2cureX reaches the goals for the 2021 rollout plan

December 13 | 2021

2cureX announced today it has reached its goals for the 2021 rollout plan with the signature of distribution agreements with two companies of the Diamedica OU Group, to promote and sell the IndiTreat® tests in Latvia and Lithuania.

2cureX has signed two agreements with Diamedica Latvia and Diamedica Lithuania, making them distributors of IndiTreat® products in their respective countries. The companies will promote IndiTreat® to oncology professionals, sign supply agreements with hospitals and manage the sample logistics between the hospitals and 2cureX labs in Copenhagen.

The announcement follows previous statements by 2cureX about the European distributor network rollout (Q2 2021 Report).

Believing in personalized cancer treatment

“Diamedica Latvia is a leading and valued partner for all Oncology Hospitals in the country. Now, offering IndiTreat®, we stay ahead in offering the most advanced tools to optimize cancer treatments” said Aksels Kaimins, Board member from Diamedica Latvia

“At Diamedica Lithuania we firmly believe that every single mCRC patient should receive a personalized treatment to increase their life expectancy, therefore we are glad to introduce IndiTreat® in our country” stated Stasys Krizanauskas, General Director of Diamedica Lithuania.

The Baltics – small but important markets

“Through our cooperation with Diamedica we get fast access to important decision makers in the Baltics. There is a close relation between the Baltic countries and Denmark, and we are glad to offer to patients and oncologists in these two countries the benefits of the information provided by the IndiTreat® test” said Jesper Floyd Kristiansen, VP Business Development at 2cureX.

Plan completed

“We welcome Diamedica Latvia and Lithuania to the 2cureX family and are glad to see they share our excitement about IndiTreat®. With these two agreements, we have secured distribution of IndiTreat® in 11 countries, covering more than 20% of the European population. We have therefore reached the ambitious goals for the 2021 rollout plan described in the Q2 report, and we stand on the threshold of a very exciting 2022 thanks to our strengthened commercial organization”, said Fernando Andreu, CEO of 2cureX.

The agreement has been signed for an initial term of three years, with automatic renewal for successive terms. Other terms of the agreement have not been disclosed. Sales impact of this agreement is expected to show in 2022.

About Diamedica

For more than 24 years, UAB Diamedica, Lithuania has been the trusted partner and bridge to innovations, flexible, cost-effective, and ergonomic solutions. The company belongs to Diamedica, the largest medical diagnostics group in the Baltics. We are constantly searching, introducing, innovating, and striving to be of value to our partners.

Diamedica is constantly expanding and improving the product range to meet the needs of customers. Our strong focus in for a vision that diagnostic medicine must be very close to a patient, enables us to be at the forefront of our field in an ever-changing environment, to be at the forefront of new areas and new opportunities. We set clear goals and focus all our efforts, attention, and energy on them.

Diamedica Latvia started in 1993 and employs 21 people in sales, service, logistics and administration, and 3 more in the IT group (LIS software).

About 2cureX

2cureX is a leader in cancer drug sensitivity testing 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 available drugs, providing the physician with valuable information to make the treatment decisions.

The first IndiTreat® test is aimed at optimizing treatment decisions in patients with metastatic colorectal cancer facing their third line of therapy. 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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