Sienna Cancer Diagnostics (ASX:SDX), a medical technology company focussed on the development and commercialisation of innovative cancer-related tests, has appointed Axlab A/S as its exclusive distribution partner for Denmark and Sweden.
This distribution agreement, the first to be signed since Sienna’s ASX-listing, provides Axlab with the right to sell Sienna’s product to pathology laboratories, where it will be used as an adjunct to urine cytology to assist pathologists and urologists in their diagnosis of bladder cancer.
According to Sienna CEO, Matthew Hoskin, “I was impressed with the Axlab facilities and team, and I’m confident they’ll be successful in penetrating our product into these important parts of the Nordic market. The existing focus and expertise within Axlab is ideal for adding the Sienna product, as they have significant knowledge and capability in the areas of cytology and also in advanced staining, which is exactly where our test fits in the market.
“Now that we have an agreement in place, we’ll work with Axlab to train their staff, establish inventory and supply logistics, then assist them in establishing an initial reference laboratory within their territory.”
CEO of Axlab, Niels Møller Schlie, said, “We’re very pleased with the agreement and opportunity to work with Siena Cancer Diagnostics. We believe the hTERT test will positively affect the ability of urologists to detect bladder cancer earlier, and thereby improve patient welfare and lower overall costs in the healthcare system.
“We see significant possibilities for business growth in the agreed markets with the Sienna hTERT test. Axlab’s committed goal is to be a step ahead to be able to support our customers with the best possible technologies. The partnership with Sienna ensures this goal in the IHC business in Denmark and Sweden, and the combination of an innovative product with our commitment will most certainly be beneficial for both pathology and the future of our companies.”
“It’s very encouraging to see this progress being made on our geographical expansion strategy. Launching our product into new markets is one of the four core growth strategies the Sienna team is working on. There are many more countries in our sights, and we hope to partner with equally capable distributors in each of them,” added Minesh Lalla, Sienna business development manager.