BCAL Diagnostics rejects merger speculation

ASX-listed BCAL Diagnostics has moved to quash speculation of a potential three-way merger involving Genetic Signatures and Microba Life Sciences, saying it has neither advanced nor received any proposal for such a transaction.

BCAL is a healthcare company developing breakthrough blood-based technology for early cancer detection, targeting significant unmet needs in breast, pancreatic and ovarian cancers. Its product portfolio includes BREASTEST plus, Avantect Pancreatic and Avantect Ovarian.

The company has secured pathology access through Sonic Healthcare and Healius, while its Avantect Pancreatic program has progressed to an initial Medical Services Advisory Committee (MSAC) application. Further clinical evidence is also being developed in collaboration with ClearNote Health.

The company has also established EarlyDetection.com.au, a digital risk-assessment and telehealth platform designed to facilitate GP referrals and pathology collection, supporting a broader pathway for patients seeking early cancer detection.

BCAL currently holds a relevant interest of approximately 18.5% in Genetic Signatures, giving it a significant strategic position in the molecular diagnostics company. It remains focused on exploring potential technology synergies and collaboration opportunities with Genetic Signatures, with the objective of strengthening its technology platform.

The company has also initiated a request for Genetic Signatures to convene a general meeting under section 249D of the Corporations Act 2001 (Cth). The proposed meeting is expected to consider resolutions relating to the composition of Genetic Signatures’ board, including the appointment of two directors and the removal of one existing director.

Despite rejecting the current merger speculation, BCAL said it continues to assess strategic opportunities capable of enhancing shareholder value.

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