MDxHealth SA (Euronext: MDXH.BR) today announced that it has signed a commercial agreement with IPS Genomix for the distribution of its SelectMDx® for Prostate Cancer test in the Middle East. With their expert teams covering Lebanon, Egypt, United Arab Emirates, Saudi Arabia, Oman, Bahrain, Qatar, and Jordan, IPS Genomix is ideally positioned to reach the estimated 1 million men across the region with an elevated PSA, who would be potential candidates for SelectMDx.
Under the terms of the agreement, IPS Genomix will handle distribution and reimbursement for SelectMDx within the Middle East, while MDxHealth will perform the SelectMDx testing service in its state-of-the-art ISO certified clinical diagnostic laboratory in Nijmegen, The Netherlands. IPS Genomix will reimburse MDxHealth for all testing services performed.
"We are delighted to announce our collaboration with IPS Genomix for the promotion of SelectMDx across the Middle East," commented Dr. Jan Groen, CEO of MDxHealth. "IPS Genomix is the ideal partner to bring SelectMDx to physicians, helping to improve both the quality of care and outcomes for patients suspected of harboring aggressive prostate cancer."
"With more than 25 years of experience in the medical field within the Middle East and Africa, we continuously aim to provide patients with the most effective and appropriate tools for diagnosing and fighting cancer," stated Ahmed Yacout, Chairman and CEO of IPS Group. "We are excited to partner with MDxHealth and bring together, with our expert teams, this new innovative test to physicians in the region to help optimize prostate cancer diagnosis and management at every level."
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 gene methylation (epigenetic) and other molecular technologies and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth and linkedin.com/company/mdxhealth.
IPS Genomix was founded in 2013 by a group of experts who have been in the healthcare domain for more than 25 years in the Middle East and Africa territories. IPS Genomix partners with US and European molecular diagnostic companies, to provide a diversification of genomic testing services focused on improving patient care utilizing the latest technologies of prognostic, predictive and personalized medicine. The treating physician can then individualize the treatment of his patients to enhance the prevention and/or treatment of certain conditions and diseases. Given the rapid evolution of this particular field, IPS Genomix constantly incorporates new technology platforms and assays to offer physicians and their patients with the most up to date, reliable and cutting edge personalized medicine tools. More information about IPS Genomix is available at http://www.ips-genomix.com.