The company decided to settle the complaint in order to avoid "lengthy and distracting litigation," but denies any wrongdoing.
The letter supporting the LAB Act, which would delay reporting of lab payment data under PAMA, was submitted to the House Energy & Commerce Committee.
The ARUP COO recently published a commentary providing the clinical lab perspective on recent congressional proposals around LDT regulation.
The firm will use the proceeds to continue developing its Proteograph platform, build its proteomic database, and develop liquid biopsy products for early disease detection.
Though the designation has seen slow uptake thus far, three tests received ADLT status in May, bringing the total number of approved ADLTs to five.
Danaher's life sciences revenues grew 6 percent, while its diagnostics revenues rose nearly 5 percent, including an increase of more than 20 percent at Cepheid.
The company markets genetic tests for skin cancer including DecisionDx-Melanoma for identifying high-risk stage I and II cutaneous melanoma patients.
Chembio said it will receive funding subject to satisfying milestones to develop a test that leverages its immunoassay platform and hand-held optical analyzer.
The group will start a pilot study at Columbia University next week to sequence genes from 600 Parkinson's disease patients before expanding to a larger cohort.
The researchers have developed CompCyst, which uses clinical features, imaging, and molecular data, to guide pancreatic cysts treatment approaches.