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With this new partnership, SouthGenetics Inc., a Montevideo, Uruguay based biotechnology company that focuses on providing access to the latest medical diagnostic services, will have rights to commercialize ConfirmMDx within the following countries: Argentina, Bolivia, Chili, Columbia, Ecuador, Mexico, Peru, Dominican Rep., Panama, Paraguay, Uruguay, and Venezuela. In Latin America, more than 160,000 cases of prostate cancer are diagnosed every year and the issues associated with false-negative biopsies are a significant concern. All ConfirmMDx test orders generated through SouthGenetics' territories will be processed in MDxHealth's CLIA laboratory in Irvine, California.
Dr. Jan Groen, CEO of MDxHealth commented,"It is our strategy to ensure that patients across the globe can benefit from ConfirmMDx and this partnership with SouthGenetics opens access to expansive new markets in Latin America. Together we believe that ConfirmMDx will help improve the quality of care and health outcomes for those patients at increased risk for prostate cancer across the region."
About MDxHealth
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 SouthGenetics
SouthGenetics (southgenetics.com) is a biotechnology distribution company with presence in major Latin American countries including; Argentina, Colombia, Chile, Dominican Rep, Ecuador, Mexico, Panama, Paraguay, Peru and Venezuela. The Company's mission is to provide patients and doctors access to the highest quality emerging diagnostics tools available. Through strategic partnerships it provides high quality diagnostic services in many clinical areas, such as oncology, gynecology and urology.
About ConfirmMDx® for Prostate Cancer
Over 975,000 American men are diagnosed with a negative prostate biopsy each year; however approximately 25-35% of those men receive false-negative results. Under the current standard of care, prostate biopsy procedures consisting of 10-12 needle biopsy cores only sample approximately 1% of a man's prostate. This approach leaves men at risk of undetected cancer, leading to a high rate of repeat biopsies, even on cancer-free men. There is an unmet medical need for a clinically effective diagnostic test to address this dilemma. ConfirmMDx for Prostate Cancer is able to detect an epigenetic field effect or "halo" associated with the cancerization process at the DNA level. This "halo" around a cancer lesion can be present despite cells having a normal appearance under the microscope. Thus ConfirmMDx for Prostate Cancer aids urologists in identifying truly negative men who may forego an unnecessary repeat biopsy procedure. Performance of the proprietary ConfirmMDx genes and technology has been published in 45 studies on over 5,000 patients tested. The ConfirmMDx test has qualified for Medicare reimbursement as of November 3, 2014 and is also available to more than 152 million insured lives via private health insurance plans.
Contacts:
Amber Fennell, Chris Welsh, Hendrik Thys (PR & IR) - Consilium Strategic Communications
P: +44(0)20 3709 5701 - E: mdxhealth[.]consilium-comms.com.
Melody Carey (IR) - Rx Communications Group, LLC
P: +1 917-322-2571 - E: mdxhealth[.]rxir.com.
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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