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GenesisCare Takes Minority Stake in Precision Medicine Firm PreludeDx

NEW YORK — Australian cancer care provider GenesisCare said on Monday that it has taken a minority equity stake in PreludeDx, providing funds to help support the companies' recently announced breast cancer testing partnership.

Specific investment details were not disclosed.

Earlier this year, the firms signed an agreement under which PreludeDx's DCISionRT precision medicine test for women with breast cancer is being offered in Australia by GenesisCare. Patient access to the test is also being expanded in the US through GenesisCare's network of cancer centers.

The partners also agreed to work together to continue developing precision medicine tests for breast and other cancers, as well as to establish a global registry to evaluate DCISionRT's impact on treatment decision-making for women with ductal carcinoma in situ.

According to GenesisCare, the money it is providing to Laguna Hills, California-based PreludeDx through the equity investment will support the global data registry, expand the rollout of DCISionRT, and accelerate PreludeDx's development of a new early-stage breast cancer assay.