MDxHealth renews methylation biomarker agreement with Veridex
16 Dec 2010
MDxHealth SA, a molecular diagnostics company in the field of
personalized cancer treatment, has renewed its agreement with Veridex
for the use of certain of its proprietary DNA methylation products in
blood testing for colorectal cancer and prostate cancer screening.
The transaction demonstrates MDxHealth’s ability to deliver on its
recently announced strategy of developing and commercializing its
DNA methylation products itself through a CLIA laboratory in the US
while out-licensing its methylation technology for cancer screening
applications at an accelerated pace and as broadly as possible.
Under the revised agreement, the Company grants Veridex
non-exclusive rights for worldwide laboratory service testing to
MDxHealth’s DNA methylation biomarkers for use in blood-based
detection of colorectal cancer, as well as tissue and urine-based
detection of prostate cancer. In return, MDxHealth will receive
milestone payments and royalties on net sales. Financial terms were
The new agreement replaces a broader agreement under which
Veridex had exclusive rights to certain MDxHealth DNA methylation
biomarkers for all resulting new products.
“This agreement demonstrates how quickly MDxHealth has been able
to deliver on our new strategy. It greatly simplifies our
contractual obligations and at the same time it could potentially
provide revenues from future royalty streams from prostate and
colorectal cancer screening applications developed by Veridex,” said
Dr. Jan Groen, Chief Executive Officer of MDxHealth.