|MDxHealth CEO Jan Groen|
Belgium's MDxHealth ($MDXH) has secured $12.6 million in private equity, cash the company plans to use to scale up its U.S. sales of cancer diagnostics.
The firm develops and markets molecular diagnostics to detect various cancers, focusing on epigenetic tests to diagnose tumors, predict recurrence and determine ideal treatments.
With the $12.6 million raised, MDxHealth is looking to expand the reach of its platform, the company's CEO said in a statement. "We are delighted to have raised this additional funding from a mix of new and existing investors who share our belief in the commercial potential of our world leading DNA methylation platform," Jan Groen said.
Among the company's most promising products is ConfirmMDx, a molecular diagnostic for prostate cancer. As Groen told FierceBiomarkers at BIO 2012 last month, the test is designed to use existing tissue samples to confirm biopsies, saving patients from having to undergo unpleasant repeat procedures. If ConfirmMDx finds tumors missed by initial biopsies, the company also offers InformMDx, determining which cancers require immediate treatment and which can just be monitored, Groen said.
- read the company's release