VolitionRx Limited, a multi-national life sciences company, announced the creation of a wholly-owned US subsidiary, Volition America, Inc., which will be based in Austin, Texas. Dr. Jason Terrell, chief medical officer of Volition, has been appointed as president and chief executive officer of Volition America. Scott Powell, executive vice president of Volition, will serve as vice president and chief financial officer of Volition America.
Dr. Terrell will lead the commercialization efforts of the Nu.Q cancer tests in the United States, focused on implementing 510(k) and PMA trials for colorectal cancer.
Speaking about the announcement, Cameron Reynolds, Volition's chief executive officer said: "Having achieved significant milestones in our European commercialization strategy, we are now focusing our attention to include the US market. Colorectal cancer is the second leading cause of cancer-related death in the United States."
The Wallonia region of Belgium, where Volition's R&D activities are based, has strong economic links with Texas. At the end of 2016, the Texas Economic Development Corporation signed a Memorandum of Understanding with the Wallonia Foreign Trade & Investment Agency. This agreement supports organizations wishing to relocate or expand in Belgium or Texas through integration into local networks and industry clusters as well as access to business incubators and university resources.
Dr. Terrell commented: "The fact that Texas is one of the leading life science states was a key driver in our decision to make this the home of Volition America, Inc. Texas has the second largest workforce in the nation and is home to one of the largest concentrations of life science professionals. In addition, the economic ties with Belgium make the state even more attractive and we have been working closely with Texas economic development and grant programs to try and maximize the potential return on our investment."
Volition is a multi-national life sciences company developing simple, easy to use blood-based cancer tests to accurately diagnose a range of cancers.