Rhythm Biosciences (ASX: RHY) has signed a significant non-exclusive distribution agreement with 4Cyte Pathology for its ColoSTAT test.
This deal, involving over 1,000 collection centres across NSW, VIC, and QLD, expands the company's commercial reach with a capital-efficient, per-test revenue model.
Under the terms, patient samples will be transported to Rhythm's Parkville lab for testing.
The agreement operates on a per-test revenue basis, with no upfront payments or minimum commitments from 4Cyte Pathology.
The initial term of the agreement is three years, with a mutual option to extend for an additional two years.
Capital-Efficient Commercialisation Model
This distribution model is designed for capital efficiency. By operating on a per-test revenue basis, Rhythm avoids significant upfront capital expenditure.
The absence of minimum commitments from 4Cyte Pathology further reduces immediate financial obligations for Rhythm.
The company will leverage 4Cyte's established phlebotomy network, optimising sample collection and logistics across a wide geographical area.
ColoSTAT Rollout Progress
This agreement with 4Cyte Pathology builds upon Rhythm's recent commercialisation milestones for ColoSTAT.
In February 2026, the company initiated its ColoSTAT Access Program, enrolling the first physician for commercial deployment.
Also in February 2026, Rhythm secured a multi-year manufacturing agreement with Quansys Biosciences.
This deal ensures scalable, ISO13485-certified production of ColoSTAT reagent kits.
Further reinforcing its operational readiness, Rhythm's Melbourne laboratory received updated ISO15189:2022 accreditation for ColoSTAT services in December 2025.
Annual Report Highlights Funding and Strategy
Rhythm's FY2025 annual report, released in September 2025, outlined a strategic shift towards revenue generation.
The report detailed progress on ColoSTAT development and commercialisation efforts.
Multiple funding rounds secured in 2024 and 2025 were highlighted as having extended the company's financial runway into 2026.
The report also noted the progression of ColoSTAT Gen2 multiplex development, with a commercial launch targeted for late FY26.
Rhythm's Commercial Path
The distribution agreement with 4Cyte Pathology represents a significant step in Rhythm Biosciences' strategy to scale ColoSTAT's market reach through capital-efficient partnerships.
While the per-test revenue model avoids upfront costs, success hinges on execution, practitioner adoption, and generating sufficient testing volumes to offset ongoing operational expenses.
