2cureX signs distribution agreement with Labormed in Slovenia

October 5 | 2021

2cureX, a company pioneering the use of 3D tumoroids for drug sensitivity prediction in patients with cancer, announced today that Labormed will bring IndiTreat® products to Slovenian patients and professionals.

2cureX and Labormed have signed an agreement by which Labormed becomes the distributor of IndiTreat® products in Slovenia. Under the terms of the collaboration, Labormed will promote IndiTreat® to Slovenian oncology professionals, sign supply agreements with hospitals and manage the sample logistics between the hospitals and 2cureX labs in Copenhagen.

The announcement comes one week after 2cureX announced the appointment of a distributor in Spain and is a part of the accelerated distributor network expansion described in the Q2 2021 Report.

Approximately 15,000 Slovenes are diagnosed with cancer every year, and there are currently more than 120,000 people with cancer living in Slovenia, according to the Slovenian Cancer Registry.

A great fit for 2cureX

“Slovenia has a solid National Cancer Control Program, and we are sure IndiTreat® can contribute to that program” said Fernando Andreu, CEO of 2cureX. “Labormed is a great fit for us, and we are excited to welcome them to 2cureX. We are looking forward to rolling out IndiTreat® together in their country”.

Labormed is celebrating this year its 30th anniversary. They are a well-established company in the Slovenian market and their portfolio includes several products that are complementary to IndiTreat®, making it a good fit for 2cureX.

“It is important for Labormed to be offering leading-edge products to our customers in Slovenia. We have a strong feeling that functional testing like IndiTreat® will be of high value for the oncologist to determine an individual treatment plan for cancer patients. With IndiTreat® drug sensitivity analysis the oncologist will know which drugs to use on each individual patient” said Robert Sekač, CEO of Labormed.

The benefits of IndiTreat®, regardless of where the patient lives

“Slovenia is a smaller but very interesting European country. For 2cureX it is important to offer the same opportunities to cancer patients regardless of where they live”, said Jesper Floyd Kristiansen, VP Business Development at 2cureX. “With Labormed’s contact network we will be able to develop strong collaborations with the local oncology hospitals and improve the way cancer treatments are selected”.

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 Labormed

Labormed was founded in 1991 and is a 100% family-owned trading company in the field of laboratory equipment, plastic surgery as well as in the diagnostic area. Due to their Stem Cells Technology offering they have a strong connection to the Oncology Institutes – the focus area for 2cureX IndiTreat® tests. Labormed has since its operational start been a strong and recognized player in the field of laboratory and medical equipment as well as diagnostic area.

The company has 6 employees and is able to fulfill all necessary requirements in diagnostic field within registrations, licensing etc. in the Slovenian market.

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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