BCAL Diagnostics Limited Expands Early Cancer Detection with National Avantect Rollout - Research To Commercial Early Cancer Diagnostics - SamsoDYOR.
- Noel Ong
- 5 days ago
- 7 min read
Announcement
Pancreatic and Ovarian Cancer Early Detection Blood Testing – 9 December 2025 (view the announcement)
BCAL AGM Presentation – 28 November 2025 (view the announcement)
Here is another one of those non-mineral resource stories that compelled me to have it on Samso News. As more readers will know, the Samso News platform was only created in May 2025, and the transition for Samso into non-mining stories has brought a greater appreciation of ASX stories such as BCAL.
Like all new stories for Samso, there is always deep research, and for BCAL Diagnostics Limited (ASX: BDX), that will come with more content being generated in the future. As for our introduction, the two announcements listed above have given us a real insight into what the potential of success will do for a company like BDX.
One of the most compelling learnings for Samso since venturing outside of our mineral resource sector, is that fact that stories like BDX are revenue-generating and if the product works and catches on, there is no limit to the number of customers. It's like the saying about the funeral business. Nobody negotiates, and it's a valid business for prepaying your own funeral. This works in the way of the medical sector. Let's face it, who negotiates a "better price" to get better if you are sick, and who would not guarantee a payment for a surgery to save your life?
BCAL Diagnostics Limited (ASX: BDX) is transitioning from a long-standing research-led organisation into a commercial early cancer diagnostics company, with laboratory operations based in Sydney and expanding national reach across Australia. The Company’s FY25 Annual General Meeting and its 9 December 2025 ASX announcement collectively outline a business now focused on scaling commercial adoption following the launch of its first diagnostic product and the upcoming national rollout of additional early-detection tests.
The Business of BCAL Diagnostics: Early Cancer Detection
Australian healthcare company focused on the development, validation, and commercialisation of blood-based diagnostic tests for early cancer detection.
Core technology built on in-house lipidomic science, supported by more than 15 years of research and clinical validation.
Flagship commercial product BREASTESTplus™, a rule-out blood test designed to be used alongside mammography for women with dense breasts (Figure 1).
Figure 1: Digital Patient Education Supporting Clinical Engagement (source: BDX)
Commercial launch of BREASTESTplus™ in Sydney in March 2025, supported by NATA accreditation and ISO15189 laboratory standards.
Ownership of a substantial biobank of ~45,000 aliquots, collected under rigorous ethical and clinical protocols, underpins current and future product development.
Strategic partnership with ClearNote Health to expand the portfolio into ovarian, pancreatic, and future multi-cancer early detection tests (Figure 2).
Figure 2: ClearNote Health Partnership Broadening BCAL’s Diagnostic Offering (source: BDX)
Exclusive rights to distribute Avantect® ovarian and pancreatic cancer tests in Australia and New Zealand (Figure 3).
Figure 3: Avantect Tests Address High-Risk Patient Populations (source: BDX)
Business strategy focused on scaling clinician adoption, expanding national access, and building diversified revenue streams across multiple cancer indications.
Highlights – National Expansion of Early Cancer Detection (9 December 2025)
BCAL announced that Avantect® pancreatic and ovarian cancer early-detection blood tests (Figure 4) will be available to Australian clinicians and patients from 19 January 2026, marking a significant expansion of the Company’s commercial offering beyond breast cancer diagnostics.
Figure 4: Avantect Multi-Cancer Program Advancing Through Clinical Validation (source: BDX)
Nationwide access will be facilitated through Sonic Healthcare’s Australian pathology network, enabling broad geographic reach while leveraging BCAL’s North Ryde laboratory and ClearNote Health’s CLIA-certified facility in San Diego.
The Avantect tests are based on epigenomic and genomic analysis of circulating DNA, supported by artificial intelligence and machine learning algorithms, and have demonstrated strong predictive value in early-stage cancers where traditional protein-based tests often fail (Figure 5).
Figure 5: Comparative Performance Against Existing Screening Programs (source: BDX)
Patient consultations for Avantect testing will commence at the Sydney Breast Clinic from 19 January 2026, providing an immediate clinical entry point for adoption and physician engagement.
Leadership Commentary
BCAL CEO, Shane Ryan, commented:
“For the first time, Australians will be able to access vital early-detection blood tests across the country. Pancreatic and ovarian cancers are considered ‘silent killers’ because they are often detected too late. Through early detection, physicians have a wider array of treatment options that can lead to profound increases in survival rates, so we are proud to have brought Avantect to the Australian market so quickly.”
About the Project
BCAL’s current commercial focus centres on BREASTESTplus™, a rule-out blood test designed to be used alongside mammography for women with dense breasts. The test was commercially launched in Sydney in March 2025 and is supported by NATA accreditation and ISO15189 laboratory standards.
The Company’s partnership with ClearNote Health (Figure 6) expands BCAL’s portfolio to include Avantect pancreatic and ovarian tests, with exclusive distribution rights in Australia and New Zealand. These tests are already in clinical use internationally, with regulatory approvals in the US and UK and reimbursement arrangements in place in the United States.
Figure 6: ClearNote Health (source: BDX)
Near-term Milestones to Watch
(Figure 7)
Commencement of Avantect ovarian and pancreatic patient testing from January 2026.
Expansion of BREASTESTplus™ into Melbourne and Brisbane, with a planned regional rollout.
Integration of BREASTESTplus™ into Best Practice GP management software nationally.
Commercial launch of BREASTESTplus™ V2.
Targeting minimum BREASTESTplus™ sales volumes of 150 tests per month by Q4.
Achieving full-year Avantect test revenue of $300,000
Figure 7: 2026 delivery roadmap (source: BDX)
Samso Concluding Comments
As I read it, the BDX is now just starting to roll out its core business as we speak, and if you look at the share price (Figure 8), the timing for an entry to position an investment looks good. With a market capitalisation of AUD $36.8M (as of 9th January 2025), it feels that there is more upside in the coming future.
Figure 8: The share price chart for BDX as of 9th January 2025. (source: CommSec)
As this is our first read of the BDX business, what I gather from face value is that it is a company that has been in research for a long time, and the business is now being rolled out. If I take that as gospel, this is not a bad business if you think about how they have researched the business and are beginning the revenue stream. Not a bad time to get on board, as the risk is now more about revenue rather than a test of the concept.
The business of BCAL Diagnostics with the Early Cancer Detection narrative will stir interest, and as cancer treatment is by far the most easily understood by the general investing community, traction will happen when results are released. This is the reason I would put this as a SamsoDYOR tick of approval for readers to do some homework on the company.
Let's see how this goes for the short to medium term and follow this journey. I think the volatility of the last two years is a good sign that there is indeed interest in the stock. Any entry into the stock from here will be a good range that has lasted for nearly 2.5 years.
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