Signal Genetics Expands Oncology Pipeline with Acquisition of ChipDX
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By LabMedica International staff writers Posted on 14 Feb 2012 |
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Signal Genetics (New York, NY, USA), a company focused on personalized medicine for cancer patients, will purchase all the assets of ChipDX (New York, NY, USA). As part of the transaction, Signal Genetics will acquire BreastGeneDX, ColonGeneDX, and LungGeneDX, all diagnostic and prognostic tests in development by ChipDX.
Ryan VanLaar, PhD, CEO, and founder of ChipDX, will join Signal as head of bioinformatics. Financial details of the transaction were not disclosed.
The genetic tests represent novel products or improvements over other products currently on the market for lung, breast, and colon cancers. Signal will acquire ChipDX’s web-based interface, which will be used to enhance Signal’s physician web portal and allow for remote interpretation of test algorithms.
The acquired tests will leverage the technology platform currently in use by Signal Genetics and its subsidiaries and will provide economies of scale to the company’s currently commercialized multiple myeloma prognostic test, MyPRS Plus. The company will also use its recently established sales team as well as its commercial partners to launch the acquired products.
Ryan van Laar, CEO and founder of ChipDX, LLC, said, “Joining forces with Signal Genetics provides us with a vehicle to ultimately commercialize our strong portfolio of predictive molecular diagnostic tests. I look forward to leveraging the experience gained in the development of ChipDX to help Signal Genetics achieve its goals, and ultimately improve patient outcomes.”
Related Links:
Signal Genetics
ChipDX
Ryan VanLaar, PhD, CEO, and founder of ChipDX, will join Signal as head of bioinformatics. Financial details of the transaction were not disclosed.
The genetic tests represent novel products or improvements over other products currently on the market for lung, breast, and colon cancers. Signal will acquire ChipDX’s web-based interface, which will be used to enhance Signal’s physician web portal and allow for remote interpretation of test algorithms.
The acquired tests will leverage the technology platform currently in use by Signal Genetics and its subsidiaries and will provide economies of scale to the company’s currently commercialized multiple myeloma prognostic test, MyPRS Plus. The company will also use its recently established sales team as well as its commercial partners to launch the acquired products.
Ryan van Laar, CEO and founder of ChipDX, LLC, said, “Joining forces with Signal Genetics provides us with a vehicle to ultimately commercialize our strong portfolio of predictive molecular diagnostic tests. I look forward to leveraging the experience gained in the development of ChipDX to help Signal Genetics achieve its goals, and ultimately improve patient outcomes.”
Related Links:
Signal Genetics
ChipDX
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