MDxHealth Amends Existing Methylation Biomarker Agreement with Veridex, LLC

Partnering of Cancer Screening Applications Supports MDxHealth's New Strategy
 
DURHAM, NC, and LIEGE, BELGIUM - December 15, 2010 - MDxHealth SA (NYSE
Euronext: MDXH), a leading molecular diagnostics company in the field of
personalized cancer treatment, today announced it has renewed its existing
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 new strategy of developing and commercializing its DNA methylation
products itself through a CLIA laboratory in the U.S. 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 not
disclosed.
 
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.
 
About MDxHealth
 
MDxHealth   is  a  leading  molecular  diagnostics  company  that  develops  and
commercializes   oncology-based   molecular  diagnostic  testing  and  companion
diagnostics  for personalized medicine. The  company's numerous cancer tests are
based  on proprietary  gene methylation  technology and  are designed  to assist
physicians  in  the  diagnosis  of  cancer,  prognosis  of  recurrence risk, and
prediction  of  response  to  a  specific  therapy.  MDxHealth collaborates with
leading   cancer  research  centers  such  as  Johns  Hopkins  University,  Duke
University,  Lovelace Respiratory  Research Institute,  Eastern Virginia Medical
School,  Cleveland Clinic, 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, Qiagen, and other industry leaders.
 
MDxHealth to present at Biotech Showcase in San Francisco on January 10, 2011
 
MDxHealth will present at the Biotech Showcase Conference in San Francisco, on
Monday, Jan. 10, 2011. Dr. Jan Groen, chief executive officer, will make a
formal presentation on the company at 2 p.m. Pacific time. The Biotech Showcase
runs parallel to the 28th Annual J.P. Morgan Healthcare Conference, and takes
place at Parc 55 Wyndham San Francisco - Union Square.
 
For more information:
 
Dr. Jan Groen, CEO                                          Hans Herklots
 
MDxHealth                                                  Capricorn One
 
+32 4.364.20.70                                                 +41 79 598 7149
 
IR@MDxHealth.com                                         capricorn1@bluewin.ch
 
This  press  release  contains  forward-looking  statements  and  estimates with
respect  to the  anticipated future  performance of  MDxHealth and the market in
which  it operates. Such  statements and estimates  are based on assumptions and
assessments  of known and unknown risks,  uncertainties and other factors, which
were  deemed  reasonable  but  may  not  prove  to be correct. Actual events are
difficult  to predict,  may depend  upon factors  that are  beyond the Company's
control,  and  may  turn  out  to  be materially different.  MDxHealth expressly
disclaims  any obligation to update any  such forward-looking statements in this
release  to reflect any  change in its  expectations with regard  thereto or any
change  in events,  conditions or  circumstances on  which any such statement is
based unless required by law or regulation.
 
2010-12-15 Veridex ENG: 
http://hugin.info/137314/R/1472449/409063.pdf
 
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Source: MdxHealth via Thomson Reuters ONE
 
[HUG#1472449]