MDNA Life Sciences, the molecular diagnostics company pioneering the development of liquid biopsy tests based on the mitochondrial genome, announced that it has entered into a license agreement with Phi Life Sciences (Phi).
Under the agreement, Phi is the first US partner to distribute MDNA's proprietary liquid biopsy test for prostate cancer, the Prostate Mitomic Test (PMT™).
"We chose Phi as our first commercial partner to offer PMT™ because of its strong network within the molecular diagnostic space," said Chris Mitton, CEO of MDNA Life Sciences Inc.
"Launching PMT™ with Phi will allow us to quickly build a user base to drive market acceptance and adoption. This valuable partnership will also help with the collection of post-market data for PMT™ to demonstrate clinical utility," he added.
PMT™ is a liquid biopsy test for the early detection of high-grade prostate cancer in advance of biopsy. It is intended for use in men with clinical suspicion of prostate cancer to determine who is likely to have high-grade cancer that may require immediate intervention. PMT's negative predictive value will also be useful in identifying cases that can safely delay or forego immediate biopsy.
Current clinical practice using PSA as a first-line screening tool results in many unnecessary biopsies. PMT™ will significantly aid clinicians in differentiating between men who will benefit from immediate biopsy from those who will not, thus avoiding a costly and invasive procedure.
"We are excited to be the first commercial partner to have access to MDNA's advanced liquid-biopsy test for prostate cancer. PMT™ is a valuable addition to our test portfolio and aligns well with our vision to empower physicians to deliver more precise clinical treatments and diagnoses.
“ PMT™ is unique in the area of prostate cancer diagnostics as it does not rely on the use of PSA or PSA variants, providing our clinicians the ability to evaluate a patient's risk with a new molecular data point," said Sawan Hurst, Chief Executive Officer of Phi Life Sciences.
Phi is a commercialization catalyst for innovation and intends to become the leader in integrated healthcare solutions by providing best-in-class clinical products supported by robust analytics. Phi's mission is to revolutionize traditional medical practice through the application of a broad based suite of molecular diagnostic tests.