Biodesix Receives 2011 North American Cancer Diagnostics Product Differentiation Excellence Award
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Frost & Sullivan’s market research and analysis identified a critical need in lung cancer patient management for additional diagnostic information that enables better treatment decisions, particularly after initial therapy has failed. Frost & Sullivan analysts conclude that VeriStrat addresses this market need and state that “Biodesix’ VeriStrat test is changing the approach to the current paradigm of mutation-driven cancer diagnostics and measures instead an integrated effect of the host/tumor with respect to different drugs and drug combinations.” In the Best Practices report, analyst Winny Tan further notes that “Biodesix raises the bar in personalized medicine diagnostics by investing significantly in validation, clinical research and basic R&D. The company is a best-in-practice diagnostic test developer for an industry that lacks clinically validated biomarkers through a commitment to improving patient outcomes.”
“We are honored to receive this award from Frost & Sullivan,” commented David Brunel, Biodesix’ Chief Executive Officer. “We are proud that our hard work to bring products for personalized medicine to physicians and patients has been recognized.”
In evaluating companies for the award, Frost & Sullivan considered key industry challenges that should be addressed by a differentiated diagnostic test, and benchmarked Biodesix’ performance against competitors across five key metrics: Unique Features/Functionality; Quality/Complexity; Customization; Match to Target Market Needs; and Brand Perception of the Uniqueness of the Product. Biodesix was selected as the leader in the cancer diagnostics category after garnering top marks in the Frost & Sullivan customized Decision Support Matrix, an analytical tool that compares companies’ performance relative to each other with an integration of quantitative and qualitative.
