HealthLinx's (ASX: HTX) successful expansion of sales of its first-in-class ovarian cancer diagnostic test, OvPlex™, into the Singapore and Malaysian markets has prompted further expansion into other Asian markets.
OvPlex™ will hit the Indian market in the September quarter of 2012, with first sales to begin in Mumbai from August 1.
HealthLinx's distribution partners, NEX Innovations Exchange and Metropolis Healthcare, will then ramp up expansion into all other major Indian cities in the following six months.
Indicating the market potential for OvPlex™, India is one of the world's fastest growing and largest economies.
Sales in India are expected to rapidly increase over the next six months.
Nick Gatsios, HealthLinx managing director, commented:
"This expansion is an excellent result for women in India who will shortly have access to OvPlex™.
"As a company we are excited with INEX's proactive expansion strategies and management of both companies is working very closely to ensure further expansion occurs in a seamless, cohesive and timely manner."
OvPlex™ has been available in the Singapore and Malaysian markets since October 2010.
Since the start of sales in these markets, INEX has exceeded expected sales targets by around 25% with continued growth.
HealthLinx is ramping up global expansion and development of OvPlex™ following the signing of a four year funding agreement with La Jolla Cove Investors for up to US$9 million (A$8.5 million) in December 2011.
The funding will support HealthLinx's push into key North American markets to supplement its existing sales jurisdictions of Australia, Singapore and the United Kingdom.
The company also plans to expand sales of OvPlex™ into other jurisdictions in which INEX has an option under the distribution agreement, including Indonesia and Thailand.
OvPlex™ is a diagnostic test that measures levels of five proteins in a patient's blood. One of the proteins is CA125, which has been used for several years for the detection and monitoring of ovarian cancer.
The ovarian cancer market is estimated to be around US$270 million per annum.
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