MOUNTAIN VIEW, Calif., Jan. 21, 2016 /PRNewswire/ -- Based on its recent analysis of the prostate cancer diagnostics market, Frost & Sullivan recognizes MDxHealth with the 2015 Global Frost & Sullivan Award for Technology Innovation. To advance molecular diagnostic tests for urological cancers, MDxHealth supplemented its prostate cancer test, ConfirmMDx, with a urine-based "liquid-biopsy" test called SelectMDx. These two solutions can significantly reduce the number of unnecessary biopsy procedures thereby eliminating needless pain, infection, and cost.
"The standard prostate cancer biopsy procedure is imprecise, evaluating less than 1 percent of the prostate, leaving close to one third of men at risk for undetected cancer which results in a high rate of repeat biopsies," said Frost & Sullivan Senior Industry Analyst Divyaa Ravishankar. "MDxHealth's ConfirmMDx and SelectMDx tests help urologists identify prostate cancer patients with much higher accuracy. While the SelectMDx test clarifies the requirement for a biopsy, the ConfirmMDx provides in-depth tissue analysis."
ConfirmMDx for Prostate Cancer, an epigenetic test, is MDxHealth's flagship product. Although prostate cancer lesions are frequently small, the tissue around the tumors is often altered at the genomic level. The ConfirmMDx test is used to analyze prostate tissue samples, previously interpreted as benign or normal, with epigenetic biomarkers, which identify DNA methylation changes associated with the presence of prostate cancer. Using the residual tissue from the previous biopsy, ConfirmMDx effectively expands the analysis to a larger region of the prostate to rule out the presence of cancer, thereby eliminating the need for repeat biopsies.
Cancer cells could be present in about 25 percent of the samples that pathologists previously identified as cancer-free, clearly demonstrating the medical need for ConfirmMDx. The test has a 96 percent negative predictive value to rule out aggressive prostate cancer. MDxHealth announced its recent partnership with SouthGenetics, Inc. that will allow it to expand its market share and offer the ConfirmMDx test in both Central and South America.
The SelectMDx for Prostate Cancer test was designed and validated to identify men with elevated prostate-specific antigens (PSA) who are at risk for aggressive prostate cancer. PSA screening measures the protein level in the blood, which can elevate due to a variety of factors, including benign prostate hyperplasia or even an infection. The urine-based SelectMDx test assesses prostate cancer-specific molecular RNA (mRNA), which give urologists a better idea of whether or not to perform a prostate biopsy.
"The company is expanding its diagnostic offerings into other urological applications as well, and has developed the urine-based "liquid biopsy" test called AssureMDx™ for Bladder Cancer test which is currently undergoing clinical validation trials. MDxHealth expects to release the test for clinical testing by the end of 2016," noted Ravishankar. "Overall, with a strong pipeline of products targeting different urological cancers, MDxHealth has altered the landscape of the cancer diagnostics market."
Each year, Frost & Sullivan presents this award to the company that has demonstrated uniqueness in developing and leveraging new technologies, which significantly impacts both the functionality and the customer value of the new products and applications. The award lauds the high R&D spend toward innovation, its relevance to the industry, and the positive impact on brand perception.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
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 Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 364 20 70
SOURCE Frost & Sullivan