DURHAM, NC, and LIEGE, BELGIUM - May 3, 2011 - MDxHealth SA (NYSE Euronext: MDXH), a leading molecular diagnostics company in the field of personalized cancer treatment, today announced that together with partner NovioGendix B.V., a molecular diagnostics company spun out from Radboud University Nijmegen Medical Centre (RUNMC), the Netherlands, has received a USD 1.1 million grant from Eurotrans-Bio to progress its bladder cancer program. Eurotrans-Bio is a European Commission initiative to foster cross border research & development between companies and academia working in the biotech industry.
"This grant provides MDxHealth and NovioGendix with the necessary resources to investigate further the unique biological indicators and patterns seen in bladder cancer derived from patient samples from the existing collaboration of NovioGendix with RUNMC," explained Dr. Jan Groen, CEO of MDxHealth.
During 2011 and 2012, MDxHealth and NovioGendix will use the funds to discover and validate tumor markers for the prediction of tumor progression into the muscle in developing invasive stage of bladder cancer using DNA methylation technologies, DNA sequencing and RNA-expression profiles on clinical samples collected from bladder cancer patients at the Urology Department of RUNMC. Such predictive markers will guide the treatment decisions for the more aggressive bladder tumors.
Bladder cancer is one of the most common cancers, with 60 to 80 percent of survivors experiencing recurrence of the disease. There is an urgent need for accurate biomarkers of the disease, its progression, and its risk of recurrence following initial treatment so that diagnostic tests can be developed to enable earlier and targeted therapeutic intervention.
The overall objective of Eurotrans-Bio is to provide the European biotech industry with a prolific funding program dedicated to foster cooperation and cross-border partnerships between active small and medium-sized enterprises (SMEs) and their academic partners across the European member states, and to establish a sustainable joint funding program for biotech SMEs by 2012.
MDxHealth 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 with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. MDxHealth collaborates with leading cancer research center such as Johns Hopkins University and Memorial Sloan Kettering, and major European academic medical centers. The company has a number of commercial and collaborative partnerships with LabCorp, Merck & Co./Schering Plough, GlaxoSmithKline Biologicals, Roche, Merck Serono, Pfizer, and other industry leaders. More information can be found on the Company website: www.mdxhealth.com or on twitter at the following address : www.twitter.com/mdxhealth.
MDxHealth to present at Bio€quity Europe 2011
MDxHealth will present at the Bio€quity Europe in Paris on Tuesday May 24th.
Dr Jan Groen, chief executive officer, will make a formal presentation on the company at 13:30 in Hotel Marriott Rive Gauche, room La Seine B, Boulevard Saint-Jacques, 75014 Paris, France.
For more information:
Dr. Jan Groen, CEO
+32 4 364 20 70
+41 79 598 7149