ZURICH-SCHLIEREN, Switzerland--(BUSINESS WIRE)--Proteomedix, a Swiss diagnostics company committed to advancing prostate cancer care, announced today that it entered into an agreement for Labcorp, a leading global life sciences company, to be the only laboratory to develop and commercialize the Proclarix^® Prostate Specific Antigen (PSA) test in the U.S.. Proclarix is performed using the same blood sample as a PSA test, and is designed to help determine the risk of clinically significant prostate cancer for men with an elevated total PSA and a digital rectal examination that indicates elevated prostate volume, but who are not suspected of having cancer. In appropriate cases, the test provides a non-invasive alternative to a prostate biopsy, which can have significant side effects.

“We are extremely proud of our new collaboration with Labcorp,” said Helge Lubenow, CEO of Proteomedix, and added: “About 1 in 7 men will be diagnosed with prostate cancer during their lifetimes, and this type of cancer is the most frequent in men and the second deadliest. There is an important unmet medical need for an accurate diagnosis of clinically significant prostate cancer by employing an innovative, simple blood test. The future commercialization of this assay in the U.S. will significantly impact how care and treatment for men with elevated PSAs is managed. We are pleased to work with Labcorp to make this test available to improve care for more men in the U.S.”

“Labcorp is focused on expanding access to innovative diagnostic options like Proclarix,” said Dr. Prasanth Reddy, M.D., MPH, FACP, senior vice president and oncology head at Labcorp. “This test will give patients and providers clear answers to help them make more informed decisions about the most appropriate monitoring and treatment plan for each patient.”

Tungsten Advisors served as the exclusive financial advisor to Proteomedix. Brown Rudnick served as legal counsel to Proteomedix.

Financial and other terms were not disclosed.