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Maverix Medical Acquires Cirrus Bio With Plans To Develop Lung Cancer Diagnostics

NEW YORK – Maverix Medical said Friday that it has closed its acquisition of Cirrus Bio, which it is incorporating into a new diagnostics arm, Maverix Dx, with plans to bring to market a suite of lung cancer diagnostics via additional investment and acquisitions. Financial terms of the deal were not disclosed.

Cirrus Bio is a diagnostics developer working with a platform that incorporates artificial intelligence and multiomic analysis. Company cofounders David Mallery and Scott Morris previously founded and led the firms Paradigm Diagnostics and Viomics, both acquired by Exact Sciences.

Mallery will now serve as CEO of Maverix Dx and Morris will be its CSO.

"As we evaluate the lung cancer market, we see tremendous unmet clinical need and a rich opportunity set for both internal development and acquisitions. We are far from the only ones working on this tough clinical problem, and we look forward to partnering with other innovators to discover and validate new techniques for improving lung cancer care," Mallery said.