Transforming Cancer Diagnosis: The Top 7 on Liquid Biopsy Companies the Cutting Edge

A liquid biopsy is a non-invasive medical testing procedures that uses a sample of a patient's bodily fluids, such as blood, to detect and analyze cancer cells or genetic mutations associated with cancer.

The top companies operating in this vertical are-

Qiagen N.V.

Market Position or History

In 2020, Qiagen acquired NeuMoDx Molecular, a Michigan-based molecular diagnostics company, for USD 248 million. This acquisition expanded Qiagen's portfolio of molecular diagnostic solutions, particularly in the area of infectious diseases.

Business Overview and Strategies

With its headquarters in Venlo, Netherlands the company was established on November 29, 1984. It specializes in sample assay technologies for molecular diagnostics, pharmaceutical research, and  applied testing, among others. It has also emerged as one of the leading companies in the development of liquid biopsy technologies. Its liquid biopsy solutions offer a non-invasive way to detect cancer and monitor treatment effectiveness through the analysis of circulating tumor DNA and RNA in bodily fluids like blood or urine

Qiagen  envisions a future where healthcare is more precise and personalized through the use of molecular insights provided by their technologies.

Strengths

• It has a global presence with operations in over 35 nations.
• It has a strong brand reputation in the biotech industry, with a long history of innovation and expertise in molecular diagnostics.
• The company has a strong financial position, with a steady revenue growth over the years and a healthy balance sheet.

Weaknesses

• It faces intense competition in the biotech industry, with many established players and new entrants vying for market share.
• It is highly vulnerable to political and economic risks including trade restrictions and currency fluctuations.
• The company's dependence on key customers or markets may expose them to significant risks, such as revenue concentration or supply chain disruptions.

Adaptive Biotechnologies

Market Position or History

In 2020, Adaptive Biotechnologies acquired Nodality, a biotech company that develops technologies to analyze cellular signalling pathways in cancer and immune cells.

Business Overview and Strategies

Headquartered in Seattle, United States, the company was established in 2009. It specializes in the development of immune-driven therapies and diagnostic tests. The company  uses next-generation sequencing (NGS) technology to decode the genetic information contained in immune cells.

Adaptive Biotechnologies’ primary vision is to leverage the power of the human immune system to diagnose and treat diseases more effectively.

Strengths

• The firm’s unique approach to diagnosing and treating diseases has garnered attention from investors and collaborators alike.
• It has a broad range of products in development, including diagnostic tests and immunotherapies for multiple diseases.
• It has a strong reputation for quality, with rigorous quality control processes and certifications.

Weaknesses

• Its financial performance is vulnerable to fluctuations in the global economy and changes in healthcare policies and regulations.
• The company is primarily focused on the US market, which could limit its growth potential in other regions.
• It faces significant challenges in scaling up production of their products to meet demand.

ANGLE plc

Market Position or History

In January 2022, ANGLE plc announced that it had received Breakthrough Device designation from the US FDA for its Parsortix system for use in the detection and monitoring of ovarian cancer. The designation is intended to accelerate the development and regulatory review of innovative medical devices.

Business Overview and Strategies

The company was established in 1994 with its headquarters in the United Kingdom. It primarily develops liquid biopsy tests for cancer diagnosis and management. ANGLE plc's flagship product is the Parsortix system, which is a liquid biopsy platform that can capture and analyze circulating tumor cells (CTCs) from a simple blood test. The Parsortix system has the potential to enable earlier detection of cancer, monitor treatment response, and identify the emergence of resistance to therapy.

The company's vision is to revolutionize cancer care by providing non-invasive, highly accurate tests that can detect cancer at an early stage and guide treatment decisions.

Strengths

• It has established partnerships with leading cancer centers and pharmaceutical companies, which could drive commercial adoption of its technology.
• The company has a strong intellectual property portfolio, with multiple patents and trademarks covering its liquid biopsy platform.
• Its technology has potential applications beyond cancer, such as in infectious disease and autoimmune disorders.

Weaknesses

• It is highly vulnerable to rapid advances in competing diagnostic and therapeutic approaches.
• The company's focus on personalized medicine may limit its potential market size and profitability.
• The success of ANGLE plc's technology is highly dependent on factors outside of its control, such as changes in healthcare policies and regulations.

Biocept Inc.

Market Position or History

In January 2022, Biocept announced that it had entered into a collaboration with a leading biopharmaceutical company to evaluate the use of its liquid biopsy technology in clinical trials for cancer drug development.

