Zomedica Expands TRUFORMA Addressable Market with Launch of Equine Cortisol Assay for the Platform
First-of-its-kind stall-side testing to enable rapid, life-saving decisions for equine veterinarians
ANN ARBOR, MI / ACCESSWIRE / June 27, 2024 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or the “Company”), a veterinary health company offering diagnostic and therapeutic products for equine and companion animals, today announced the commercial launch of its second equine focused assay – Cortisol for equine serum – for the point-of-care TRUFORMA® diagnostic platform.
“Cortisol measurement is crucial for assessing the health of sick foals and has never been available at the point of care until now,” stated Dr. T.J. Barclay, a Professional Services Veterinarian for Zomedica. “Traditionally, equine veterinarians have had to send samples to reference labs and potentially wait several days for results – often receiving them too late to make critical treatment decisions. Our new assay will bring a valuable diagnostic tool for equine veterinarians to use in-clinic and stall-side, empowering them to make real-time, potentially life-saving treatment decisions.”
The first days of a foal’s life can be the most challenging, as illness during this time can cause a foal’s health and survival chances to change rapidly. Equine veterinarians, especially those involved with reproduction, require the best diagnostic tools available at the point of care to assess and properly manage foal health. Being able to measure cortisol in foals in minutes, as opposed to days, could allow these veterinarians to make life saving decisions in situations where time and accuracy matter greatly. The TRUFORMA device, known for its compact, easy-to-use, and durable design, is perfectly suited for the unique challenges faced by equine practitioners.
“The ability to obtain stall-side cortisol measurements in horses, particularly in sick newborn foals, will be a game-changer for equine vets,” stated Kelsey Hart, DVM, PhD, DACVIM (LAIM). “This information will allow us to make a diagnosis of CIRCI (critical illness-related cortisol insufficiency) in real-time and start hydrocortisone replacement therapy as quickly as possible in sick horses and foals.”
“Following the successful launch of our first equine assay, endogenous ACTH, late last year, we are excited to introduce the equine Cortisol assay for our TRUFORMA platform,” stated Larry Heaton, Zomedica’s Chief Executive Officer. “The positive feedback from veterinarians on the first equine assay has been encouraging, and we are excited to provide another powerful tool that enhances point-of-care diagnostics. With several hundred thousand foals born each year in the United States alone, this assay will not only be a benefit to veterinarians and the foals they care for but will also expand the market for the TRUFORMA system amongst equine veterinarians.”
The TRUFORMA platform addresses a $1.5 billion annual recurring revenue opportunity in the US, and with CE marking secured in June, is now positioned to expand into the European veterinary diagnostics market, which is forecast to surpass $3.6 billion by 2028.
The TRUFORMA Cortisol assay for equine serum will be available for veterinarians to order directly from Zomedica in July. To learn more about the TRUFORMA diagnostic platform and its innovative use of BAW technologies, please visit Zomedica’s website at zomedica.com/truforma.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American:ZOM) is a veterinary health company creating products for horses, dogs, and cats by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio includes innovative diagnostics and medical devices that emphasize patient health and practice health. Zomedica’s mission is to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.zomedica.com.
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SOURCE: Zomedica Corp.
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View the original press release on accesswire.com
