IRVINE, Calif. and HERSTAL, Belgium, April 2, 2014 (GLOBE NEWSWIRE) -- MDxHealth SA (NYSE Euronext: MDXH), a leading molecular diagnostic company that develops and commercializes epigenetic tests to improve the diagnosis and treatment of cancer patients, today announced that it has entered into a co-marketing agreement with LI PATH (Long Island Pathology, Inc.) to promote MDxHealth's ConfirmMDx® for Prostate Cancer test. LI PATH is a high-end, full-service independent anatomic and clinical pathology laboratory that serves the New York City metropolitan area. The agreement expands MDxHealth's access to urologists in the highly populated New York and New Jersey region.
"Our goal is to be the premier laboratory serving the urology community in the New York City area, and offering the most advanced molecular testing to our urology clients is an important part of that equation," stated Ken Cerney, Chief Executive Officer of LI PATH. "The ConfirmMDx for Prostate Cancer test provides actionable information to help urologists better stratify patients at risk for undetected prostate cancer and guide the decision for repeat biopsy. The addition ConfirmMDx to our portfolio of tests enhances our ability to serve our clients."
"We are excited to announce our strategic partnership with LI PATH, recognized as a leading anatomic and clinical pathology laboratory in the New York metropolitan region. With their extensive client base and strong reputation, the partnership further expands access to our ConfirmMDx for Prostate Cancer test within this important geographic region," said Dr. Jan Groen, CEO of MDxHealth. "It is rewarding to partner with progressive thinking laboratory professionals like LI PATH, who are focused on leveraging molecular diagnostic tests to deliver the highest quality patient care."
About ConfirmMDx® for Prostate Cancer
Over 975,000 American men receive a negative prostate biopsy result each year, though approximately 25% of these men may still harbor occult prostate cancer. This well-documented risk of undetected cancer, often with clinically significant Gleason scores, leads to a high rate of repeat biopsies with greater than 40% of men receiving at least one repeat biopsy, and many receiving a 3rd and 4th biopsy. Today's gold standard diagnostic approach is the prostate biopsy procedure, collecting 10-12 needle core biopsy samples; however this sampling represents less than 1% of a man's prostate. ConfirmMDx for Prostate Cancer is an epigenetic assay to help urologists distinguish patients who have a true-negative biopsy from those at risk for occult cancer. The test is able to detect an epigenetic field effect or "halo" associated with the cancerization process at the DNA level. This molecular "halo" around a cancer lesion can be present despite having a normal appearance under the microscope. The test helps urologists rule out prostate cancer-free men from undergoing unnecessary repeat biopsies and rule in high-risk patients who may require repeat biopsies and potential treatment.
About LI PATH
LI PATH is a premier diagnostic and consultative anatomical laboratory located in East Setauket, New York that has been serving the regional community for nearly 20 years. LI PATH is dedicated to providing top-level diagnostic pathology and clinical services in a cost effective and efficient manner. The laboratory's pathologists are certified by the American Board of Pathology with multiple areas of sub-specialties and are active members of the community. For additional information about LI PATH's clinical and AP diagnostic offerings, please visit http://www.lipath.com
MDxHealth is a molecular diagnostics company that develops and commercializes advanced epigenetic tests for cancer assessment and the personalized treatment of patients. 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, bladder and lung cancers. For more information visit www.mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
For more information:
|Dr. Jan Groen, CEO||Mike Sinclair||Len Hall|
|MDxHealth||Halsin Partners||Allen & Caron, Inc|
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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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