2cureX reaches 2022 geographic rollout goal of 20 countries
2cureX, a company pioneering the use of 3D tumoroids for drug sensitivity prediction in patients with cancer, announced today the signature of an IndiTreat® distribution agreement for Switzerland and Austria with pedoc Medical. At the same time, the company unveiled the decision to include Iceland in their Nordic direct operations. IndiTreat is now actively promoted in 20 countries in Europe and the Middle East – reaching the stated geographic rollout goal for 2022.
Entering the attractive Swiss and Austrian IVD markets
2cureX and pedoc Medical have signed an agreement by which pedoc Medical becomes the distributor of IndiTreat® products in Switzerland and Austria. Under the terms of the collaboration, pedoc Medical will promote IndiTreat® to oncology professionals, sign supply agreements with hospitals and manage the sample logistics between the hospitals and the 2cureX labs in Copenhagen.
The combined population of Austria and Switzerland is more than 17.5 million people, and their healthcare systems are amongst the best in Europe. According to Medtech Europe – the IVD medical technology industry association – the average IVD yearly expenditure per capita in the EU + UK + EFTA is 26.4 EUR. Switzerland with 61.1 EUR and Austria with 52.2 are by far the highest two countries in the ranking, followed by Luxembourg with 33.5 EUR.
The agreement has been signed for an initial term of three years, with automatic renewal for successive terms. Sales impact of this agreement is expected to show in 2023.
Improving cancer treatment in the Alps region
“Austria and Switzerland together have over 9,000 new patients diagnosed with colorectal cancer every year. pedoc Medical is a newly established company that will promote IndiTreat® as one of its main products, thus ensuring the necessary commercial focus. The founders have very strong connections to healthcare professionals in both countries and I am looking forward to conducting the training and the first joint customer visits as soon as possible,” says Jesper Floyd Kristiansen, VP Global Business Development at 2cureX.
Expanding direct commercial operations to Iceland
2cureX announced in May that it was taking over commercial operations in Denmark, Norway, Sweden and Germany with the goal to get direct feedback from the markets, develop relationships with Key Opinion Leaders and speed up the activities in the “domestic” markets. Building on that experience, the company has announced that it has added Iceland to the list of direct countries.
While not a big country (200 new colorectal cancer cases per year), Iceland pioneered the era of personalized medicine by conducting the first population-wide genomic studies starting as far back as 1996. More than two-thirds of the total adult population in Iceland were participating in the studies by 2019, and the concept of precision oncology is thus very mature in the country’s healthcare system, which can be very relevant for the adoption of IndiTreat®.
2022 geographic rollout goal achieved
“We have fulfilled our goal of being present in 20 countries by year-end, which means nine new countries were added in 2022,” says Fernando Andreu, CEO of 2cureX. “Making these new countries operational required a significant effort from our team, of which we are proud. Austria, Switzerland and Iceland are important additions to our geographic coverage, and we expect to see development in these countries in the coming months.”
2cureX announced recently that the company will continue its geographic expansion within Europe to reach some important markets where IndiTreat® is not yet present and expects to reach at least 25 countries by the end of 2023.
For more information about 2cureX:
Fernando Andreu, Chief Executive Officer
Telephone: +45 2279 5399
About pedoc Medical
pedoc Medical GmbH is a newly established company located in Zürich, Switzerland.
Their goal is to help patients by bringing the latest non-invasive innovations for prevention and treatments of cancer into the Alps region, and in so doing, they are aiming to improve quality of life of patients and help doctors in their way of decision making, by supporting them with more precise, efficient breakthrough technology and procedures.
pedoc Medical founders are bringing in two decades of experiences in both pharmaceutical and medical devices within the D/A/CH region.
2cureX is a leader in cancer drug sensitivity profiling and has developed the IndiTreat® (Individual Treatment) family of tests. Starting from a sample of the patient’s tumor, IndiTreat® creates thousands of 3D replicas (tumoroids) and predicts the tumor response to the different drugs available, providing the physician with valuable information to make treatment decisions.
The first three IndiTreat® tests are aimed at optimizing treatment decisions in patients with metastatic colorectal cancer – IndiTreat® Start for first line of therapy, IndiTreat® Extend and Explore for third line. Additional tests are under development to cover other stages of colorectal cancer as well as other gastrointestinal cancers.
According to several reports, the total yearly expenditure in cancer-related In Vitro Diagnostic (IVD) tests exceeds 17.5Bn USD worldwide, from which 2.5 Bn USD are tests directly related to therapy decision making, with a CAGR of 12.7%. Despite this, only one third of all cancer treatments are supported by one of these tests. IndiTreat® aims at filling this gap and making Precision Oncology available to all cancer patients.
The company is listed on Nasdaq First North Growth Market in Stockholm (symbol: “2CUREX”).
For more information about 2cureX visit www.2curex.com
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