As part of the agreement, LifeLabs will serve as an exclusive distributor for MDxHealth's non-invasive liquid biopsy prostate cancer assay In Canada.
Cardiac immunoassays paced revenue growth in Q4. The firm also saw an 88 percent jump in total revenues for 2018, supported by 43 percent growth in molecular diagnostics.
The joint venture, called Renx AI Labs, will allow RenalytixAI to operate outside New York City and perform prospective revenue-generating contract research.
The partners anticipate developing tests that analyze clusters of biomarkers to detect cardiovascular disease, kidney disease, liver cancer, and other diseases.
The new grant from Innovate UK will fund development of a sample preparation system to support POC infectious disease pathogen detection.
The firm said that it anticipates using the funds to scale operations in the US and to continue rolling out its service in the UK.
The assay is designed to detect ribosomal RNA from four clinically relevant Babesia species and runs on the company's Procleix Panther system.
PAMA, divestitures, and weather were among the factors negatively affecting revenues in the company's diagnostic division.
The firm used about $38.8 million on Feb. 1 to repay all outstanding principal, interest, related fees, and other obligations under an existing loan agreement.
The company said RNA-seq will enable it to detect therapeutically relevant gene fusions better than DNA sequencing tests.
The firm said net product revenues fell 11 percent year over year in the fourth quarter.
The company will compete by continuing product improvements, ramping up marketing presence, and launching an app to improve doctor and consumer engagement.
The BioFire FilmArray Pneumonia panel will be used to optimize clinical trial enrollment for an antibiotic to treat combat carbapenem-resistant A. baumannii infections.
The firm said it expects to achieve full-year revenue of $100 million in 2023, based on its commercial and development opportunities and operational investments.
The RT-qPCR-based assay, which has 510(k) clearance, is designed to rapidly differentiate sepsis from systemic inflammatory response syndrome.
The firm reported total revenu 16.8 million, up from $187.9 million in Q2 2018 and just above analysts' average estimate.
The test uses multiplex PCR fragment analysis with Promega-designed five-mononucleotide repeat markers to detect the MSI-high phenotype within tumor tissues.
The device can process high-volume sputum samples for PCR-based Mycobacterium tuberculosis detection at smear-negative, culture-positive levels.
Opko will use the proceeds to fund R&D to further develop its diagnostics and pharmacy portfolio, and for working capital including debt repayment.
The company reported growth across all three of its business segments and reaffirmed its full-year guidance.