Rhythm Biosciences Ltd (ASX: RHY) is a Melbourne-based medical diagnostics company focused on early cancer detection through affordable blood tests. The company’s flagship products, geneType™ and ColoSTAT®, offer innovative solutions in genetic risk assessment and colorectal cancer detection. Following the recent acquisition of Genetype in December 2024, Rhythm has now reported its first commercial sales under its leadership.
Rhythm Biosciences Expands Commercial Sales and Market Reach for geneType™
The announcement marks a significant step forward for Rhythm Biosciences, as the company successfully generated its own commercial sales of the geneType™ product portfolio.
Previously, sales were based on existing patient cases carried over during the acquisition, but new sales now indicate successful market penetration under Rhythm’s management.
The company remains optimistic about the growth potential of geneType™, with a strategic focus on expanding business-to-business (B2B) sales. This will be supported by an experienced team, influential Key Opinion Leaders (KOLs), and a strong foundation of peer-reviewed clinical evidence. Additionally, Rhythm is working on enhancing its product roadmap to attract more enterprise customers and broaden its market reach.
Beyond sales growth, Rhythm is positioning itself for long-term expansion into new geographic regions. The company expects an upward trajectory in revenue as it taps into international markets, leveraging its advanced genetic testing platform to meet increasing demand in preventative healthcare and precision medicine.
Rhythm Biosciences Advances Commercial Growth and Prepares for ColoSTAT® Launch
CEO Dr. David Atkins expressed confidence in the company’s future revenue prospects, highlighting that while the current sales are not yet material in financial terms, they serve as an important milestone for commercial traction. He also emphasised that revenue streams will strengthen further in the next financial year with the commercialisation of ColoSTAT®, a blood-based colorectal cancer detection test.
Rhythm’s latest progress underscores its commitment to improving early disease detection and prevention through cutting-edge diagnostics, setting the stage for continued market growth.
