VolitionRx Limited (NYSE AMERICAN: VNRX) announced results from a blinded validation study showing its Capture-Seq technology detected 95% of stage I and II cancers with 95% specificity.

The study included 81 subjects comprising 59 colorectal and lung cancer patients and 22 healthy controls. The technology achieved a 94% detection rate for stage I cancers and 96% for stage II cancers. Overall sensitivity across all cancer stages reached 93%.

Capture-Seq is a liquid biopsy method that enriches plasma samples to produce what the company describes as virtually pure circulating tumor DNA samples for analysis. The technology addresses the challenge that most circulating DNA in blood plasma comes from healthy cells rather than cancer cells.

The Henderson, Nevada-based epigenetics company reported detection rates of 100% for stage III cancers and 91% for stage IV cancers in the validation cohort.

"Volition is, I believe, the first liquid biopsy company to focus on circulating cell free nucleoproteins and we have filed a number of new patents to protect this technology," said Dr. Jake Micallef, Chief Scientific Officer.

The company estimates a total addressable market of approximately $23 billion annually for multi-cancer early detection use and over $13 billion for minimal residual disease detection.

Volition stated it is in discussions with several liquid biopsy and diagnostic companies regarding potential licensing agreements for the technology. The company develops blood tests for cancer detection and monitoring through its subsidiaries, with research operations in Belgium and offices in the United States and London.