Pacific Edge’s global growth and positive revenue trajectory has been recognised with the cancer diagnostics company named number 5 in the TIN100 Top Ten list of Hot Emerging Companies for 2015.
Technology Investment Network produces the annual TIN100 report tracking the progress of New Zealand's technology companies and selection is based on revenue growth for FY15.
The TIN100 Top Ten Hot Emerging Companies for 2015 includes firms with revenues of $3 million to $14 million respectively.
The top companies by revenue growth were named in Auckland last week, with a number of the high growth companies named, including Pacific Edge, 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.”
“Pacific Edge has been building its knowledge of the US market over the past three years and now has an effective strategy that it is using to build awareness, trial and acceptance of its innovative bladder cancer diagnostic tests,” Shanahan says.
For Shanahan, its 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.
“Our first product, Cxbladder Detect, has been well received by urologists and we are picking up pace as we launch our second product, Cxbladder Triage, and expand our US-based specialist sales force,” adds David Darling, CEO, Pacific Edge.
“Our User Programmes continue to be a critical element in encouraging urologists to trial our products in their clinical settings prior to commercial use.
“We have a number of User Programmes currently in progress, including a large scale User Programme with Kaiser Permanente, one of the United States largest not-for-profit health insurers.
“If our product is accepted by their urologists, it will provide access to a significantly large number of test opportunities annually.
“We were pleased to see our positive progress recognised in the TIN100 list 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 as we build towards our goal of generating $100 million of gross revenue.”