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VolitionRX Limited Issues Update Letter to Shareholders
Date:10/31/2011

the detection of nucleosomes containing specific histone variants (which identify the type of cancer present) have shown 85% accuracy identifying cancer, in a small number of blood samples from both healthy and cancer patients. The early results are extremely encouraging, and the next step is to test the NuQ suite of products on hundreds and then thousands of samples through the end of this year and next. We have also been very successful in identifying and procuring a range of antibodies that are key to our NuQ test and have several under development to be ready in Q1 next year.

Over the next few months we will beta-test our first NuQ products with several selected external independent laboratories who have agreed to test our kits to provide feedback on their efficacy and usability. Following on from the beta-testing period we will begin to offer the kits for sale to research institutions. In early 2012 we will anticipate being able to commence full clinical trials for CE Marking (European regulatory approval), and are currently finalizing members of our Clinical Trials Management Committee, which we intend to announce this year, which will drive Volition's Clinical Trials strategy. We are also in discussions with a couple of major Companies with a view to getting a comprehensive marketing agreement by Q3 of next year.

Additionally, we are focusing on the marketing of our first Nucleosomics™ research products, which are expected to be available to the market by Q1 2012. We anticipate applying for CE Marking in 2012 and then for FDA approval by the end of 2013. We believe that the in vitro nature of our products will allow quicker regulatory approval than the vast majority of therapeutics.

In closing, the past year has been an extremely exciting time for Volition, culminating in our being quoted this month on the OTC Bulletin Board in the United States of America. We look forward to the next 12 months, which we believe will be equally ex
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