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In Brief This Week: Epigenomics, NeoGenomics, Agilent, OpGen, More

NEW YORK –  Epigenomics said this week that it is in advanced negotiations with an unnamed US-based strategic investor about the acquisition of almost all of its assets. If the deal comes through, it will include all patents and other intellectual property rights relating to the German company's Epi proColon and Epi proColon "NextGen" tests as well as all blood samples owned by the firm. The anticipated purchase price is just over $11.5 million, consisting of $1.5 million in cash at closing and in December of this year, as well as milestone payments relating to Epi proColon and Epi proColon "NextGen," and shares of the acquiring company. The agreement would also include royalties and earn-out payments that Epigenomics would receive if the Epi proColon "NextGen" assay is commercialized. 

NeoGenomics said this week that it has obtained its first commercial payor coverage for its Radar minimal residual disease assay. Effective Aug. 1, Blue Shield of California will cover the test for its plan members, which represent approximately 4.7 million covered lives. The policy considers the test medically necessary for patients with stage I-IV cancer after surgical intervention for adjuvant or targeted therapy and/or monitoring for relapse or progression. 

OpGen said last week that Nasdaq has told the company that it is not in compliance with a requirement calling for a minimum bid price of $1.00 per share over the prior 30 consecutive business days. As a result, OpGen's shares could face delisting action. The firm has 180 calendar days to regain compliance. If it does not, it may seek an additional 180 calendar days to regain compliance. 

Agilent Technologies said this week in a document filed with the US Securities and Exchange Commission that it has entered into an agreement for a new $1.5 billion five-year unsecured credit agreement that it will use for general corporate purposes. The agreement runs through June 7, 2028. BNP Paribas is the administrative agent, swingline lender, and one of the issuers of lines of credit, and the other lenders included Citibank, Bank of America, JP Morgan Chase Bank, and Wells Fargo Bank. 

Enzo Biochem said this week that total revenues for its fiscal third quarter were down 39 percent year over year to $16.1 million from $26.2 million as COVID-19 testing declined and a ransomware attack reduced volumes. Enzo Life Sciences revenues dipped 1 percent to $7.5 million compared to $7.6 million a year ago, the Farmingdale, New York-based firm said, while Enzo Clinical Lab revenues decreased 54 percent to $8.6 million from $18.6 million a year ago. Laboratory Corporation of America in March said it is buying Enzo's clinical lab assets for $146 million in cash. Enzo's shareholders have approved the deal, and the firm has met all regulatory requirements for the deal, it said. 

Precipio announced this week a deal with an unnamed New York-based academic healthcare institution to jointly develop a panel for glioblastoma using the company's HemeScreen technology. Precipio will design and develop the genetic panel, which provides prognostic and therapeutic markers for the brain cancer. The institution will provide patient samples as well as clinical expertise. It intends to be the first to use the panel upon completion of its development. New Haven, Connecticut-based Precipio said it anticipates the development process will last four months and cost less than $50,000. 

Molecular diagnostics developer Gencurix said this week that it gained Korean Ministry of Food and Drug Safety approval for a PCR test used to identify EGFR mutations that are common in non-small cell lung cancer patients and guide therapy selection. The Seoul-based firm said its Droplex EGFR Mutation Test V2 can detect up to 107 mutations, including exon 20 insertion, and it can be run on Bio-Rad Laboratories' Droplet Digital PCR instrument. The firm noted it secured CE marking for the test last year. 

Skin testing diagnostic firm CND Life Sciences said this week it has been accredited by the College of American Pathologists. During the accreditation process, inspectors assess a company's lab records and quality control procedures, as well as lab staff qualifications, staff competency, equipment, facilities, safety program and records, and overall management, the Scottsdale, Arizona-based company said.

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.