WEST PALM BEACH, FL / ACCESSWIRE / September 5, 2019 / MDNA Life Sciences Inc. (MDNA), the molecular diagnostics company revolutionizing the development of liquid biopsy biomarkers based on the mitochondrial genome, announced today that it has appointed Shuwen Biotech Co. Ltd., a leader in developing and offering innovative diagnostic and personalized medicine products in China, as the exclusive license partner for the Mitomic® Prostate Test (MPT™) in China. On the heels of recent news that MDNA’s CE marked MPT™ Real-Time PCR kit is being made available through another 9 business partners covering 25 countries, this agreement is a key part of the global roll-out of MPT™ through a growing network of license partners and distributors.
The test needs only a simple blood sample to be taken which is then processed in a clinical laboratory using MDNA’s proprietary Mitomic® Technology. MPT™ is the world’s first blood test to use a unique biomarker that is independent of PSA and age and to be made available in a simple real-time PCR format. The test delivers unparalleled performance for the detection of clinically significant prostate cancer.
Currently, prostate cancer screening is heavily reliant on the measurement of PSA levels, which can give notoriously high false-positive results. This leads to millions of men being wrongly referred for prostate biopsy. With a 92% sensitivity, MPT™ can accurately determine whether clinically significant prostate cancer is present, so men can be referred for immediate medical intervention. MPT™ also has a higher than 99% negative predictive value which means that men with a negative MPT™ result can safely delay or avoid an invasive prostate biopsy as there is a very low probability that significant cancer would be found.
“We are proud to announce our new partnership with Shuwen and are excited to be working with their experienced team. Shuwen’s track record of success in molecular diagnostics, strong relationships with key hospitals and urologists, and extensive regulatory expertise in China make them an ideal business partner for us in this strategic market.” said Chris Mitton, CEO of MDNA Life Sciences. “The forthcoming launch of MPT™ with Shuwen will further expand access to our novel technology and bring significant advances to the way clinicians in China approach prostate cancer screening.”
Shuwen’s Chairman and CEO, Jay Z. Zhang, M.S., J.D., added “At Shuwen, we strive to be the preferred partner in China for innovative diagnostic companies and leading technologies. We are proud that MDNA chose Shuwen as their partner of choice for MPT™ in China. MPT™’s leading test performance will fill an important gap in prostate cancer screening and diagnosis in China.”
Reinhard Oesterle, Partner at Crosswave Management which specialises in linking innovation hubs around the world with Greater China markets, and advised MDNA on its approach to the Chinese market, said “We are impressed by the breadth of MDNA’s pipeline and are proud to assist the company in establishing their presence in China. The collaboration with Shuwen is the first step in this endeavor”
About MDNA Life Sciences Inc.
MDNA Life Sciences Inc. – www.mdnalifesciences.com – is leading the development of molecular diagnostic tests using its proprietary Mitomic™ Technology platform that exploits the unique biological characteristics of mitochondrial DNA. This innovative platform is a highly effective system for biomarker discovery, early disease detection, monitoring, risk assessment and therapeutic targeting. It has led to the discovery of numerous novel and proprietary biomarkers for a multitude of cancers and other diseases.
The Company is applying its expertise in mitochondrial genomics to develop an extensive and proprietary portfolio of blood-based molecular tests for conditions that are currently dependent on poor or absent screening tests or invasive procedures for detection. Following the successful development of the prostate test, work on tests for endometriosis and ovarian cancer is at an advanced stage and biomarkers have been identified for other cancers such as lung, breast, uterine, cervical, bladder, colorectal, and melanoma.
About Shuwen Biotech
Based in China and led by diagnostic industry veterans from the US and Europe, Shuwen Biotech is an integrated diagnostic company engaged in licensing, developing, marketing and distributing innovative diagnostic products and services. Founded on the principles of innovation, patent protection, and international collaboration as its strategic platforms for growth, Shuwen strives to deliver transformational diagnostic products and services in cancer, women’s health, critical care, and health screening to its customers in China and globally and open new possibilities in the advancement of health.
About Crosswave Management
Crosswave Management is a cross-border venture capital, early stage incubation and advisory firm. Partnering with western companies to bring innovative technologies and products to the rapidly growing Chinese healthcare market, Crosswave establishes, invests in, raises capital for, and manages life science ventures in China. Based in San Francisco and Shanghai, Crosswave was founded by veteran life science investors and senior executives with decades of experience in both China and innovation hubs around the world.
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SOURCE: MDNA Life Sciences Inc.
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