Pacific Edge Named in TIN100 Top 10 List
The growing success of cancer diagnostics company, Pacific Edge, has once again been recognised with company named in the 2016 TIN100 Top Ten list of Hot Emerging Companies for the second year in a row.
Technology Investment Network produces the annual TIN100 report, which is an analysis of the performance of the top 200 New Zealand-founded high-tech companies.
TIN Managing Director, Greg Shanahan, said: "This year's Ten Hot Emerging Companies in the TIN100 Report are an exceptionally high-performing group. These ten companies almost doubled the record performance of the companies on last year's list with a continued revenue growth of over $61 million (or 138%).
"All ten companies are exciting examples of how technology is disrupting the way we do business, from the development of wireless power systems to new remote methods for diagnosing cancer," Mr. Shanahan added.
The US is a major market for a number of the high growth companies named at the event in Auckland last night, including Pacific Edge.
Pacific Edge has identified the US, the world’s biggest healthcare market, as its largest opportunity for its innovative bladder cancer diagnostics tests, and also has a number of other targeted international markets, including New Zealand, Australia and South East Asia.
While still in the early stages, the company’s strategy to build awareness, clinical trial and acceptance of its products, is driving significant year on year increases in commercial revenue.
Pacific Edge CEO, David Darling, said: “We now have three products in market and a fourth product to be launched in New Zealand later this year, followed by a global rollout in our targeted markets in 2017. Our strategy to offer a ‘one stop shop’ of bladder cancer diagnostic tests to meet different clinical needs is reaping returns, as urologists and patients realise the benefits of our simple, accurate and non-invasive Cxbladder tests.
“We were pleased to see our positive progress recognised in the TIN100 Top Ten list. The list includes some heavy hitters in ICT and software-as-a-service companies and we are delighted to be recognised alongside them in the Top Ten. We are a small company and our team continues to punch well above its weight in the global market.”