Today, in cancer by and large, we treat cancer based on the tissue of origin, so if you have “Lung Cancer” there is a specific regiment for “Lung Cancer”, if you have “Colorectal Cancer” there are specific regiments for “Colorectal Cancer”, so knowing the primary tumor of origin is important for treatment decisions, so what we do is we take our test, we run the tissue on our test, we have 64 Micro RNAs and we can determine with a very high level of accuracy 90% of that legion immunated from 1 of 49 different tumor origins and that really helps the doctor hold in on the correct treatment strategy for that patient. So we have done our own internal validation work and we have also taken it to the outside world, I am not going to say so how does our information , how do our answers compared to the answers from the leading cup clinics in the world so we have done five post market validation studies and you see the information here, we have demonstrated concordance of 88-92% accuracy our results verses these cup leaders in the world.
Now, we have competitors who are not looking at Micro RNAs they are looking at Messenger RNAs and their data is far inferior to ours, their accuracy is in the range of 45-75% and we believe that is because Micro RNAs actually regulate Messenger RNAs, so when you are measuring the Micro RNAs you are measuring the main event. Now if you looked at the previous slide all those things going on in cancer those are being caused by Micro RNAs and when you are measuring Messenger RNAs you are measuring the downstream effective Micro RNAs that’s why our accuracy is greater. In addition, the other advantage of Micro RNA is they are very small and they state the enzymes that normally chew up Messenger RNAs so they are very stable, so we have much lower failure rates in our competition. We also give a single answer in most cases, it really helps the doctor to get hold on the treatment strategy and we have a four and half day turnaround time, the fastest in the field. So let’s talk about the market.
It’s a big potential market but we realize market today is still quite small and I will tell you why, so the potential market, we estimate to be in excess of six hundred million dollars in the US alone.
We get there by using the two hundred thousand influences where a test like ours can be used and at average selling price of approximately three thousand dollars but today the market is only being converted to the amount of twenty to twenty five million dollars and the reason for that we think is twofold. Doctors are looking to understand better real outcomes really improved for these patients, if I use this test and that date is starting to come out now and we are seeing some update in the market place.
