VolitionRX (VNRX) Study update summary

Commercial strategy and market opportunity

• Nu.Q Vet Cancer test is available in over 20 countries, with over 120,000 tests sold and $23 million in milestone payments received, plus an additional $5 million expected this year or in 2025.

• Focus on licensing agreements with major veterinary and human health companies, generating recurring revenue through upfront milestones, royalties, and component sales.

• Strategy emphasizes low operational and capital expenditure, targeting large unmet needs in billion-dollar markets such as lung cancer, sepsis, and other acute conditions.

• Multiple ongoing licensing discussions and international partnerships in oncology, including national screening programs and direct/indirect sales of CE-marked products in Europe.

• Strong intellectual property portfolio with 75 patents granted, 128 pending, and coverage up to 2044.

Differentiation and technology platform

• Nu.Q tests are platform-agnostic, adaptable to various diagnostic workflows including manual, reference, specialist, and point-of-care labs.

• Intellectual property spans 55 patent families, supporting broad commercialization.

• Nu.Q assays offer low cost, low sample volume, quick turnaround, and adaptability to different platforms.

Go-to-market strategy

• Extensive R&D conducted with research partners, with a proven commercial model in veterinary diagnostics.

• Monetization through commercial contracts, upfront and milestone payments, royalties, and component sales.

• Human diagnostics strategy focuses on EU adoption, licensing deals, and collaboration with liquid biopsy companies.