(Alliance News) - EDX Medical Group PLC on Monday said it is performing "very strongly" and that it is now implementing its distribution of the Guardant360 CDx and Guardant Reveal tests to the UK private healthcare sector.

EDX Medical is a Cambridge, England-based company that develops digital diagnostic products and services to treat cancer, heart disease, and infectious diseases.

The company attributed its strong trading to its acquisitions of Torax Biosciences Ltd and Hutano Diagnostics Ltd in 2023, as well as its "significant" commercial agreements with Guardant Health Inc and Thermo Fisher.

This brought EDX into "revenue generating operations" in the final quarter of 2023 and helped accelerate its development pipeline.

Going forward, EDX looks at the upcoming year with "considerable confidence", and said it expects continued growth.

Additionally, EDX said it is now implementing the distribution agreement for Guardant Health's blood-based liquid biopsy tests in certain market sectors in the UK, and will be expanding into the Nordic countries where it has exclusivity.

"These tests are already being used by doctors to help get fast, accurate and reliable diagnostic information on the health status of their patients," EDX said.

Back in October, EDX announced it had entered a strategic agreement with Guardant Health to distribute its blood-based liquid biopsy tests in the UK and the Nordics.

The tests are for genomic testing in advanced cancer and residual disease and recurrence detection in early-stage cancer.

Under the deal, it was agreed that EDX Medical will also distribute Guardant360 CDx in the public and private sectors in Sweden, Denmark, Norway, Finland and Iceland. It will provide a local service, including optional home-based blood sample collection.

Shares in EDX were up 3.5% at 7.50 pence each in London on Monday afternoon.

By Sabrina Penty, Alliance News reporter

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