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MDxHealth

Pairings: Apr 6, 2011

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Hany Massarany, Christopher Gleeson, Paul Ross, Jonathan Epstein, James Herman, Gerrit Meijer, Eric Wallen

The amount raised from the private placement of new shares exceeds the company's target of at least €6 million announced on Monday.

Net proceeds from the offering, which is targeting at least $8.5 million, will be used to hasten product development, to create a CLIA laboratory, and to hire a sales and marketing team in the US.

According to the company's earnings statement, MDxHealth's product and service revenues nearly doubled – from €1 million in 2009 to €2 million in 2010 – due to several companion diagnostics deals and biomarker licensing agreements inked with major drug companies.

The firm's grant revenues declined but were offset by a 91 percent increase in revenues from products and services.

In its companion diagnostics development program for an investigational PARP inhibitor oncologic, Pfizer is pursuing methylation-specific biomarkers rather than BRCA gene mutations to help personalize the drug.

MDxHealth will use its DNA methylation platform to identify and develop biomarkers that can predict patient response to a PARP inhibitor under development by Newcastle University, Cancer Research Technology, and Pfizer.

Exact has been evaluating several MDxHealth methylation biomarkers, among other biomarkers, as well as its methylation-specific PCR technology, under a previous licensing agreement.

MDxHealth said that Exact's decision to move forward with the test has triggered a milestone payment of an undisclosed amount. The company is also entitled to royalties on sales of the test once it is commercialized.

The division, called MDxHealth PharmacoDx, will collaborate with the University of Ghent to leverage next-generation epigenetic sequencing technology.

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A new analysis finds that nearly half the late-stage clinical trials sponsored by a US National Cancer Institute program influence patient care.

Technology Review reports that sickle cell patients are optimistic about gene editing to treat their disease, but are worried about how available it will be.

The owner of the GEDmatch website tells CBS12 he is considering charging law enforcement a fee to use the site.

In Nature this week: babies born by caesarean section are more likely to have altered gut microbiota profiles, and more.