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.
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.
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.