Dunedin based company Pacific Edge Biotechnology has been awarded a New Zealand patent for its colorectal cancer prognostic technology.

The technology enables the detection of aggressive cancer in patients already diagnosed with colorectal cancer.

The colorectal cancer prognostic gene signature is the company's second commercial product, joining its recently launched bladder detection test, Cxbladder.

Following the announcement Pacific Edge shares rose 1c, to 24c.