Based on its recent analysis of the molecular diagnostics for oncology market, Frost & Sullivan recognizes MDxHealth with the 2011 Europe Frost & Sullivan Award for Technology Leadership. MDxHealth's epigenetic platform, the methylation-specific-polymerase chain reaction (PCR) (MSP), can detect the presence of a single cancer cell from almost 10,000 cells with high accuracy and specificity.
MDxHealth's platform offers physicians a novel molecular gene-based technology that uses individual genes as DNA biomarkers and methylation-based molecular diagnostics (MDx) to identify certain gene modifications caused by the presence of cancerous cells. By leveraging the importance of a platform-independent approach, the company has gained expertise in working with a broad spectrum of PCR platforms and therefore, is able to perform assays on a variety of commonly used devices.
MDxHealth works on two principal applications categories: clinical diagnostics, aimed at helping physicians accurately detect and offer prognosis, and pharmaco diagnostics, aimed at assisting pharmaceutical companies in developing companion diagnostics for multiple cancer therapeutics.
The company provides a combination of the most appropriate assays for each type of cancer. Its three main product categories are ConfirmMDx, to determine of the presence or absence of cancer cells; InformMDx, to provide prognostic assessment in distinguishing between aggressive and non-aggressive tumours; and PredictMDx, to indicate which drug or treatment regimen should be addressed to accomplish an effective therapy.
"MDxHealth's tests help distinguish between different levels of drug responders, while helping to accelerate the pharmaceutical development of a variety of drug therapies and demonstrating higher drug efficacy rates," said Frost & Sullivan Senior Research Analyst Cecilia Van Cauwenberghe. "Such new dynamic work styles enable the companies to overcome regulatory issues expediently, while simultaneously diminishing drug discovery and development costs."
The company also drives a pharmaco molecular diagnostics program focused on providing innovative biomarker development services to Biopharma companies to support their drug development programmes and improve their results. MDxHealth's ability to develop and validate highly customized assays significantly helps meet partners' needs in their R&D programs by offering them a reliable and high-performance technology.
MDxHealth's DNA preparation process adheres to a strict quality policy that governs each step of the process. It is this attention to detail that has enabled it to meet ISO 9001 specifications and own the most widely used and cited methylation detection technology in the world.
Another factor that has contributed significantly to MDxHealth's success is its strong IP portfolio, which comprises more than 40 issued patents in multiple countries. The company has established a solid out-licensing and partnering policy by offering numerous opportunities to specialized third-party companies. By this arrangement, the third-party companies can draw up different licensing agreements for some of its technology components to develop applications not pursued by MDxHealth.
Licensing opportunities are open for screening and recurrence monitoring of bladder cancer, colorectal cancer screening, cervical cancer screening and triage, melanoma, ovarian, lung, and breast cancer, in addition to non-cancer diseases that can make use of the DNA methylation process for their diagnosis.
The company's business strategy and its commitment to providing ground-breaking solutions have given a huge boost to its growth rates. In 2010 alone, MDxHealth generated over €2.0 million in product sales and services agreements, which was an increase of 91 per cent over 2009. It gained this competitive edge and market position through strategic investments in technology and business development.
"The company also made a conscious effort to move away from a discovery/license model to a commercial/sales model, and consolidated a strengthened advisory board and management team," noted Van Cauwenberghe. "MDxHealth maintains a strong partnership and collaborations policy, leveraging the robust IP position of the proprietary technology, extensive pipeline, high quality and performance, growing market, clear commercial strategy and profitability to remain successful."
Each year, Frost & Sullivan presents this award to the company that demonstrated excellence in technology leadership within its industry by excelling in all stages of the technology life cycle - incubation, adaptation, take up, and maturity - to ensure a continuous flow of improvements. By innovating leading-edge concepts the company has pioneered client applications.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
MDxHealth (mdxhealth.com) is a molecular diagnostics company that develops and commercializes advanced tests for cancer assessment and the personalized treatment of patients. MDxHealth is a publicly-listed company trading on the NYSE Euronext markets of Brussels and Amsterdam under the ticker symbol "MDXH". MDxHealth was established in 2003 and is headquartered in Belgium. Its US headquarters is located in Irvine, CA. MDxHealth develops and commercialize molecular diagnostic products on its own or in partnership with pharmaceutical companies. Some of its products are already commercialized and the company has a broad pipeline of other products for major cancer indications.
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