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May 17, 2006
MDX Licenses AVID Technology to Japanese Company
Vancouver, BC - (May 17, 2006) MDX Medical Inc. (TSX.V: MDX) announced today a licensing agreement with Advanced Radiation Devices, Inc. (ARD) of Japan, for global distribution and marketing of MDX's AVID System. Terms of the agreement, which are confidential, include an upfront licensing fee and ongoing royalty payments based on ARD's sales of the AVID software and phantom. The AVID System is a sophisticated quality assurance system for radiation therapy which provides a "turn-key" solution for verification of complex radiation treatment plans prior to treating patients.
Barry Allen, President and CEO of MDX, commented "This licensing agreement with ARD maximizes our previous investment in AVID, and allows MDX Medical to focus its efforts on the commercialization of its NIRS technology for the urology marketplace".
About MDX Medical
MDX Medical Inc. (MDX-V) is an early stage medical device Company focused on the development and commercialization of breakthrough diagnostic technology for bladder conditions specifically Urinary Incontinence. MDX is currently developing a family of non-invasive diagnostic and monitoring technologies for these conditions which affects over 28M North Americans. For more information about MDX, please visit our website at: www.mdxmedical.com.
On behalf of the Board,
"Barry Allen"
President & CEO
MDX Medical Inc.
Certain information contained in this press release may be forward looking and is subject to unknown risks, which could cause actual results to differ materially from those, set forth or implied herein. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove correct.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Barry Allen
Email: ballen@urodynamix.com |
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