Promising market with an estimate of over 300.000 Spanish men with elevated PSA levels
MDxHealth’s urine test a non-invasive, molecular test clearly showing who could safely forego a painful biopsy, saving patients from over diagnosis and over treatment
NEWS RELEASE / REGULATED INFORMATION / INSIDE INFORMATION
HERSTAL, BELGIUM and IRVINE, CA, – November 20, 2017 – MDxHealth SA (Euronext: MDXH.BR), a world leader in molecular diagnostic prostate cancer testing, today announced the appointment of Ferrer as exclusive distributor for Spain of its SelectMDx® for prostate cancer as from January 2018. Ferrer is, an international privately-held pharmaceutical company, headquartered in Barcelona, Spain, and with operations in over 95 countries.
MDxHealth’s molecular test offers a non-invasive cost saving ‘liquid biopsy’ method to assess a man’s risk for aggressive prostate cancer on the basis of two biomarkers in their urine. The current rate of about 100,000 expensive, invasive and often painfull biopsies in Spain, and 33,000 new prostate cancer patients annully, indicate about 300.000 Spanish men with increased PSA levels. These numbers will grow significantly over the coming years, driven by the further ageing male population. Therefore the Spanish market is a very promising market for MDxHealth’s test.
Under the terms of this five-year exclusive agreement, a team of 10 reps from Ferrer’s sales force of are going to sell the SelectMDx test directly to 1000 urologists in Spain. Samples will be sent to the state-of-the-art ISO certified laboratory in Nijmegen, the Netherlands, for analysis.
“As the SelectMDx test is gaining significant momentum to become standard of care, our commitment to deliver its benefits to men with an elevated PSA level around the world continues to grow,” said Dr. Jan Groen CEO of MDxHealth. “We believe this relationship with Ferrer will make SelectMDx more widely available to urologists and their patients in Spain.”
“The SelectMDx test is supported by strong clinical evidence confirming its beneficial role in providing actionable information over and above tests like PSA and the PCA3,” said, Dr. José Luis Lirio, Director of Ferrer Hospital. “This agreement complements Ferrer’s commitment to innovative diagnostic products for our customers in Spain.”
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 harboring 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 the need for MRI procedures and invasive prostate biopsies by up to 50%, thereby reducing healthcare costs.
MDxHealth 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 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 social media at: twitter.com/mdxhealth, facebook.com/mdxhealth and linkedin.com/company/mdxhealth.
Founded in 1959, Ferrer is a privately-held Spanish pharmaceutical company, with full vertical integration from R&D to distribution. It is present in more than 95 countries, with 24 international affiliates. Ferrer is active in the pharmaceutical, health, fine chemical and food sectors and has diversified across the whole healthcare spectrum, including prescription drugs, hospital products, medical devices, molecular diagnostics, OTC and self-care. This diversification led to the establishment of Ferrer Hospital in the late 90s, a specialized division for hospital and high technology markets. It has developed a strong presence in the fields of oncology, intensive care, supportive therapies, complicated pain and palliative care, as well as in blood banks and laboratories. Visit hospitales.ferrer.com and ferrer.com
For more information:
Shalon Roth, EVP Corporate Communications
+44 (0)7393 906278
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.
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