Skin cancer technology company wins #1 for audience favorite at the ii6 Summit
Letter from the Publisher: We recently hosted the ii6 Summit Series – V01 at the King Edward in Toronto and had 6 companies present to an InvestorIntel audience of just over 3-dozen people, our next one is Thursday, September 5th. The #1 favorite company, according to those that we surveyed was MedX Health Corp., so we had Matt Bohlsen provide us with an update on this skin cancer technology company.
MedX Health Corp. (TSXV: MDX) is a leading medical device and software company focused on developing and implementing non-invasive, practical, drug-free and cost-effective skin analysis and assessment systems (focused on skin cancers). The Company sells its SIAscopy technology (device) and DermSecure™ telemedicine platform. Additionally, MedX designs, manufactures and distributes quality photobiomodulation devices (lasers) often used for pain management and wound healing, especially in dentistry or where there is tissue damage (ulcers, etc).
SIAscopy device and the DermSecure™ telemedicine platform
Physicians can more accurately evaluate suspicious moles and lesions in a non-invasive, pain-free way by using the SIAscopy skin screening procedure for moles and lesions. By utilizing light, the handheld SIAscopy device can view up to 2 mm beneath suspicious moles and lesions. The DermSecure™ telemedicine platform can then create software enabled real-time images for trained medical professionals to view within seconds, anywhere in the world that is connected online. If you have a suspicious mole or lesion MedX’s technology can reduce wait times to see a dermatologist from up to 16 months down to as little as 72 hours.
MedX health’s SIAscopy device can see up to 2mm beneath the skin
Patients suffering from mucositis or oral ulcerations from head and neck cancer radiation treatment can now be effectively treated with MedX’s light therapy devices
Following the announcement of new guidelines from the Multinational Association of Supportive Care in Cancer and the International Society of Oral Oncology, patients suffering oral ulcerations (and mucositis) caused by head and neck cancer radiation treatment can now be effectively treated with MedX’s light therapy devices. A coalition of researchers and clinicians worldwide have agreed light therapy is among the most effective interventions for the prevention of painful oral ulcers in the mouth and throat resulting from cancer therapy.
Scott Spearn, CEO of MedX noted: “With these new guidelines we expect our devices will help dramatically reduce mucositis.”
The point of this is MedX products are effective and pain free. The Company’s products have been on the market for other conditions, and are FDA cleared and Health Canada licensed for photobiomodulation (PBM) light therapy. MedX’s PBM devices are now already being used in a number of mucositis treatment studies in Canada and the US.
MedX Health’s Photobiomodulation (PBM) light therapy device helps pain and healing
This will represent a significant sales opportunity in Canada and the United States for MedX’s PBM light therapy devices where more than 70,000 head and neck cancers are diagnosed annually. It has been documented that 100% of patients undergoing radiation therapy for these cancers will develop painful oral ulcers, of which many patients report as the worst side effect of their cancer treatment. MedX is expecting sales of their PBM therapy products to accelerate over the following year as they focus on rolling out a marketing campaign within this segment across North America.
Dr. Praveen Arany the President of the World Association for PBM therapy said: “Cancer patients can now benefit from this non-invasive, non-pharmacological treatment for a common, debilitating side effect of treatment. Recent advancements in our understanding of mechanisms of low dose light treatments are enabling rigorous validation of clinical protocols.”
MedX Health also designs, manufactures and distributes quality dental lasers to provide drug-free and non-invasive treatment of tissue damage and pain. These products are Health Canada, FDA (US), ARTG and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union, and Turkey.
Update on distribution agreement to Launch DermSecure™ in Brazil
MedX is now getting closer to final regulatory approval in Brazil which will give the Company access to a 212 million population base, where unfortunately malignant melanoma is often not detected until the later stages. As a reminder, there were over 100,000 cases of skin cancer diagnosed in Brazil between 2016 and 2017, and almost 6,000 were melanomas.
MedX Health Corp. is headquartered in Mississauga, Ontario, Canada; and has a market cap of C$ 16.8 million.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>