Odyssey Health Expands Horizons in Breast Medical Technology
Odyssey Health's Innovative Entry into Breast Cancer Diagnostics
Odyssey Health, Inc. (OTCQB: ODYY), a cutting-edge medical device company, has made a significant leap by signing a sub-licensing agreement for exclusive worldwide rights to the BreastCheck, a revolutionary non-invasive test designed to detect breast abnormalities. This agreement is a strategic move, managed through its subsidiary Odyssey Medical Devices, Inc., and is currently subject to certain closing conditions.
Introducing BreastCheck: A New Era in Screening
The BreastCheck test is designed for ease of use, allowing individuals to conduct screenings at home in just 15 minutes. With immediate results, the device has proven to be a reliable first line of identification for potential breast issues. Although it does not replace mammograms, BreastCheck serves as an effective initial screening tool. The technology driving BreastCheck is registered with the FDA in the United States, and it also complies with regulations set by authorities in the European Union and the United Kingdom.
Significance of Early Detection
“This is a major milestone in our medical device portfolio,” says Michael Redmond, CEO of Odyssey. With breast cancer survival rates steadily improving through early detection, it is significant to note the rapid rise in the number of diagnoses. For instance, this year, statistics suggest that about 317,000 new cases of invasive breast cancer will be diagnosed in women across the U.S. Awareness is crucial, as statistics indicate that 1 in 8 women in the U.S. will face a breast cancer diagnosis during their lifetime.
The breast cancer diagnostics market is experiencing incredible growth, currently valued in the low tens of billions of dollars. Forecasts indicate this market could double or even more over the next 8 to 10 years, fueled by advancements in technology including imaging, artificial intelligence, genomics, and increased accessibility to healthcare, particularly in emerging markets.
Commercialization and Future Revenue
Odyssey Health anticipates the commercialization of BreastCheck to commence soon, marking a significant transition from a development-centric company to one generating revenue in the medtech sector. This transition is crucial as it reflects Odyssey’s commitment to offer impactful healthcare solutions.
About BreastCheck: A Comprehensive Monitoring Solution
BreastCheck, a creation of Davion Healthcare PLC, is built to provide a safe, accurate, and cost-effective method for routinely monitoring breast health. It complements established procedures such as clinical breast examinations and mammograms. The device measures heat differences in the breast, averaging temperatures in three designated areas. By comparing temperatures and submitting results via the BreastCheck Mobile App, users can receive immediate interpretations.
Understanding Breast Cancer
Globally, breast cancer stands as the most prevalent cancer among women. It arises when abnormal cells in the breast grow uncontrollably, leading to tumors that may spread throughout the body. Current estimates from the American Cancer Society predict around 316,950 invasive and 59,080 non-invasive breast cancer cases in 2025 alone in the United States. Breast cancer accounts for nearly 30% of all new cancers among women. The World Health Organization also reported that in 2022, approximately 2.3 million women worldwide were newly diagnosed with breast cancer, with around 670,000 fatalities from the disease. If current trends continue, projections suggest that by 2050, new breast cancer cases could soar to 3.2 million globally each year.
About Odyssey Health, Inc.
Odyssey Health, Inc. (OTCQB: ODYY) focuses on pioneering life-saving medical technologies. The company aims to create, acquire, and accumulate distinct assets and intellectual properties that drive innovative medical solutions. Odyssey places a strong emphasis on acquiring advancements that display significant clinical utility and offer a substantial market opportunity. Odyssey Medical Devices, Inc. serves as a wholly owned subsidiary of Odyssey Health Inc.
Frequently Asked Questions
What is the purpose of BreastCheck?
BreastCheck is designed as a non-invasive test for early detection of breast abnormalities, providing quick results for home use.
How does BreastCheck work?
The device measures temperature differences in the breast, offering an interpretation of potential abnormalities through a mobile app.
Why is early detection important in breast cancer?
Early detection significantly improves survival rates, allowing for timely and effective medical intervention.
What are the future plans for Odyssey Health?
Odyssey Health plans to commercialize BreastCheck and transition from development to revenue generation in the medical technology field.
What is the broader impact of BreastCheck on the market?
BreastCheck is part of the rapidly evolving breast cancer diagnostics market, which is expected to grow significantly through technological advancements and increased awareness.
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