Avantik to Serve as Primary Distribution
Partner
Epredia, a global leader in precision cancer diagnostics and
subsidiary of PHC Holdings Corporation (TSE: 6523), and NovaScan,
Inc., a company that develops breakthrough technology for cancer
detection and stratification, announce that they have signed a
letter of intent for a U.S. exclusive commercial distribution
agreement for MarginScan™, a medical device that will support
physicians in real-time detection of non-melanoma skin cancer.
Epredia has engaged Avantik, a company specializing in supporting
diagnostic labs with their operations, with getting this new device
into the hands of Mohs surgeons.
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MarginScan™ Device for Non-Melanoma Skin
Cancer Detection (Photo: Business Wire)
Skin cancer is the most common group of cancers diagnosed
worldwide1, and it is estimated that one in five Americans will
develop skin cancer in their lifetime2. Non-melanoma skin cancers
(NMSC) are the most common cancers in the United States, affecting
more than 3 million Americans a year3. More than 20 percent of
Americans are expected to develop NMSC before reaching age 70. Most
surgeries for NMSC are simple excisions, which may result in
removal of substantial healthy tissue around the suspected
cancer.
MarginScan™ is designed to address this challenge by supporting
Mohs surgery procedures for skin cancer treatment. Mohs
Micrographic Surgery (MMS) is an operative method used to detect
the presence or absence of a tumor in the margins of a surgical
excision. In an MMS procedure, cancer tissue is excised in stages,
then flash-frozen and assessed histologically in an onsite lab
until clean margins are obtained. Previously, MMS was the only
modality for skin cancer treatment that involved comprehensive
margin assessment during a procedure. MarginScan™ is designed to
use an electrical assessment to confirm cancer-free margins without
the intraoperative histological assessment. This has the potential
to allow for faster excisions that spare more healthy tissue,
leading to improved outcomes for both patients and clinicians.
With this planned agreement, Epredia will serve as the primary
distribution partner of MarginScan™ and will have exclusive
distribution rights in the United States. Along with distribution,
Epredia will be responsible for all marketing and commercial
activities related to the launch and sale of MarginScan™. Epredia
will work closely with Avantik to market and sell the new device to
Mohs surgeons.
MarginScan™ will be the latest addition to Epredia’s world-class
portfolio of precision cancer diagnostics products and services
that provide a seamless end-to-end laboratory workflow, including
slide scanners and printers, cryostats, tissue processors, and
consumables such as slides and reagents. In addition to offering
MarginScan™, Epredia will also provide consumable products that are
used with the device, such as the MarginScan™ electrode and
proprietary electrolytic gel used during excisions.
The two companies anticipate a 2025 U.S. launch for MarginScan™.
This distribution agreement builds on a previous partnership
between NovaScan and PHC Corporation, another subsidiary of PHC
Holdings Corporation that is focused on the development and
manufacturing of innovative medical testing devices. PHC Holdings
Corporation is referred to collectively with its subsidiaries as
PHC Group.
Steven Lynum, President of Epredia, said, “With more than 85
years supporting precision cancer diagnostics, we strive to
continuously serve the changing needs of our customers by working
with innovative companies like NovaScan to deliver the best
solutions. Helping providers make faster, more accurate diagnoses
and ultimately improving patient care is what makes this initiative
so important.”
Craig Davis, CEO of NovaScan, remarked, “NovaScan is thrilled to
be partnering with Epredia to bring MarginScan™ to clinical
healthcare providers in the U.S. We are proud for MarginScan™ to
join Epredia’s portfolio of market-leading cancer diagnostics
products. We believe that MarginScan™ will play an important role
in skin cancer detection and treatment.”
Mark Zacur, CEO of Avantik, added, “Our team is continually
sourcing the best solutions to expand our portfolio of solutions
supporting Mohs clinics with their critical work. We are honored
that Epredia selected Avantik as their partner to bring this
breakthrough device to our network of providers and their
patients.”
About Epredia
Epredia is a global leader in the anatomical pathology field,
providing comprehensive solutions for precision cancer diagnostics
and tissue diagnostics. Powered by key brands, including Erie
Scientific, Menzel-Gläser, Microm, Shandon, and Richard-Allan
Scientific, Epredia’s portfolio includes microscope slides,
instruments and consumables. Epredia was established following the
acquisition of Thermo Fisher Scientific’s Anatomical Pathology
business by PHC Holdings in 2019. Epredia has operations in major
sites in the United States, the United Kingdom, Germany,
Switzerland and China with a total of around 1,200 employees.
Epredia is committed to achieving its mission to improve lives by
enhancing cancer diagnostics for patients around the world. For
further information on Epredia and its products, please visit
www.epredia.com.
About PHC Holdings Corporation (PHC Group)
PHC Holdings Corporation (TSE 6523) is a global healthcare
company with a mission of contributing to the health of society
through healthcare solutions that have a positive impact and
improve the lives of people. Its subsidiaries (referred to
collectively as PHC Group) include PHC Corporation, Epredia,
Ascensia Diabetes Care, LSI Medience Corporation, Mediford, and
Wemex. Together, these companies develop, manufacture, sell and
service solutions across diabetes management, healthcare solutions,
life sciences and diagnostics. PHC Group’s consolidated net sales
in FY2022 were JPY 356.4 billion with global distribution of
products and services in more than 125 countries and regions.
www.phchd.com
About NovaScan
About NovaScan: Based in Chicago, NovaScan (www.novascaninc.com)
is a clinical stage oncology diagnostic and stratification company
that has developed a low cost, point of care platform for real time
cancer detection and stratification. NovaScan’s platform is active
in skin, GI, lung and breast.
About Avantik
Founded in 1971, Avantik specializes in supporting diagnostic
laboratories with maintaining their critical operations. The
company offers a national network of more than 250 engineers,
technicians and service personnel that assist diagnostic labs with
increasing their productivity, enhancing their products and
streamlining their processes. It also manages a comprehensive
inventory of high-quality lab equipment and consumables that it
continually expands to provide labs with new products that advance
their goals for fast and accurate diagnoses. In 2023, Avantik
partnered with Water Street Healthcare Partners, an investment firm
dedicated to building market leaders in health care, to advance its
goals for expansion and building on its legacy as a trusted partner
to diagnostic laboratories. To learn more about Avantik, visit
www.avantik-us.com.
1 Source: World Health Organization. 2 Source: World Health
Organization. 3 Source: American Academy of Dermatology.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502185446/en/
Julia Cottrill PHC Group Corporate Communications
julia.cottrill@phchd.com