On May 23, Novell health and prenetics Group Limited (hereinafter referred to as prenetics) released a strategic cooperation to jointly promote the listing and market coverage of Chang Weiqing, a colorectal cancer home early screening product of Novell health in Hong Kong, Macao and Taiwan, and plan to explore market opportunities in Southeast Asian countries or regions in the same period. During the cooperation period, Chang Weiqing was a colorectal cancer early screening product exclusively cooperated by prenetics. On June 8 this year, Chang Weiqing will enter the Hong Kong market.
Chang Weiqing is the only cancer early screening molecular testing product approved by the State Drug Administration. It was independently developed by nuohui health and completed the first prospective large-scale multi center registered clinical trial of cancer early screening in China in 16 months.
Based on the profit distribution agreement reached by both parties, Novell health and prenetics will share the profits obtained by Chang Weiqing in the cooperative market in a proportion of 50:50. According to the completed Changweiqing authorization agreement, prenetics has been authorized by Novell health to provide Changweiqing central laboratory testing services within the specified market scope.
Zhu Yeqing, executive director and CEO of nuohui health, said that colorectal cancer screening has great growth opportunities in Asia. According to the Research Report of frost Sullivan, in 2019, the high-risk population of colorectal cancer in Southeast Asia excluding Hong Kong and Chinese Mainland reached 128million, and the proportion without screening was 94.3%. The market size of colorectal cancer screening in Hong Kong is expected to grow from US $1.3 million in 2020 to US $290 million in 2030, with a 10-year CAGR of 71.7%. Over the same period, the size of the same market in Southeast Asia is expected to increase from US $33.4 million in 2020 to US $2.79 billion in 2030, with a CAGR of 55.7%.
Taking the Hong Kong market as an example, according to the data of the Hong Kong Cancer Information and Statistics Center of the hospital authority, colorectal cancer has been ranked among the top two most common cancers in Hong Kong since 2012, and continues to occupy the second place in the high incidence of fatal cancers. About one in every 6-7 new cancer patients is colorectal cancer patients. In September 2016, the Department of health of the HKSAR government announced the launch of a pilot phase colorectal cancer screening program, which provides government funded screening for eligible Hong Kong residents aged 50-75 in stages, and is expected to achieve 300000 colorectal cancer screening. The main bowel cancer screening methods in Hong Kong market are stool occult blood test and colonoscopy. The average market test cost of colonoscopy is HK $7800-hk $10420. “Based on this, some new technologies and products are needed to help further promote the colorectal cancer screening program in Hong Kong.” Zhu Yeqing said that the pricing of Chang Weiqing’s listing in Hong Kong will be disclosed on the day of listing on June 8. Chang Weiqing’s “going to sea” will be divided into three steps. The first step is to take Hong Kong as an opportunity to radiate Macao and Taiwan, China; The second step is to radiate to Singapore, Malaysia and other Southeast Asian countries with a high proportion of Chinese Americans; The third step is for Chang Weiqing to drive the commercialization of nuohui health’s other pipeline products in Southeast Asia and other international markets. In addition to Chang Weiqing, the company’s listed products youyouguan and pupuguan also have “going to sea” plans, which will be gradually announced in the future.
In addition to the “going to sea” layout of commercial products, the international layout of nuohui health in R & D has also been opened. From 2021 to 2022, Novell health invested in Singapore’s biotechnology Unicorn Marui group, which focuses on microRNA technology for early cancer screening, Germany’s listed company epigenomics AG, which focuses on molecular diagnosis based on blood colorectal cancer testing, Swiss company proteonmedix, lung cancer clinical testing service and product development company orbit genomics, and home testing Center arionbio
In 2021, nuohui health achieved a revenue of 210 million yuan, a year-on-year increase of 201.5%. Among them, Chang Weiqing achieved an income of 97.2 million yuan, a year-on-year increase of 159%.
