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NEWS RELEASE / REGULATED INFORMATION / INSIDE INFORMATION
IRVINE, CA, and HERSTAL, BELGIUM - March 21, 2017 - MDxHealth SA (Euronext: MDXH.BR), today announced that it has signed a distribution agreement to make its SelectMDx(TM) for Prostate Cancer test available to Lab21 Clinical Laboratory's urology clients in the United Kingdom.
Under the terms of the agreement, Lab21 will serve as a non-exclusive distributor for SelectMDx in the United Kingdom. Liquid biopsy samples will be tested in MDxHealth's state-of-the-art clinical diagnostic laboratory in Nijmegen, The Netherlands. Lab21 will reimburse MDxHealth for all testing services performed.
"In the UK, about 40,000 men a year undergo an unnecessary prostate biopsy and risk its associated complications," said Dr. Jan Groen CEO of MDxHealth. "Lab21 is the ideal partner to bring SelectMDx to UK physicians and patients for the first time, helping to improve both the quality of care and outcomes for those suspected of harboring prostate cancer."
"We are delighted to announce our first distribution agreement with MDxHealth," said Graham Mullis, CEO of Lab21. "We expect the combination of Lab21's distribution network and MDxHealth's non-invasive diagnostic test to significantly improve the quality of prostate cancer diagnosis in the UK."
About SelectMDx for Prostate Cancer
Of the more than 2 million prostate biopsies performed each year in the US and Europe, 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 harboring 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.
Lab21 Clinical Laboratory is part of the Novacyt Group of Companies and supports healthcare providers and the pharmaceutical and biotechnology industries with technically advanced testing services from its accredited facilities in Cambridge, UK. The Lab 21 team's experience and know-how is coupled with a rapidly growing portfolio of molecular and viral diagnostics, plus next generation sequencing, pharmacogenetic and patient profiling tests, which all use cutting-edge technology. This unique combination adds value to pharmaceutical, diagnostic and biotech partners - and directly to clinicians or healthcare providers as they treat and monitor their patients. More information about Lab21 is available at http://lab21.com.
MDxHealth 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 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. For more information, visit mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
For more information:
Shalon Roth, EVP Corporate Communications
UK: +44 (0)7393 906278
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.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx, SelectMDx, AssureMDx and PredictMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners.
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