
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SOURCE VolitionRx Limited