Sienna Develops Early Cancer Detection Test

Rarely do investors in a biotech IPO get a chance to invest in an established company that is already generating revenues, and has FDA approval for their products.

But that is the investment opportunity that Australians can access if they purchase the issue of Sienna Cancer Diagnostic.

Sienna produces is a novel cancer detection test that is being used to great success in the early identification of bladder cancer. The test can be conducted using existing laboratory infrastructure, and dramatically improves the accuracy of the current urine cytology tests for bladder cancer.

The test addresses a substantial unmet clinical need, with approximately 25 percent of existing urine cytology tests for bladder cancer currently inconclusive.

Sienna’s test also represents a strong commercial opportunity for the laboratories conducting the cytology screening. The tests currently cost the laboratories around $30 each in the US, with the laboratories entitled to medical rebates averaging US$108.38 per test.

The product should therefore provide an additional and lucrative revenue source for pathology laboratories in the US, which will help with the uptake of Sienna’s product. In fact, the laboratories currently offering the test are already using it in 70 percent of all their urine cytology screenings.

Given that there are between 1.3 and 1.6 million urine cytology test per year in the US alone, the application of Sienna’s test represents a strong commercial opportunity for Sienna, and its customers.

The test is the first commercial application for cancer detection using a biomarker called telomerase. The technology is based on research conducted by a team including Australian Elizabeth Blackburn, who shared a Nobel prize in medicine for their discoveries.

Telomerase are present in up to 85 percent of all cancers – and as such, the telomerase detection technology has the potential to be expanded to a wide range cancer screenings. In fact, of the overall cancer diagnostics market, Sienna expects its products to be utilised within the immunoassay, and histology/cytology segments, which currently represents approximately $US5bn per year.

Sienna therefore has a fantastic expansion opportunity into additional cancer screenings, and intends to use some of their IPO proceeds to help execute this.

The company has regulatory approvals for human clinical use with the relevant authorities in the USA, Europe and Australia, as well as established distribution channels in the USA, UK and Switzerland. They are already generating product sales revenues, and are on-track to generate their first half-year profit in the first half of 2017.

If you would like to find out more or get involved with the Sienna Diagnostics IPO, visit to download a prospectus.