• MDxHealth announces worldwide licencing agreement with Philips for prognostic prostate cancer biomarker;
• Agreement with Philips facilitates the launch of InformMDx™.
MDxHealth SA ("MDxHealth, or the "Company"), today announces a worldwide licencing agreement with Koninklijke Philips N.V. ("Philips") (philips.com) for the rights to manufacture and market Philips' recently validated prognostic biomarker for prostate cancer, phosphodiesterase-4D7 ("PDE4D7"), as a prognostic test. The test is based on technology which was jointly developed by Philips Research and The University of Glasgow.
The agreement enables MDxHealth to prepare the launch of its InformMDx™ test for prostate cancer, a tissue-based test utilising PDE4D7 that can stratify patients according to their risk of disease progression and the development of secondary tumors. The Company anticipates that InformMDx will provide actionable information to help clinicians guide post-biopsy treatment decisions at the time of diagnosis, as well as post-surgical treatment decisions following prostatectomy. In the US alone, over 150,000 patients per year could benefit from the InformMDx test.
PDE4D7 has recently been validated in a 503 patient study published in the journal European Urology Focus which confirmed, based on 10-15 years of follow-up data, the independent prognostic and incremental value of PDE4D7 compared to the established clinical risk metric (eu-focus.europeanurology.com)
The financial terms of the agreement have not been disclosed.
Dr. Jan Groen, Chief Executive Officer of MDxHealth, commented: "This is an exciting deal which moves us a step closer towards launching InformMDx, our fourth commercial test which we believe will be valuable in providing physicians with critical information required to make informed therapeutic decisions for men recently diagnosed with Prostate Cancer. In line with our growth strategy, MDxHealth will continue to expand the range and reach of our diagnostic offering as the demand for actionable and cost-effective diagnosis and patient-monitoring grows across healthcare systems globally."
MDxHealth (mdxhealth.com) is a multinational healthcare company, listed at the Brussels, Belgium, stock exchange (Euronext Brussels: MDXH.BR), that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy.
The Company's European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California.
Consilium Strategic Communications (IR & PR)
Amber Fennell, Chris Welsh & Hendrik Thys
P: +44(0)20 3709 5701 - E: mdxhealth[.]consilium-comms.com.
Leon Melens - LifeSpring Life Sciences Communication
P: +31 6 538 16 427 - E: lmelens[.]lifespring.nl.
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.
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