The deal gives SouthGenetics the rights to distribute the assay in Argentina, Bolivia, Chili, Columbia, Ecuador, Mexico, Peru, Dominican Republic, Panama, Paraguay, Uruguay, and Venezuela.

SelectMDx is a urine-based, molecular diagnostic test which is non-invasive ‘liquid biopsy’ method to assess the risk of prostate cancer.

This assay avoids the painful and invasive prostate biopsy procedure and its associated complications and costs.

The product can help in identifying men with increased risk of harbouring aggressive, potentially lethal, prostate cancer, who can benefit from both prostate biopsy and earlier detection.

It can also give out negative predictive value (NPV) of 98% for clinically significant disease and also reduce the unnecessary MRI procedures and invasive prostate biopsies by about 50% and thereby eliminating healthcare costs.

MDxHealth CEO Jan Groen said: "MDxHealth is pleased to have this opportunity to provide SelectMDx testing for patients throughout Latin America through this collaborative agreement with SouthGenetics.

"Helping to improve both the quality of care and outcomes for those suspected of harboring prostate cancer throughout Latin America."