Under the terms of the three-year agreement, Teva Pharmaceuticals will be the exclusive distributor of the SelectMDx for Prostate Cancer test in Israel. Samples will be sent to MDxHealth's state-of-the-art clinical diagnostic laboratory in Nijmegen, The Netherlands for analysis. Teva will reimburse MDxHealth for all the testing services.
Dr. Jan Groen, Chief Executive Officer of MDxHealth, stated: "We are pleased to expand our longstanding partnership with Teva and allow patients in Israel to access SelectMDx, a test which is ideally suited to address an unmet need in urology. SelectMDx provides a non-invasive,'liquid biopsy' test which improves patient selection for prostate biopsy."
Sapir Avinoam, VP and General Manager of Teva Israel, added: "The SelectMDx test opens up the opportunity to address a broader segment of patients at risk for prostate cancer and being considered for an invasive biopsy procedure. The test further complements our portfolio of molecular tests and services, allowing us to better serve our physician base and improve patient outcomes."
About SelectMDx for Prostate Cancer
Of the nearly 2 million prostate biopsies performed each year, less than a third find cancer. Most of these men could have avoided a painful and invasive prostate biopsy procedure, with its associated complications and costs. SelectMDx for Prostate Cancer is a proprietary urine-based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harbouring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test delivers a negative predictive value (NPV) of 98% for clinically significant disease, helping to reduce unnecessary MRI procedures and invasive prostate biopsies by approximately 50%, thereby reducing healthcare costs.
MDxHealth (mdxhealth.com) is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary gene methylation (epigenetic) and other molecular technologies and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy.
About Teva Pharmaceuticals
Teva Pharmaceutical Industries Ltd (tevapharm.com) is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions used by millions of patients every day. Headquartered in Israel, Teva is the world's largest generic medicines producer, leveraging its portfolio of more than 1,000 molecules to produce a wide range of generic products in nearly every therapeutic area. In specialty medicines, Teva has a world-leading position in innovative treatments for disorders of the central nervous system, including pain, as well as a strong portfolio of respiratory products. Teva integrates its generics and specialty capabilities in its global research and development division to create new ways of addressing unmet patient needs by combining drug development capabilities with devices, services and technologies. Teva's net revenues in 2015 amounted to $19.7 billion.
Contact: Jonathan Birt, Chris Welsh, Hendrik Thys (PR & IR) - Consilium Strategic Communications
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