OncoMethylome Sciences Changes its Name to MDxHealth

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DURHAM, NC, and LIEGE, BELGIUM - October 6, 2010 - OncoMethylome Sciences SA (Euronext Brussels: ONCOB, Euronext Amsterdam: ONCOA) today announced that its Extraordinary General Shareholders' Meeting passed the resolution on the proposed name change of the company to MDxHealth SA. The name change was unanimously supported by the shareholders present or represented at the meeting.

 

As announced on August 26 in the 2010 half-year results, MDxHealth is finalizing a new strategy that focuses on high-value oncology based molecular diagnostic testing for personalized medicine. The aim of this new strategy is to reap the full benefits of the company's world-leading methylation platform by developing DNA-biomarkers as stand-alone cancer diagnostics.  The company has moved away from its original model as a pure discovery company which out-licensed biomarkers to third party developers and distributors.  In the new strategy, the company will end-develop products itself and sell them directly to treating physicians and to pharmaceutical companies.  This new strategy will enable the company to control product development and sales rather than being entirely dependent on partners.

 

To fully reflect the change in strategy and better position the company towards patients, physicians and new pharmaceutical partners, management and the Board of Directors proposed MDxHealth as the new name of the company.  The name change is particularly important for the company's direct sales to treating physicians who want healthcare solutions.  The company believes that "MDxHealth" captures its new aspirations. "MDx", short for molecular diagnostics, has rapidly become one of the key areas of healthcare innovation and progress; an area where diagnostics and therapeutics converge. While "Health" is really what the company's work is all about: assisting physicians to improve the life and health of cancer patients. "MDxHealth" conveys the company's renewed mission: to develop and commercialize advanced molecular diagnostic tests for personalized cancer treatment.

 

As of October 7th, the ticker symbol of the company listed on NYSE Euronext Brussels and Amsterdam will become MDXH.

 

About MDxHealth
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 and their patients with the accurate diagnosis of cancer, prognosis of recurrence risk and prediction of response to a specific therapy. MDxHealth collaborates with leading cancer research centers such as The 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/Schering-Plough, GlaxoSmithKline Biologicals, Roche, Merck Serono, Qiagen and other industry leaders.

 

 

 

For more information:
Dr. Jan Groen
CEO
+32 4.364.20.70 office
IR@mdxhealth.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.