At the Aquas Exchange event in London, we had the pleasure of speaking with Mike Hudson, CEO of EDX Medical Group plc (AQSE:EDX), about the company’s mission and its role in revolutionising healthcare. In this interview, Hudson discusses the company’s innovative approach to personalised medicine, their focus on cancer diagnostics, partnerships, and future growth. Here’s what he had to share:
Q: Could you give us a concise summary of what EDX Medical stands for and what the company offers to the healthcare sector?
A: “We deliver a portfolio of digitally enabled diagnostic products. By combining advanced biology with cutting-edge digital technology, we provide doctors with secure, accessible data to make faster, more accurate decisions—whether they’re at a hospital or bedside.”
Q: How are EDX Medical’s products making a difference in real-world healthcare scenarios, particularly when it comes to improving patient outcomes?
A: “In real-world scenarios, it starts with drug safety. Prescribing involves complex decision-making, and errors can have costly consequences. By understanding a patient’s biology early on, we mitigate risks. Early detection also maximises time for better outcomes. Finally, our diagnostic tools ensure patients receive the right treatment the first time, minimising guesswork and improving care.”
Q: Can you share more about the innovative tools your team is developing and how they simplify the diagnostic process for healthcare professionals?
A: “Our team is working on multi-functional tools. Imagine a product equivalent to 20 lateral flow tests in one device, readable by a mobile phone. These future-ready products are closer than people think.”
Q: Cancer diagnostics is clearly a significant focus for EDX Medical. How is your multi-omic approach transforming the way oncologists diagnose and treat cancer?
A: “We’re addressing cancer waiting lists by employing a multi-omic approach, which integrates DNA, RNA, and protein data to provide a holistic view of a patient’s biology. This ensures oncologists can make informed decisions quickly, often under intense time pressure.”
Q: How do partnerships with companies like Thermo Fisher play a role in advancing EDX Medical’s goals and product development?
A: “Our focus is on expanding our portfolio and partnerships. For example, our collaboration with Thermo Fisher, a leading provider of laboratory instrumentation, is instrumental in translating laboratory findings into market-ready products.”
Q: What can you tell us about EDX Medical’s business model? How do you balance generating revenue while building long-term shareholder value?
A: “We recently transitioned into revenue generation by partnering with companies possessing extensive clinical data. These collaborations enable us to launch validated products immediately, while developing more advanced solutions for specific diseases.”
Q: You mentioned the dual focus on service laboratories and scalable products. Could you elaborate on how these elements complement each other in your strategy?
A: “We run a service laboratory in Oxford and Cambridge, offering immediate diagnostic services to UK patients. At the same time, we refine this expertise into scalable products, which will eventually allow other laboratories to replicate our findings globally.”
Q: What are the next big milestones for EDX Medical in the coming months, and where do you see the company heading in the near future?
A: “With 80% of our foundations now in place, we expect significant growth in our commercial activities and revenue streams. Our expanded commercial team is now delivering products to healthcare clients, including doctors, hospitals, and insurers. By the end of the year, we aim to complete our portfolio and accelerate revenue growth.”
Q: How have you found today’s event at the Aquas Exchange? Has it met your expectations in terms of engagement and activity?
A: “It’s been a busy day, but it’s great to see so many British companies actively making and selling innovative products. Events like this, especially after the uncertainty of recent years, seem to signal a renewed confidence in the market.”
Q: With healthcare and technology being key topics of discussion, how do you see these areas influencing the industry today?
A: “For companies like ours, healthcare and technology are high on the agenda, especially with advancements in AI, new medicines, and diagnostic tests designed to expedite patient care. It’s an exciting time to be involved.”
EDX Medical Group plc, established in 2021 and headquartered in Cambridge, UK, is a publicly listed company on the Aquis Stock Exchange (AQSE) Growth Market. The company specialises in developing digitally enabled diagnostic products and services aimed at enhancing the detection and characterisation of major diseases, thereby facilitating personalised treatment and improving patient outcomes.
