NEW YORK (GenomeWeb News) – MDxHealth today said that it has renewed and amended an existing licensing agreement with Veridex for use of certain DNA methylation biomarkers for colorectal cancer and prostate cancer screening.
Under the revised pact, Veridex, a Johnson & Johnson company, has received non-exclusive rights for worldwide laboratory service testing using MDxHealth's DNA methylation biomarkers. The licensed technology may be used for blood-based detection of colorectal cancer and for tissue- and urine-based detection of prostate cancer.
In return, Liege, Belgium-based MDxHealth will receive from Veridex milestone payments and royalties on net sales. Financial and other terms were not disclosed.
The new agreement replaces an older pact between the firms that had granted Veridex exclusive rights to certain MDxHealth DNA methylation biomarkers.
Jan Groen, CEO of MDxHealth, said that the new agreement "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."