MDxHealth Announces Agreement with Istituto Diagnostico Varelli for Distribution of SelectMDx Throughout Central-South Italy
NEWS RELEASE / REGULATED INFORMATION / INSIDE INFORMATION
IRVINE, CA, and HERSTAL, BELGIUM - February 23, 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 Istituto Diagnostico Varelli's urology clients throughout central-south Italy.
Under the terms of the agreement, Istituto Diagnostico Varelli will serve as a non-exclusive distributor in Italy encompassing five of the country's 20 regions; Lazio, Apulia, Campania, Calabria and Basilicata. Liquid biopsy samples will be sent to MDxHealth's state-of-the-art clinical diagnostic laboratory in Nijmegen, The Netherlands for analysis. Istituto Diagnostico Varelli will reimburse MDxHealth for all testing services performed.
"MDxHealth is pleased to have this opportunity to provide SelectMDx testing to patients through a collaborative agreement with Istituto Diagnostico Varelli, helping improve both the quality of care and outcomes for those suspected of harboring prostate cancer throughout central and southern Italy," said Dr. Jan Groen CEO of MDxHealth.
Of the nearly 2 million prostate biopsies performed each year, 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 harbouring 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.
Istituto Diagnostico Varelli is a privately held diagnostic laboratory based in Naples, Italy and has provided state-of-the-art clinical services throughout Central Italy for over 30 years. The laboratory focuses on three key clinical areas; laboratory medicine, diagnostic imaging, and cardiology. Istituto Diagnostico Varelli performs more than 2 million tests per year, representing one of the largest private clinical laboratories in all of Italy. The Istituto Diagnostico Varelli laboratory offers a wide array of tests including genetics, cytogenetic, molecular biology, anatomic-pathology, clinical biochemistry, bacteriology and virology. More information about Istituto Diagnostico Varelli is available at www.istitutovarelli.it.
MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalise 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: |
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 364 20 70
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Jonathan Birt, Chris Welsh, Hendrik Thys, Cameron Standage (PR & IR)
Consilium Strategic Communications
UK: +44 20 3709 5701
US: +1 917 322 2571 (Rx Communications Group LLC)
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