MedX set to help the early detection of skin cancer in Brazil
Skin cancer can be defined as the abnormal growth of skin cells and is often developed on skin exposed to the sun. Melanoma is the most serious type of skin cancer and it develops in the cells that produce melanin (the pigment that gives your skin its color). The exact cause of all melanomas isn’t clear, but exposure to ultraviolet (UV) radiation from sunlight increases your risk of developing melanoma. What is clear is that early detection and treatment can save lives.
Worldwide more than 3 million non-melanoma skin cancers and 150,000 melanoma skin cancers are diagnosed each year. One in every three cancers diagnosed is a skin cancer.
MedX Health Corp. (TSXV: MDX) is a medical company that develops, manufactures, and distributes state-of-the-art phototherapy medical devices for pain relief, wound healing, and diagnosis. MedX is focused on skin cancer with its DermSecure™ telemedicine platform, utilizing its SIAscopy technology. SIAscopy is a skin imaging technology that is used to scan suspicious moles and lesions, in a non invasive, pain-free way. Utilizing light the SIAscopy technology can view up to 2 mm beneath suspicious moles and results can be viewed via a PC to then help determine if further diagnosis is warranted. The product is cleared for use in Canada as well as in the US, Australia, New Zealand, the European Union and Turkey.
DermSecure™ telemedicine platform, utilizing its SIAscopy imaging technology
In 2018 MedX launched the Company’s ground-breaking DermSecure™ telemedicine platform. DermSecure™ makes MedX’s rapid skin cancer assessment solution commercially scalable on a global basis.
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DermSecure™ platform MOU in the Netherlands
In 2018 MedX announced a MOU to work with a Dutch consortium of companies that specialize in cancer screening, and through their network have access to more than 4,500 physicians. This MOU enables the DermSecure™ platform to offer skin cancer screening services throughout the Netherlands.
MedX CEO Scott Spearn stated: “We expect significant annual revenue from this partnership over the ensuing years.”
MedX’s DermSecure™ telemedicine platform exclusive distribution agreement in Brazil with Vida
On April 9, 2019 an exclusive distribution agreement with CBD Vida was announced to launch a comprehensive ease of-access skin scanning/assessment program throughout Brazil, using MedX’s DermSecure™ telemedicine platform. Vida’s reach in the Brazilian marketplace is robust and extensive, and they have agreed to pay for all regulatory, marketing and distribution expenses related to the launch.
Scott Spearn, President & CEO of MedX noted: “The agreed performance levels on the part of Vida further reinforce their commitment to the commercial success of this agreement.”
With an overall survival rate lower than worldwide statistics, Brazilian physicians have taken to the streets and beaches of Brazil in the fight against skin cancer, setting up thousands of mobile clinics in tents at beaches and town squares for a skin check and to learn more about how to prevent skin cancer. MedX’s rapid skin cancer assessment solution is just what the cancer clinics of Brazil need. Over 100,000 cases of skin cancer were diagnosed in Brazil between 2016 and 2017, and almost 6,000 were melanomas.
MedX’s DermSecure™ platform just might be the huge game changer that physicians are looking for in cancer prevention in Brazil.
Camata Candello, Vida’s CEO added: “MedX’s DermSecure™ is a perfect solution for early detection of skin cancer. We are deeply aligned with the largest distributors of hospital equipment in Brazil.”
Photobiomodulation (“PBM”) medical devices
MedX’s original products, photobiomodulation (“PBM”) medical devices, use light energy in lower-level lasers and LEDs to provide effective treatment offering rapid, drug-free and non-invasive healing in the rehabilitation and dental markets, treating pain, tissue damage, swelling and inflammation. The Company has sold thousands of these products to clinical practitioners, academic facilities, hospitals, long-term care facilities, and to athletes and sports teams.
MedX also designs, develops and distributes laser medical devices
The global market for photobiomodulation and skin cancer diagnosis is huge. With early detection of skin cancer the majority of skin cancer related deaths are preventable, which means MedX should see continuing upside for their technology.
MedX is steadily making progress with their innovative niche product range and distribution agreements already developing in the Netherlands and Brazil. I would expect MedX to be announcing more distribution agreements in countries that suffer high rates of skin cancer in the near future. For example, New Zealand and Australia have the two highest rates of skin cancer in the world. Clearly the Netherlands and Brazil deals will only be the first signs of many great things to come for MedX.
Matthew Bohlsen holds a Graduate Diploma in Applied Finance and Investment (similar to CFA), and a Graduate Diploma in Financial Planning. He has 30 years ... <Read more about Matthew Bohlsen>