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MDxHealth SA, a leading molecular diagnostics company in the field of personalized cancer treatment, today announced that it has granted a limited worldwide license for its patented methylation specific PCR (MSP) technology to oncgnostics GmbH in Jena, Germany.
"oncgnostics is pleased to obtain a license to MDxHealth's proprietary epigenetic technology for use in our cervical cancer diagnostics programs. This technology allows for the accurate and sensitive assessment of DNA methylation markers included in our first test GynTect®, which is intended for the early detection of cervical neoplasias that may progress to cancer," said Dr. Alfred Hansel, Chief Executive Officer of oncgnostics.
Under the agreement, MDxHealth grants oncgnostics a limited, non-transferable, non-exclusive, worldwide license for its patented methylation specific PCR (MSP) technology for diagnostic applications in cervical cancer. In return, MDxHealth will receive upfront and milestone payments, and royalties on net sales. oncgnostics is one of the few diagnostic companies with a strong focus on applications in gynecological cancers, including cervical cancer.
"We are pleased to work with oncgnostics, an up-and-coming player in women's health. With three successful epigenetic products based on MDxHealth's proprietary MSP technology and biomarkers on the market; our lead product ConfirmMDx® for Prostate Cancer, PredictMDx® for Glioblastoma (MGMT) and our licensee Exact Sciences' Cologuard® test for colorectal cancer screening, DNA methylation is a proven diagnostic tool for cancer detection," said Dr. Jan Groen, CEO of MDxHealth. "We are excited about oncgnostics epigenetic GynTect® test, which will aid in the diagnosis and treatment of women with cervical cancer."
About oncgnostics GmbH
Founded as a spin-off from the University Womens' Hospital Jena, oncgnostics (oncgnostics.com) focuses on in vitro diagnostic tests for the early and accurate detection of cancer utilizing proprietary epigenetic biomarkers. The diagnostic products will allow earlier detection of more cancer cases and thus contribute to the improvement of therapeutic success. The initial product developed, GynTect®, allows for the rapid and reliable detection of cervical precancerous lesions and cancer. Through strategic alliances with other industry leaders, oncgnostics aims to extend its reach around the world. More information contact[.]oncgnostics.com.
About MDxHealth®
MDxHealth (mdxhealth.com) is a leading molecular diagnostic company that develops and commercializes epigenetic tests to support cancer treatment. The company's tests are based on proprietary gene methylation (epigenetics) technology and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. The company's first commercial product, ConfirmMDx® for Prostate Cancer, has been validated to help distinguish patients who have a true-negative biopsy from those who may have undetected cancer, thereby aiding in the reduction of unnecessary repeat biopsies.
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This press release may contain 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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