Full Press Release Details
DURHAM, NC, LIEGE, BELGIUM and LEXINGTON, MA - November 22nd, 2010 - MDxHealth SA (NYSE Euronext: MDXH), a leading molecular diagnostics company in the field of personalized cancer treatment, today announced that it has agreed to out-license certain DNA methylation biomarkers to Predictive Biosciences (Lexington, MA) for diagnostic applications in bladder cancer.
Under the agreement, MDxHealth grants Predictive Biosciences exclusive rights for the use of a number of its DNA methylation biomarkers in bladder cancer testing in the United States. MDxHealth retains exclusive worldwide rights to these markers in tissue-based bladder cancer tests. In return, MDxHealth will receive upfront and milestone payments and royalties on net sales. Predictive Biosciences is one of the few diagnostic companies with a strong focus on applications in urologic oncology, including bladder cancer.
"We are pleased to work with Predictive Biosciences, a recognized player in the urologic oncology space, just like our partner Exact Sciences is in colon cancer screening. We believe that collaborating with partners who focus on one specific disease area is a better way to leverage our biomarkers for cancer screening as these dedicated companies stand a greater chance of bringing these products successfully to market," said Dr. Jan Groen, Chief Executive Officer of MDxHealth.
"Predictive Biosciences is delighted to obtain an exclusive license to MDxHealth's proprietary DNA methylation biomarkers for use in our bladder cancer programs. These powerful biomarkers can play an important role in rapidly developing an industry-leading diagnostic panel for the management of bladder cancer, a devastating disease for which today physicians have only limited tools at their disposal," said Peter Klemm, Chief Executive Officer of Predictive Biosciences.
MDxHealthTM is a leading molecular diagnostics company that develops and commercializes oncology based molecular diagnostic testing for personalized medicine. The company's tests are based on proprietary gene methylation technology and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. MDxHealth collaborates with leading cancer research centers such as Johns Hopkins University, Duke University, Lovelace Respiratory Research Institute, Eastern Virginia Medical School, Cleveland Clinic, Memorial Sloan Kettering and major European medical centers. The company has a number of commercial and collaborative partnerships with LabCorp, Merck & Co./Schering-Plough, GlaxoSmithKline Biologicals, Roche, Merck Serono, Qiagen and other industry leaders.
About Predictive Biosciences
Predictive Biosciences is a fully‐integrated developer of novel molecular diagnostic cancer assays and an urology‐focused provider of anatomic pathology laboratory products and services. Leveraging a portfolio of patented biomarkers and clinical approaches, the company is building a unique portfolio of assays for cancer management, first targeted at bladder and prostate cancer. Predictive Biosciences' commercial division, OncoDiagnostic Laboratory (ODL), is a Clinical Laboratory Improvement Act (CLIA)‐certified anatomic pathology and molecular diagnostics lab with a national sales force serving urologists and other subspecialty physicians. For additional information, please visit www.predictivebiosci.com.
For more information:
Dr. Jan Groen, CEO Hans Herklots
MDxHealth Capricorn One
+32 4.364.20.70 +41 79 598 7149
Dr. Andy Hu Sharon Bleakney
Predictive Biosciences Predictive Biosciences
+1 (781) 402-1780 x202 +1 (781) 402-1780 x246
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.
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2010-11-22 Predictive Biosciences ENG...