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News and reporting on prostate cancer.
The firm said it will begin running its urine-based test immediately in its clinical laboratory in Munich and make it available throughout Europe.
Bio-Techne expects the acquisition will provide it with a basis to build out its IVD presence, given Asuragen's diagnostic tests and regulatory expertise.
The companies have agreed to join their respective technologies into an integrated product for artificial intelligence-based prostate cancer diagnosis.
The firm said its test can be used to evaluate blood samples from people who present with suspicious growths in the breast, lung, prostate, colon, or brain.
Billable test volume for the company's ConfirmMDx and SelectMDx prostate cancer test fell year over year, but rose sequentially from the third quarter.
The investment bank cited its expectation for a positive coverage decision from Medicare for the company's SelectMDx prostate cancer test, among other reasons.
Bio-Techne's CEO said the coverage decision will expand access to its EPI test and enable additional men to better decide whether to proceed with a prostate biopsy.
The test relies on a spermine risk score coupled with a urine test to predict which patients are most likely to have prostate cancer.
The company said the funding would be used to further commercialize its IsoPSA blood-based prostate-specific antigen assay and to develop tests for other cancers.
San Diego-based Decipher has a portfolio of genomic tests for urologic cancers to improve patient decision-making and accelerate adoption of new therapies.