Business Overview and Strategy

Established in 1997, the firm has its headquarters in San Diego, United States. It specializes in liquid biopsy tests for cancer diagnosis and treatment monitoring. The company has developed a Target Selector platform, which uses circulating tumor cells (CTCs) and circulating tumor DNA (ctDNA) from a simple blood sample to provide physicians with real-time information on a patient's cancer.

Biocept’s core mission is to leverage the power of liquid biopsy technology to provide physicians and patients with more accurate and timely information about cancer, ultimately leading to better treatment decisions and improved patient outcomes.

Strengths

• It has developed a broad range of liquid biopsy tests for different cancer types, including lung, breast, prostate, and ovarian cancer.
• The company has a strong intellectual property portfolio, including patents on its liquid biopsy technology and biomarker detection methods.
• It has a diverse range of revenue streams, including laboratory testing services, licensing agreements, and research collaborations.

Weaknesses

• It may face supply chain and manufacturing challenges, particularly in ensuring consistent and high-quality sample processing and analysis.
• Biocept's liquid biopsy tests may not be as accurate or sensitive as other diagnostic methods, such as tissue biopsies or imaging.
• The company's technology may face competition from other liquid biopsy companies, as well as from traditional tissue biopsy and imaging methods.

Guardant Health

Market Position or History

In 2021, Guardant Health acquired Bellwether Bio, a company that uses machine learning and liquid biopsy technology to detect early-stage cancers. The acquisition will enable Guardant Health to further expand its offerings in the early detection and treatment of cancer.

Business Overview and Strategy

With is headquarters in Palo Alto, California, United States, the precision oncology company was established in 2011. It is primarily focused on developing and commercializing innovative blood-based tests for the early detection and management of cancer.

The company's vision is to transform cancer care through earlier detection and more accurate treatment. Guardant Health aims to provide patients and their physicians with the necessary tools to make informed treatment decisions and improve patient outcomes.

Strengths

• It has strong partnerships with leading pharmaceutical companies.
• The company has an experienced leadership team with a track record of success in the industry.
• It has a robust clinical data supporting the efficacy of its tests.

Weaknesses

• It has a limited reimbursement coverage for some of its diagnostic tests.
• It has potential limitations in the accuracy of its tests for certain types of cancers or mutations.
• It is highly subjected to the regulatory and compliance risks associated with diagnostic testing and medical devices.

Epic Sciences

Market Position or History

In June 2022, Epic Sciences generated a funding of USD 43 million in a Series F financing round led by Arsenal Capital Partners.

Business Overview and Strategy

With its headquarters located in San Diego, United States, the company was established in the year 2008. It predominantly develops and commercializes blood-based tests to monitor and diagnose cancer.

The company's vision is to transform cancer care through the development of accurate, non-invasive diagnostic tests that enable earlier detection, more precise treatment selection, and better patient outcomes.

Strengths

• It has a strong focus on research and development, investing heavily in cutting-edge technologies and collaborations with leading research institutions.
• The company has a talented and diverse workforce, with employees from different backgrounds and expertise.
• It has the ability to offer customized diagnostic tests for individual patients.

Weaknesses

• The complexity of its diagnostic tests may limit adoption by some healthcare providers and patients.
• It has a limited experience in commercializing its diagnostic tests at scale.
• It relies on a limited number of key customers for revenue.

Sysmex Corporation

Market Position or History

In July 2021, Sysmex announced the acquisition of a majority stake in HemoCell SAS, a French company that develops and produces innovative cell analysis systems for use in hematology and oncology.

Business Overview and Strategy

With its headquarters in Kobe, Hogyo, Japan, the company was established on February 20, 1968. It specializes in the development and manufacture of diagnostic instruments, reagents, and software for medical institutions and clinical laboratories.

Sysmex Corporation's mission is to contribute to the advancement of healthcare by developing and providing innovative diagnostic and monitoring technologies that meet the needs of healthcare professionals and patients around the world.

Strengths

• It has extensive global presence with operations in over 190 countries.
• It has shown consistent revenue growth and profitability over the years.
• It has a wide range of high-quality diagnostic products for various medical fields.

Weaknesses

• It heavily relies on the Japanese market, which accounts for a significant portion of the company's revenue.
• The company has lack of diversification in the product portfolio, which may limit potential revenue streams.
• It is highly vulnerable to supply chain disruptions and material shortages.