Molecular Diagnostics Company Predictive Biosciences Buys OncoDiagnostic Laboratory

(Lexington, MA, USA), a company developing novel biomarker-based noninvasive diagnostic assays for informed cancer management, has acquired OncoDiagnostic Laboratory Inc. (ODL; Cleveland, OH, USA). The terms of the transaction were not disclosed. With the acquisition of ODL, Predictive Biosciences is expected to reduce launching times of its cancer assays; the company has more than two decades of research, development, and commercialization experience in diagnostics and applied genomics.

ODL is a privately owned, Clinical Laboratory Improvement Act (CLIA)-certified pathology and molecular diagnostics lab. The company has developed a subspecialty for providing cancer pathology services to hundreds of urology practices throughout the United States.

Despite possessing a commercial platform and sales force, ODL only recently introduced diagnostic and prognostic molecular tests for cancer. Predictive Biosciences will provide its expertise in noninvasive tests to broaden ODL's disciplines. During 2010, Predictive intends to start selling a urine biomarker assay to detect bladder cancer.

Joseph Galang, ODL's chief executive and son of founder Cirilo Galang, said, "We are very enthusiastic about this merger and the pioneering work that Predictive is doing to improve the diagnostic tools available to physicians."

Related Links:
Predictive Biosciences Inc.
OncoDiagnostic Laboratory Inc.