Freshmedx today announced a joint venture that will bring life saving technology to over 62 million people in Japan who are at high risk of developing lung cancer. The Salt Lake City, Utah based medical device company has entered into an agreement with a prominent Japanese partnership to co-develop, market, distribute and sell its proprietary Computerized Bioconductance Test (CB Test) in Japan. In the clinic, the CB Test has demonstrated the ability to provide information that helps physicians accelerate life saving diagnosis and therapy or downgrade risk eliminating anxiety and uncertainty. Despite the recent tsunami tragedy, the Company's Japanese partners are anxious to move forward bringing the life saving technology to the resilient Japanese market.
It is estimated that almost 49% of Japan's 127 million people are at high risk of developing lung cancer. The Venture plans to enter into local development to make the non-invasive, cost effective technology available to this group. The Freshmedx CB Test is a totally novel approach that is designed to evaluate suspicious lung lesions when the disease is at its most manageable stage. Currently, millions of people with suspicious lesions wait months or even years for their lesions to grow and be rescanned in order to justify proceeding with a difficult and expensive biopsy.
"We are heartened by the quality of Japan's medical community and the intensity of its interest in stemming costs and bringing more accurate information forward for lung cancer patients," said Steven Eror, President & CEO of Freshmedx. "Our partnership with experienced entrepreneurial leadership and physicians from Japan's medical industry will allow us to help one of the world's growing at-risk populations."
Shige Hashimoto, President and CEO of Freshmedx Japan, leads a seasoned Tokyo- based group who will direct local development efforts.
"With Freshmedx we found an ideal partner and the ideal technology," said Mr. Hashimoto. "This joint venture offers an excellent strategic fit."
ABOUT FRESHMEDX
Freshmedx is a private, Utah-based company focused on development, manufacturing, marketing and sales of non-invasive medical diagnostics for life-threatening disease. Freshmedx's initial target is to evaluate suspicious lesions of the lung for better risk management for lung cancer patients. For more information: www.freshmedx.com.
Contacts:
Freshmedx
Public Relations
Catherine Garff
801-599-5224
CEG@freshmedx.com
