VolitionRx Limited (NYSE American: VNRX) has announced a collaboration with Sysmex Corporation (TYO: 6869) to optimize Volition's Nu.Q NETs H3.1 assay on the Sysmex diagnostic platform, according to a press release from the Henderson, Nevada-based company.

The agreement follows what Volition describes as a successful transfer of the Nu.Q NETs assay onto Sysmex's platform. The collaboration will now move into an optimization phase focused on diseases associated with NETosis, a process implicated in conditions including sepsis and other acute and chronic diseases.

Sysmex, headquartered in Kobe, Japan, operates in the field of in vitro diagnostics across more than 190 countries. Volition's Chief Commercial Officer Gael Forterre said the partnership aligns with the company's strategy to out-license its proprietary tests to large companies with global reach.

"Sysmex is a global leader in the field of in vitro diagnostics for hemostasis and thrombosis, among other diseases, where Neutrophil Extracellular Traps play such an important role," Forterre said.

Volition cited an internal model estimating the total addressable market for the Nu.Q NETs assay at $3.8 billion, though this figure is based on data on file from Volition's own TAM model.

Volition conducts its research and development activities primarily in Belgium, with additional offices in the U.S. and London.