VolitionRx and Gyros Protein Technologies Awarded an Aggregate $1 million+ Eurostars Cash Grant to Collaborate on Developing a Lung Cancer Blood Test

AUSTIN,Texas,Dec. 5,2019 --VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition") today announced that it was awarded $820,000 (€740,000 Euros) and Gyros Protein Technologies AB,now part of Mesa Laboratories Inc. (NASDAQ:MLAB) was awarded $230,000 (€206,000 Euros) each in the form of a non-repayable Eurostars cash grant. The grant proceeds are to be used towards the development of novel,high sensitivity assays and a validated panel ready for regulatory trials through the combination of Volition's propriety Nu.QTM platform and Gyros Protein Technologies' Gyrolab®technology. The resulting blood-based test will be used for triaging individuals testing positive in Low Dose CT lung cancer screening.

 

Marielle Herzog,Research and Development Director,Belgian Volition SPRL,said "This Eurostars funding will greatly assist with the development of our groundbreaking Nu.QTMtechnology on a new high sensitivity platform,in addition to our current ELISA plate and bead-based assays. We are very excited to yet again broaden the range of our technology platform by working with Gyros Protein Technologies,who we believe has excellent immunoassay solutionsthat should complement the work we are doing."

Ivan Kamensky,Divisional Vice President of Operations and Research and Development,Gyros Protein Technologies AB,commented "Lung cancer is the leading cause of cancer death worldwide and has the lowest five-year survival rate of any cancer,with less than half of cases detected at early,treatable stages. We believe Volition's innovative biomarker panels have the potential to greatly improve the standard of care for those at high risk of lung cancer,and we are grateful to Eurostars for funding this collaborative project."

Volition and Gyros Protein Technologies will collaborate to develop 12 novel Nucleosomic™ Gyroplex™ Research Use Only ("RUO") liquid biopsy assays,based on Volition's Nu.QTM immunoassays and Gyros Protein Technologies' Gyrolab® platform,to profile unique circulating cell-free nucleosomes. Combining the latest format of both technologies,the assays will be supported by a new ultra-sensitive Gyrolab Bioaffy CD and Nu.QTM profiles to differentiate lung cancer from benign disease. A validated triage panel will be developed in a prospectively collected cohort,with the goal to be ready for regulatory trials.

About Eurostars

Eurostars is a European joint program,co-funded from the national budgets of 36 EUREKA countries and by the European Union through Horizon 2020. Eurostars has been carefully developed to answer to the specific needs of R&D-performing small and medium-sized enterprises,and targets the development of new products and services,giving easier access to international markets,thanks to the transnational nature of each project consortium.

For more information visit its website:https://www.eurostars-eureka.eu/

About Gyros Protein Technologies AB

Gyros Protein Technologies AB enables peptide synthesis and bioanalytical solutions that help scientists increase biomolecule performance and productivity in research,drug discovery,pre-clinical and clinical development,and bioprocess applications. The low to mid-scale peptide synthesizer platforms are the new PurePepTM Chorus,Tribute®,Prelude® X,Symphony® X,and Sonata®. These solutions and Gyros Protein Technologies' chemistries deliver uncompromising purity,flexibility,and quality for discovery and pre-clinical studies of simple to complex multifunctional peptides. Proprietary high performance nanoliter-scale immunoassay platforms,Gyrolab® xPand,Gyrolab xP workstation and Gyrolab xPlore™,are used by scientists in leading pharmaceutical,biotech,CRO,and CMO companies for bioanalytical applications such as pharmacokinetics/pharmacodynamics,immunogenicity,and quantitating bioprocess-related impurities. Gyros Protein Technologies' peptide synthesis and bioanalytical solutions accelerate discovery,development,and manufacturing of safer and more efficacious biotherapeutics. Gyros Protein Technologies is a division of Mesa Laboratories Inc.

For more information about Gyros Protein Technologies visit its website: https://www.gyrosproteintechnologies.com/

About Volition

Volition is a multi-national life sciences company developing simple,easy to use,cost effective blood tests to help diagnose a range of cancers and other diseases. Early diagnosis has the potential to not only prolong the life of patients,but also to improve their quality of life. The tests are based on the science of NucleosomicsTM,which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid - an indication that disease is present. Volition is primarily focused on human diagnostics but also has a subsidiary focused on animal diagnostics.

Volition's research and development activities are centered in Belgium,with additional offices in Texas,London and Singapore,as the company focuses on bringing its diagnostic products to market.

For more information about Volition,visit Volition's website (http://www.volitionrx.com) or connect with us via:

Twitter: https://twitter.com/volitionrx

LinkedIn: https://www.linkedin.com/company/volitionrx

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YouTube: https://www.youtube.com/user/VolitionRx

The contents found at Volition's website address,Twitter,LinkedIn,Facebook,and YouTube are not incorporated by reference into this document and should not be considered part of this document.The addresses for Volition's website,and YouTube are included in this document as inactive textual references only.

Media / Investor Contacts

Louise Batchelor,Volition

mediarelations@volitionrx.com

+44 (0)7557 774620

Scott Powell,Volition

investorrelations@volitionrx.com

+1 (646) 650 1351

Joseph Green,Edison Advisors

jgreen@edisongroup.com

+1 (646) 653 7030

Safe Harbor Statement

Statements in this press release may be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange Act of 1934,that concern matters that involve risks and uncertainties that could cause actual results to differ materially from those anticipated or projected in the forward-looking statements. Words such as "expects," "anticipates," "intends," "plans," "aims," "targets," "believes," "seeks," "estimates," "optimizing," "potential," "goal," "suggests," "could," "would," "should," "may," "will" and similar expressions identify forward-looking statements. These forward-looking statements relate to the success of the collaboration with Gyros Protein Technologies AB,the effectiveness of Volition's blood-based diagnostic tests as well as Volition's ability to develop and successfully commercialize such test platforms for early detection of cancer and other diseases. Volition's actual results may differ materially from those indicated in these forward-looking statements due to numerous risks and uncertainties. For instance,if Volition fails to develop and commercialize diagnostic products,it may be unable to execute its plan of operations. Other risks and uncertainties include Volition's failure to obtain necessary regulatory clearances or approvals to distribute and market future products in the clinical IVD market; a failure by the marketplace to accept the products in Volition's development pipeline or any other diagnostic products Volition might develop; Volition will face fierce competition and Volition's intended products may become obsolete due to the highly competitive nature of the diagnostics market and its rapid technological change; and other risks identified in Volition's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q,as well as other documents that Volition files with the Securities and Exchange Commission. These statements are based on current expectations,estimates and projections about Volition's business based,in part,on assumptions made by management. These statements are not guarantees of future performance and involve risks,uncertainties and assumptions that are difficult to predict. Forward-looking statements are made as of the date of this release,and,except as required by law,Volition does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

NucleosomicsTM and Nu.QTM and their respective logos are trademarks and/or service marks of VolitionRx Limited and its subsidiaries. All other trademarks,service marks and trade names referred to in this press release are the property of their respective owners. Additionally,unless otherwise specified,all references to "$" refer to the legal currency of the United States of America.

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