Exact Sciences also to acquire biomarker and technology patents
NEWS RELEASE / REGULATED INFORMATION / INSIDE INFORMATION
IRVINE, CA, and HERSTAL, BELGIUM - 07:00 CEST, April 27, 2017 - MDxHealth SA (Euronext:MDXH.BR) today announced that it has signed a five-year agreement with Exact Sciences Corp. (EXAS) for collaboration in the growing field of epigenetics and molecular diagnostics.
Building on a long-standing relationship spanning more than a decade, the new agreement will allow MDxHealth and Exact Sciences to share proprietary technologies arising from their respective ground-breaking discovery and development efforts in the fields of epigenetics and molecular diagnostics. Over the course of the collaboration, the parties may identify opportunities to share technologies in a range of indications, including urologic and lung cancers.
Contemporaneously with the execution of the collaboration agreement, Exact Sciences is also acquiring MDxHealth patents directed toward colorectal cancer, including its DNA methylation biomarker, NDRG4, as well as technology covering the use of FIT (fecal immunochemical test) in combination with methylation. These acquisitions include one-time fees totaling $15 million, including payments accrued since July 2016.
"With its ground-breaking achievements in molecular diagnostics, Exact Sciences is an ideal partner for us to collaborate with in the identification and development of new biomarkers for clinical diagnostic products," said Prof. Dr. Wim van Criekinge, CSO of MDxHealth. "The collaboration may allow each party to better capitalise on its cutting-edge epigenetic research and development efforts to bring new products and services to market to improve patient lives."
"MDxHealth has established itself as a leader in the discovery and development of epigenetic and molecular diagnostics technologies, particularly in the field of urology," said Dr. Graham Lidgard, CSO and SVP of R&D of Exact Sciences. "We are delighted to continue our long-standing scientific co-operation through this new agreement, which has the potential to benefit both companies` product development programs."
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 Twitter at: twitter.com/mdxhealth.
About Exact Sciences
Exact Sciences Corp. is a molecular diagnostics company focused on the early detection and prevention of the deadliest forms of cancer. The company has exclusive intellectual property protecting its non-invasive, molecular screening technology for the detection of colorectal cancer. For more information, please visit the company`s website at www.exactsciences.com, follow Exact Sciences on Twitter @ExactSciences or find Exact Sciences on Facebook.
For more information:
Shalon Roth, EVP Corporate Communications
UK: +44 (0)7393 906278
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Source: MDxHealth (R) via GlobeNewswire