20/20 GeneSystems was founded to develop and promote an innovative proteomics product line that provides drug companies, biodefense specialists and life scientists with new tools for protein analysis. The company’s first product, and the focus of the company’s work through MIPS, called BioCheck®, is the “gold standard” test for the screening of unknown suspicious powders by emergency personnel and first responders. Since developing BioCheck, the company has expanded its scope to developing and commercializing innovative, proprietary diagnostic tests that aid in the fight against cancer. These tests generally fall into three categories: personalized medicine, early detection of lung cancer, and biological detection.
BioCheck® generates revenues of about $500,000 per year with gross profit margins of about 80 percent. 20/20 has raised more than $15 million in total equity and grant funding and has launched two successful products, BioCheck® and a blood test for the early detection of lung cancer.
Dr. Hansen and MIPS were essential to the success of this product, which has become an international gold standard for suspicious powder screening. Over the past seven years, thousands of government and commercial places of business have been able to safely and promptly resume operations following suspicious powder incidents through the use of this product by first responders. BioCheck® has likely saved hundreds of millions of dollars in economic waste while creating many new jobs in Maryland.
