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In Brief This Week: Genomic Vision, LabCorp, TriLink, and More

NEW YORK (360Dx) – Genomic Vision announced this week that it has received a second payment from Quest Diagnostics related to the companies' collaboration for the development of new biomarkers to improve the genetic detection of spinal muscular atrophy. The company declined to disclose the amount of the payment.

The two firms originally inked a collaboration in 2011. A first milestone payment was made at the end of 2017, Genomic Vision said. In March, the companies extended their collaboration and commercialization deal. The goal of the second milestone was to perform complementary experiments and analysis on existing samples to identify smaller biomarkers for SMN1 cis-duplication, potentially leading to an SMA diagnostic test, Genomic Vision said. During the second phase of the collaboration, seven new patterns were identified as potential new biomarkers for SMN1 cis-duplication, including three with a size below 100 kb.

Laboratory Corporation of America announced this week that for the period of Sept. 11, 2018 to March 8, 2019, its Zero Coupon Convertible Subordinated Notes due 2021 will, subject to their terms, accrue contingent cash interest at a rate of no less than .125 percent of the average market price of the notes for the five trading days ended Sept. 6, 2018, in addition to continued accrual of the original discount. Contingent cash interest, which LabCorp has determined to be approximately $2.89 per note, will be payable to holders of the notes as of the record date, which is Feb. 22, 2019. The payment of contingent cash interest is expected to be made on March 8, 2019.

TriLink BioTechnologies — a maker of custom oligonucleotides and modified nucleic acids for use in research, diagnostics, and therapeutics — said this week that it plans to consolidate its San Diego facilities into a new 95,000-square-foot space with an option to expand for future growth. The new facility, also based in San Diego, will house TriLink's local staff of more than 150 but can also accommodate growth to more than 350 R&D, commercial, and manufacturing employees, the firm said this week. Its parent firm Maravai LifeSciences will also relocate its corporate headquarters to the new facility. TriLink will begin its move in the fall of 2019 and expects to complete it by the end of that year.

Computational pathology company SpIntellx said this week that it closed on a seed financing round led by Newlin Investment. The company did not disclose the amount of the financing, which will be used to launch SpIntellx as it pursues strategic partnerships and further validation studies. SpIntellx is using its proprietary artificial intelligence technologies to develop computational tools based on spatial analytics, and its products in development include HistoMapr and TumorMapr.

HistoMapr is a computation guide for pathologists that automatically recognizes and classifies regions of interest in hematoxylin and eosin-stained and/or immunohistochemistry slides. It can be used to improve the accuracy and efficiency of analysis and diagnostic decision-making by pathologists. TumorMapr is used to analyze spatial interactions within whole-slide images using multiplexed fluorescence to predict patient outcomes and provide personalized therapeutic strategies and generate evidence for prognostic and companion diagnostic development.

HonorHealth Research Institute this week joined Caris Life Sciences' Precision Oncology Alliance, which currently has 25 academic, hospital, and community-based institutions. The alliance will use Caris' comprehensive genomic profiling plus tumor profiling service called Caris Molecular Intelligence to identify therapy options and clinical trial opportunities based on the unique molecular characteristics of a patient’s tumor. The goal of the alliance is to develop standards of care and best practices for applying tumor profiling and making cancer treatments more precise and effective.

Proteomics International announced this week that it has agreed to sell back its shares in CPR Pharma Services for A$928,399 ($666,000) in cash. The two companies entered into a strategic alliance earlier this year focused on clinical trials and related research. As part of the deal, Proteomics acquired 10 percent of CPR’s share capital in exchange for 4 million of its shares. The memorandum of understanding between them remains in place, Proteomics International said, adding that it has received notice that an offer to purchase all shares of CPR has been received and accepted by CPR’s majority shareholder. The sale is expected to be completed on or about Sept. 30. The issued shares related to the earlier deal will remain in escrow until March 4, 2019.

Luminex's board of directors this week declared a cash dividend for the third quarter of $.06 per share, payable on Oct. 12 to stockholders of record as of the close of business on Sept. 21.

Danaher’s board this week approved a regular quarterly dividend of $.16 per share, payable on Oct. 26 to shareholders of record on Sept. 28.

Abbott's board of directors this week declared a quarterly dividend of $.28 cents per share, payable Nov. 15 to shareholders of record at the close of business Oct. 15.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on 360Dx.