Pacific Edge Named in TIN Report Top 10 List
Pacific Edge named number 6 in TIN Top Ten Hot Emerging Companies for 2017
Pacific Edge’s global growth and positive revenue trajectory has been recognised with the cancer diagnostics company named number 6 in the TIN Top Ten List of Hot Emerging Companies for 2017.
Technology Investment Network produces the annual TIN Report tracking the progress of New Zealand's technology companies, and selection is based on revenue growth for FY17. The TIN Top Ten Hot Emerging Companies for 2017 includes firms with revenues between $8.2 million and $16 million, with a collective revenue increase of 37%1.
The top companies by revenue growth were named at an event in Auckland last night. A number of the high growth companies named, including Pacific Edge, are gaining traction and exposure in the US. TIN managing director, Greg Shanahan, noted that it was indicative of “a growing level of expertise and understanding of how to grow a global business. In a first for New Zealand, TIN200 companies’ total revenue now exceeds $10 billion, making them third in contribution to New Zealand’s GDP behind dairy and tourism.”
Pacific Edge has been building its commercial business of the US market over the past four years and now has an effective strategy that it is using to build awareness, trial and gain commercial adoption of its innovative bladder cancer diagnostic tests. A number of significant milestones were achieved in 2016 including the completion of the Federal Supply schedule, the Veteran’s Administration and TRICARE contract enabling access to the US’s active military and veterans, and increasing the product suite to four novel molecular diagnostic tests.
Pacific Edge’s successful progress in the implementation of its strategy since launching in the US in mid-2013 is reflected in the significant uplift in commercial revenue in the past two years.
Pacific Edge CEO, David Darling, says: “Our portfolio of Cxbladder products is now in the market with Cxbladder Resolve launching in NZ in late 2016 and planned for launch in the USA late this year. Having four molecular diagnostic products across the clinical diagnosis and management pathway for urothelial cancer is a global first for any company.”
“Cxbladder is being adopted at an increasing pace by urologists in our key markets. Medical products by their very nature have a high threshold of proof of performance before mainstream adoption and it is great to see this happening now particularly in our home country of New Zealand.”
“We were pleased to see our positive progress recognised again in the TIN Report announced last night. We are a small company and our team continues to punch well above its weight in the global market. We remain firmly focused on high growth.”
1 TIN Report 2017, 13th Edition, Technology Industry Analysis