Currently available screening methods have not been shown to reduce mortality in the general population, USPSTF said.
The Seoul-based company also recently raised $1.9 million in series B funding and is targeting between $7 million and $8 million to close the round.
NGeneBio said this week that its next-generation sequencing panel has been approved as an IVD, the first NGS test to be cleared in Korea.
The drugmaker will use Myriad's expanded molecular diagnostic panel to evaluate best responders to a combination of Lynparza and Avastin in clinical trials.
The drugmaker is subsidizing the cost of BRCA testing for women diagnosed with ovarian cancers, for whom guidelines now recommend such testing for cancer therapy selection.
The researchers developed a qPCR test that analyzes microRNAs associated with ovarian cancer and plan to run a retrospective trial of the assay on biobanked samples.
Total revenues were $699,000 up from $623,000 the year before with product revenue up 13 percent as OVA1 sales volume dropped but revenue per test performed rose.
Researchers at NJIT have initially tested their biochip for the detection of early-stage ovarian cancer, but they said it could have use for other cancers and diseases.
About £3.7 million ($4.9 million) of proceeds from the placement would go toward the acquisition, while remaining funds will support assay development validation, and working capital.
The companies will validate and commercialize the assay as a companion diagnostic to identify best responders to Morphotek's investigational ovarian cancer treatment.