We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us
INTEGRA BIOSCIENCES AG

Download Mobile App




Events

09 Apr 2024 - 12 Apr 2024
15 Apr 2024 - 17 Apr 2024
23 Apr 2024 - 26 Apr 2024

American Genomics Company Enters the Indian Cancer Diagnostics Sector

By LabMedica International staff writers
Posted on 26 May 2014
Print article
An American DNA-based diagnostics company has announced the acquisition of an Indian genomics services provider and molecular kit manufacturer in a move that is expected to open doors into the enormous Indian genomics clinical and research markets.

Cancer Genetics, Inc. (Rutherford, NJ, USA), has announced the purchase of BioServe Biotechnologies (India) Pvt. Ltd. (Hyderabad, India) for approximately 1.9 million USD.

BioServe India's status as a state-of-the-art genomics services provider serving both the research and clinical markets is expected to allow it to be a major contributor to Cancer Genetics' push to become a world leader in the field of DNA-based cancer diagnostics.

Under terms of the purchase agreement Cancer Genetics will retain all 33 current employees of BioServe India, and intends to further expand and strengthen its sales and clinical teams. BioServe India will be headquartered in a state-of-the-art 1,300-square-meter genomics facility in Hyderabad, but will become a subsidiary of Cancer Genetics, and will be renamed Cancer Genetics India Pvt. Ltd.

The new company has the infrastructure and scientific expertise required to incorporate Cancer Genetics' DNA probe manufacturing and proprietary FHACT (FISH-based HPV-Associated Cancer Test) test into the Indian market, which represents more than 25% of the global deaths attributed to cervical cancer. FHACT is a noninvasive genomic test that augments the classical Pap smear by identifying cancer and precancerous lesions caused by persistent HPV infection.

"With Bioserve, Cancer Genetics will become better positioned to increase our global presence in personalized cancer care and further improve outcomes and lower costs for cancer patients," said Panna Sharma, CEO of Cancer Genetics, Inc. "The BioServe India team adds immediate positive impact, high-quality revenue, and provides a clear path to an accretive deal for shareholders. The infrastructure and enhanced capacities in next generation sequencing for oncology accelerate our development plans while positioning us to make more effective use of our capital. Another important driver for the transaction with BioServe India was the world-class management and R&D team that is currently in place, as well as a company culture that fits in well with Cancer Genetics. We believe that this type of deal can serve as a blueprint for future acquisitions and accelerate the delivery of shareholder value."

Related Links:

Cancer Genetics, Inc.
BioServe Biotechnologies (India) Pvt. Ltd.


Platinum Member
COVID-19 Rapid Test
OSOM COVID-19 Antigen Rapid Test
Specimen Collection & Transport
Anti-Cyclic Citrullinated Peptide Test
GPP-100 Anti-CCP Kit
New
Gold Member
Systemic Autoimmune Testing Assay
BioPlex 2200 ANA Screen with MDSS

Print article

Channels

Clinical Chemistry

view channel
Image: Reaching speeds up to 6,000 RPM, this centrifuge forms the basis for a new type of inexpensive, POC biomedical test (Photo courtesy of Duke University)

POC Biomedical Test Spins Water Droplet Using Sound Waves for Cancer Detection

Exosomes, tiny cellular bioparticles carrying a specific set of proteins, lipids, and genetic materials, play a crucial role in cell communication and hold promise for non-invasive diagnostics.... Read more

Molecular Diagnostics

view channel
Image: MOF materials efficiently enrich cfDNA and cfRNA in blood through simple operational process (Photo courtesy of Science China Press)

Blood Circulating Nucleic Acid Enrichment Technique Enables Non-Invasive Liver Cancer Diagnosis

The ability to diagnose diseases early can significantly enhance the effectiveness of clinical treatments and improve survival rates. One promising approach for non-invasive early diagnosis is the use... Read more

Hematology

view channel
Image: The low-cost portable device rapidly identifies chemotherapy patients at risk of sepsis (Photo courtesy of 52North Health)

POC Finger-Prick Blood Test Determines Risk of Neutropenic Sepsis in Patients Undergoing Chemotherapy

Neutropenia, a decrease in neutrophils (a type of white blood cell crucial for fighting infections), is a frequent side effect of certain cancer treatments. This condition elevates the risk of infections,... Read more

Pathology

view channel
Image: The OvaCis Rapid Test discriminates benign from malignant epithelial ovarian cysts (Photo courtesy of INEX)

Intra-Operative POC Device Distinguishes Between Benign and Malignant Ovarian Cysts within 15 Minutes

Ovarian cysts represent a significant health issue for women globally, with up to 10% experiencing this condition at some point in their lives. These cysts form when fluid collects within a thin membrane... Read more
Copyright © 2000-2024 Globetech Media. All rights reserved.