EDX Medical Group PLC Distribution agreement with Caris Life Sciences

RNS Number : 4152C

EDX Medical Group PLC

02 September 2024

 

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended.  On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

 

 

 

 

02 September 2024

EDX Medical Group plc

AQSE: EDX

("EDX Medical" or the "Company")

 

AGREEMENT WITH CARIS LIFE SCIENCES TO DISTRIBUTE MOLECULAR PROFILING IN THE UNITED KINGDOM AND NORDIC COUNTRIES

 

CAMBRIDGE, UK: EDX Medical Group plc, which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, announces today it has signed a distribution agreement with Caris Life Sciences® (Caris), a leading US-based next-generation AI TechBio and precision medicine company.

 

Under the agreement, EDX Medical and Caris will work together on a mutually exclusive basis in the United Kingdom (UK) and Nordic countries for a minimum of three years to distribute Caris' portfolio of advanced and comprehensive molecular profiling services for clinical and research use.

 

Caris' best-in-class molecular profiling, combined with proprietary artificial intelligence, enables physicians to make more precise and individualized cancer treatment decisions. This profiling approach assesses DNA, RNA, and proteins, revealing a molecular blueprint that identifies treatment options specific to each patient's cancer. Caris has developed one of the world's largest and most informative platform for cancer analysis, featuring the most advanced tumour profiling available, including Whole Exome and Whole Transcriptome Sequencing across over 23,000 genes. By analysing biomarkers found in tumours, Caris helps healthcare providers make informed choices for personalised care.

 

Caris' solid tumour and liquid (blood) biopsy molecular profiling services, as well as AI solutions, will be available exclusively via EDX Medical immediately in the UK, Sweden, Denmark, Norway and Finland, with additional regions and products to follow.

 

Professor Sir Chris Evans, OBE, founder of EDX Medical, said: "The signing of this agreement signifies a further major step forward in our strategy to provide clients with access to world-class diagnostic tools and services that can change the detection, treatment and outcome of cancer for patients.

 

"The pace of scientific advancement is such that for a patient with cancer who may only be able to provide one sample and urgently needs to start optimal treatment, reviewing their whole exome and transcriptome rather than a smaller selection of genes limited by current knowledge is clearly the most robust clinical approach. We could not wish for a better partner in this field than Caris."

 

Dr Mike Hudson, CEO of EDX Medical, said: "EDX Medical and Caris are both pioneer companies unified by their focus on providing doctors with access to the best biological information possible from valuable human samples. We are proud to have been selected by Caris to play a key role in jointly bringing these incredibly useful cancer tumour profiling services to the UK and key areas of Europe."

 

Dr David Spetzler, MS, PhD, MBA, Caris Life Sciences President, said: "Caris is pleased to partner with EDX Medical to distribute our molecular profiling services within the United Kingdom and Nordic countries. This collaboration aligns with Caris' goal of enabling clinicians worldwide to make the best individualised treatment choices for their patients and ultimately helping to improve patient outcomes."

 

The board of directors of EDX Medical plc accepts responsibility for this announcement.

 

Contacts:

EDX Medical Group plc
Dr Mike Hudson (Chief Executive Officer)	[phone]
Oberon Capital
Nick Lovering (Corporate Adviser) Adam Pollock (Corporate Broking) Mike Seabrook (Corporate Broking)	[phone]
Media House International
Ramsay Smith   Gary McQueen	[phone] [e-mail] + 44 (0)7834 694609 [e-mail]
IFC Advisory (Investor Relations)
Tim Metcalfe Graham Herring	[phone]

Notes for Editors:

 

About EDX Medical Group 

EDX Medical Group plc is listed on the Apex Segment of the AQSE Growth Market (TIDM: EDX).

 

EDX Medical was founded by Professor Sir Christopher Evans, OBE, a medical and life sciences entrepreneur with more than 30 years of experience, together with CEO, Dr Mike Hudson.

 

By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to cost effectively improve the detection and characterisation of disease in order to personalise treatment in a timely fashion. Early disease detection and biologically-based personal treatment optimisation is considered to be the most impactful way of reducing deaths and lowering the cost of healthcare globally.

 

EDX Medical Group provides doctors, hospitals and insurers/payers with access to a portfolio of the best clinical diagnostics products and services. The Company operates its own facilities in Cambridge and Oxford, UK, and has strategic product and technology partnerships with organisations such as Thermo Fisher EMEA Ltd, a world leader in supplying life sciences solutions and services.

 

EDX Medical conducts product development, validation and distribution to ISO 13485 and provides PCR and genomic sequencing services accredited to ISO 15189 by the United Kingdom Accreditation Service (UKAS).

 

www.edxmedical.com

 

About Caris Life Sciences

Caris Life Sciences® (Caris) is a leading next-generation AI TechBio company and precision medicine pioneer that is actively developing and delivering innovative solutions to revolutionize healthcare and improve the human condition. Through comprehensive molecular profiling (Whole Exome and Whole Transcriptome Sequencing) and the application of advanced AI and machine learning algorithms, Caris has created the large-scale, multi-modal database and computing capability needed to analyze and unravel the molecular complexity of disease. This convergence of sequencing power, big data and AI technologies provides an unmatched platform to deliver the next generation of precision medicine tools for early detection, diagnosis, monitoring, therapy selection and drug development.

 

Caris was founded with a vision to realize the potential of precision medicine in order to improve the human condition, and we value our employees as much as we do our patients of every creed, colour, sex, sexual orientation and religion. Headquartered in Irving, Texas, Caris has offices in Phoenix, New York, Cambridge (MA), Tokyo, Japan and Basel, Switzerland. Caris or its distributor partners provide services in the U.S., Europe, Asia and other international markets. To learn more, please visit CarisLifeSciences.com.

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