This Week In Diagnostics

Insight Genetics receives NCI grant

Insight Genetics reported that it has entered into an exclusive worldwide licensing agreement with St. Jude Children’s Research Hospital. The agreement will help the company create a new diagnostic test that will assist physicians in monitoring cancer patients and make more effective treatment selection decisions. Insight Genetics receives licensed rights for mutations in the anaplastic lymphoma kinase (ALK) gene that confer resistance to ALK inhibitors, which has been identified as a cause of a number of cancers. The company has a portfolio of assays that identify select cancer biomarkers and innovative technologies for the detection and monitoring of genetic mutations.

Mirca purchases pathology business from CDx

Miraca Holdings, Japan’s largest clinical diagnostics and laboratory testing service provider, and Caris Life Science announced that they have reached a definitive agreement under which Miraca will acquire the anatomic pathology business operated by Caris Diagnostics, Inc. (“CDx,” a 100% subsidiary of CLS) and its subsidiaries and affiliates for $725 million. The transaction does not include CLS’ Caris Target Now molecular profiling service or Carisome circulating microvesicle technology, currently under development. CDx is a pathology company specializing in gastrointestinal pathology, dermatopathology, hematopathology and urologic pathology services.

FINANCINGS

CV Ingenuity, a privately-held medical device company, has closed a $16 million Series B round of financing led by New Enterprise Associates. Existing investors BioStar Ventures, Synergy Ventures and Western Technology also participated in the round. CV Ingenuity, which is focused on the development of a drug-eluting balloon platform technology that aims to treat peripheral artery disease while also working to prevent restenosis, will use this latest round of funding to accelerate product development and expand their leadership team.

Interrad Medical has raised approximately $10 million in its Series C financing. The funding was raised through a private placement by RBC Wealth Management Group in collaboration with RBC Capital Markets. RBC financial advisors and Interrad executives worked together to raise the funds exclusively from high net worth angel investors. The funds, the company says, will be used to support commercialization and the further development of their SecurAcath device, the only catheter securement device that does not require sutures or adhesives, enabling fast, safe, and continuous securement.

Limestone Fund and TriStar Technology Ventures have formed Diagnovus, LLC, which will be headquartered in Nashville, Tennessee. As part of its creation, TriStar and Limestone completed a seed financing round for the company. Diagnovus, will develop molecular diagnostics targeting rare forms of cancer, including pediatric cancers.