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In Brief This Week: CAP, CDC, Exact Sciences, Grail, More

NEW YORK – The College of American Pathologists said this week that it has signed a memorandum of understanding with the US Centers for Disease Control and Prevention to provide assistance and expertise to support surge testing during public health emergencies. Under the agreement, CAP will serve as a communications hub between CAP members and committees and other partners and government agencies participating in the MOU and will collect capability data from its accredited laboratories to identify those with the capacity to support the national response during a public health emergency. It will also use those laboratories to add surge testing capacity. 

Community Health Network and Grail said this week that they have begun a partnership offering Grail's Galleri multi-cancer early detection blood test to individuals at the Indianapolis-based healthcare system's more than 200 care sites. Primary care providers at select practices will offer the test to individuals at elevated risk for cancer, including those over the age of 50, as a complement to standard-of-care screening. 

Exact Sciences said this week that it has entered into a new accounts receivable securitization with PNC Bank as administrative agent via a wholly owned special purpose entity called Exact Receivables. The deal, which has a maturity date of June 29, 2024, provides Exact with up to $150 million of borrowing capacity. On June 29, 2022, the firm borrowed $50 million. 

Molzym said this week that it has received a double-digit million euro investment from a large, single family office. Further information about the investment amount and investor was not disclosed. The funding will go toward business expansion, with a particular focus on the US and China markets, the Bremen, Germany-based developer of PCR-based diagnostic kits said. Additionally, the financing will be used to launch its AutoSepT diagnostic tests for the sepsis market. The tests can attain results directly from a patient's sample within three hours. 

Quotient Limited said this week that it has closed its previously announced public offering of 32,458,336 ordinary shares and prefunded warrants to purchase 34,208,331 ordinary shares for net proceeds of about $18.5 million. The company plans to use the proceeds to fund the ongoing development and commercialization of its MosaiQ microarray menu and for working capital, operating expenses, and other general corporate purposes. Jefferies and Cowen were the joint bookrunning managers for the offering. 

BCAL Diagnostics this week identified startup Precion as its laboratory partner as it advances efforts to commercialize a blood-based breast cancer test in the US. Sydney-based BCAL said last month that a lab in North Carolina would analyze samples based on lipid profiles of extracellular vesicles, but did not name the partner

Mainz Biomed said this week that it has enrolled the first patient in its ColoFuture study evaluating the firm's gene expression-based ColoAlert colorectal cancer home screening test. The test, which is already being commercialized across Europe, incorporates mRNA biomarkers to detect colorectal cancers and precancerous polyps based on stool samples. The ColoFuture study is enrolling participants who agree to provide stool samples in advance of colonoscopy. The goal of the study is to determine the test's sensitivity and specificity rates for colorectal cancer as compared to colonoscopy. Mainz Biomed plans to complete enrollment during the second half of this year and report study results in early 2023. 

Caris Life Sciences said this week that the Miami Cancer Institute has joined its Precision Oncology Alliance, a network of cancer centers that collaborate to advance precision oncology and biomarker-driven research. The network includes 69 cancer centers and academic institutions, which gain early access to the firm’s database and artificial intelligence platform. Members can also integrate with a growing portfolio of biomarker-directed trials sponsored by biopharma and can use Caris' CODEai database, which houses treatment information and clinical outcomes data for over 275,000 patients covering more than 1 million data points per patient. 

MicroGem said last week that Thomas Scientific is now offering the firm’s Sal6830 Point of Care PCR System and SARS-CoV-2 Saliva Test. 

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.