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In Brief This Week: Labcorp; Revvity; BGI Genomics; Genetic Technologies; Revna Biosciences

NEW YORK – Laboratory Corporation of America said this week that it has finalized its acquisition of select assets of California-based healthcare system Providence’s outreach lab business, including ambulatory lab draw stations and an ambulatory laboratory facility and other equipment. 

The company also said it has completed its acquisition of the outreach laboratory business and select operating assets, including laboratory service centers, of Massachusetts-based Baystate Health. Labcorp has also established a regional laboratory in Baystate Health’s facility in Holyoke, Massachusetts, where Baystate Health will continue to provide professional support services for anatomic pathology and select specialty testing at its existing laboratory. The company originally announced this purchase in October 2023. 

Revvity declared this week a regular quarterly dividend of $.07 per share of its common stock, payable on Aug. 9 to shareholders of record at the close of business on July 19. 

BGI Genomics said this week that it has established a new clinical laboratory at Uruguay's Parque de las Ciencias free trade zone. The facility, established with BGI’s Huo-Yan (Fire Eye) laboratory standards, is built to handle the entire genetic testing process, including sample handling, extraction, sequencing, analysis, quality control, and reporting. The lab employs Uruguayan technicians who are trained and supported by Chinese experts from the company. 

Genetic Technologies said this week that it has closed its registered offering of 1 million American Depositary Shares and concurrent private placement to issue unregistered warrants to purchase up to 1 million ADS. Proceeds from the offering, announced last week, were $2 million. 

Molecular data science firm RenovaroCube said this week that it will take complete ownership of Dutch liquid biopsy firm Cyclomics. Earlier this year, the Renovaro Biosciences subsidiary had announced it would acquire 75 percent of Cyclomics, which has been developing circulating tumor DNA assays using nanopore sequencing. RenovaroCube now plans to purchase the remaining 25 percent of the firm for an undisclosed amount, following "the resounding success of [the firms'] partnership and the remarkable synergy between the two companies." RenovaroCube's artificial intelligence platform, called Cube, currently contains more than 3,600 biomarker panels for 13 different cancers. The goal of the firms is to develop early cancer detection assays. 

Revna Biosciences, a biomedical company advancing molecular diagnostics and therapeutics discovery based in Accra, Ghana, announced this week that it has obtained two accreditations from the American Association for Laboratory Accreditation. Its ISO 15189:2022 accreditation for clinical diagnostics verifies the facility's compliance with strict standards of precision, reliability, and patient confidentiality for human sample tests including those involving urine, swabs, blood, bone marrow, tissue samples, and plasma. Its ISO 20387:2018 accreditation for biobanking spans collection and acquisition, preservation, testing, storage, and distribution of tissues and blood products. The company is the first facility in the region to secure dual ISO accreditations. 

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.