SOURCE: MdxHealth (TM)

MdxHealth (TM)

July 01, 2013 02:34 ET

MDxHealth and Sumitomo Sign Pharmaco Molecular Diagnostic Partnership for Japan

IRVINE, CA and LIEGE, BELGIUM--(Marketwired - Jul 1, 2013) - MDxHealth SA (EURONEXT BRUSSELS: MDXH), a leading molecular diagnostic company that develops and commercializes epigenetic tests to support the diagnosis and treatment of cancer patients, today announced the signing of a partnership with Summit Pharmaceuticals International Corporation (SPI) a subsidiary of Sumitomo Corporation to gain access to the Japanese market with its pharmaco molecular diagnostic (PharmacoMDx) epigenetic technologies and products. Expanding upon MDxHealth's PharmacoMDx program, the partnership aims to provide companion diagnostic solutions, or theranostics, to pharmaceutical companies in the Japanese market. No financial terms have been disclosed.

"As the global life sciences industry continues to pair diagnostics with therapeutics to determine patient response, we believe this partnership with SPI will provide MDxHealth with the necessary leverage and expertise to penetrate the Japanese market," stated Dr. Jan Groen, CEO of MDxHealth. "We look forward to working closely with the SPI team to offer our unique epigenetic PharmacoMDx products and services to drug development companies."

MDxHealth's PharmacoMDx team leverages Next-Generation and Deep Sequencing technologies for the identification and validation of powerful epigenetic biomarkers for novel therapeutics. Companion diagnostic assays are playing an increasingly important role in the development process of new compounds as they can help identify patients who may benefit from a new drug, improving efficacy, reducing adverse side effects, and potentially accelerating regulatory approval thereby helping pharma companies reduce the time and cost associated with bringing new products to market. 

About Summit Pharmaceuticals International Corporation
Summit Pharmaceuticals International Corporation is a group of specialists in Japan that provides high-quality integrated services from drug discovery research to the production stage of pharmaceuticals and chemicals. SPI is a subsidiary of Sumitomo Corporation which is a leading general trading company with 140 locations in 66 countries throughout the world. For more information, visit http://www.summitpharma.co.jp/.

About MDxHealth®
MDxHealth is a molecular diagnostics company that develops and commercializes advanced epigenetic tests for cancer assessment and the personalized treatment of patients. The company's first commercial product, ConfirmMDx™ for Prostate Cancer, has been shown to help distinguish patients who have a true-negative biopsy from those who may have undetected cancer. MDxHealth helps to address a large and growing unmet medical need for better cancer diagnosis and treatment information. The company has a proprietary platform and a strong epigenetic product pipeline focused on the development of products for prostate, brain and lung cancers. The company is based in Irvine, California with a European headquarters in Liege, Belgium. For more information visit MDxHealth's website at www.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. 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 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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