MdxHealth (TM) : MDxHealth Completes €18 Million ($24M) Equity Raise
LIEGE, BELGIUM - June 25, 2013 - MDxHealth SA (NYSE Euronext: MDXH), a leading
molecular diagnostics company that develops and commercializes epigenetic
tests to support the diagnosis and treatment of cancer patients, announced
today that it successfully raised an aggregate amount of €18 million in a
private placement through the issuance of 8,737,683 new shares at a
subscription price of EUR 2.06 per share (which represents the average closing
price of the company's shares during the 30 preceding calendar days). Certain
funds managed by Valiance Asset Management Ltd participated in the private
placement for a total amount of 4,368,932 new shares and Biovest Comm. VA, the
investment company of Rudi Mariën, participated in the private placement for a
total amount of 2,427,184 new shares. The remaining 1,941,747 new shares were
underwritten by Petercam who acted as sole lead manager in the transaction,
and will be placed with a limited group of investors.
The net proceeds of the private placement will be used to support and scale-up
the Company's U.S.-based CLIA-registered commercial laboratory, its US-based
sales and marketing efforts, European and global commercial efforts for its
Clinical Molecular Diagnostics (ClinicalMDx) and Pharmaco Molecular
Diagnostics (PharmacoMDx) solutions and services to clinicians and
pharmaceutical customers, and to accelerate proprietary product development.
The 1,941,747 new shares underwritten by Petercam with the view to be placed
with investors are expected to be admitted to listing on NYSE Euronext
Brussels immediately following their issuance. The other new shares are
expected to be listed in the near future following the approval and
publication of a listing prospectus.
"This financing marks a major milestone in the growth and success of our
Company," stated Dr. Jan Groen, CEO of MDxHealth. "In response to the
increasing demand for our ConfirmMDx^TM for Prostate Cancer test in the U.S.,
we will expand our commercial efforts by investing in personnel and
infrastructure to ensure we are well positioned for new tests emerging from
our product pipeline. We will also use proceeds to further emphasize our
global commercialization efforts, offering our cutting edge products and
services to clinical and pharmaceutical customers, with the goal of
accelerating and diversifying our revenue base."
MDxHealth is a molecular diagnostics company that develops and commercializes
advanced epigenetic tests for cancer assessment and the personalized treatment
of patients. The Company's first commercial product, ConfirmMDx^TM for
Prostate Cancer, has been shown to help distinguish patients who have a
true-negative biopsy from those who may have undetected cancer. MDxHealth
helps to address a large and growing unmet medical need for better cancer
diagnosis and treatment information. The company has a proprietary platform
and a strong epigenetic product pipeline focused on the development of
products for prostate, brain and lung cancers. The company is based in Irvine,
California with a European headquarters in Liege, Belgium. For more
information visit MDxHealth's website at www.mdxhealth.com.
For more information: Mike Sinclair Seth Lewis
Dr. Jan Groen, CEO Halsin Partners The Trout Group
MDxHealth UK: +44 20 7318 2955
US: +1 949 812 6979 Cell: +44 7968 022075 US: +1 646 378 2952
BE: +32 4 364 20 70 email@example.com firstname.lastname@example.org
This press release contains forward-looking statements and estimates with
respect to the anticipated future performance of MDxHealth and the market in
which it operates. Such statements and estimates are based on assumptions and
assessments of known and unknown risks, uncertainties and other factors, which
were deemed reasonable but may not prove to be correct. Actual events are
difficult to predict, may depend upon factors that are beyond the company's
control, and may turn out to be materially different. MDxHealth expressly
disclaims any obligation to update any such forward-looking statements in this
release to reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based unless required by law or regulation. This press release does not
constitute an offer or invitation for the sale or purchase of securities or
assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be
offered or sold within the United States without registration under the U.S.
Securities Act of 1933, as amended, or in compliance with an exemption
therefrom, and in accordance with any applicable U.S. securities laws.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx and PredictMDx are trademarks
or registered trademarks of MDxHealth SA. All other trademarks and service
marks are the property of their respective owners.
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information contained therein.
Source: MdxHealth (TM) via Thomson Reuters ONE
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