Konica Minolta paid $800 million up front for Ambry, with Ambry shareholders eligible to receive up to $200 million in future payments.
The firm's CEO said that its assay is applicable in other indications where immunosuppressive therapies are used, such as rheumatoid arthritis.
The company hopes to build enrollment of men with advanced prostate cancer within its larger Strata Trial — which provides free targeted sequencing and tracks its impact on clinical trial enrollment.
The company's validation studies demonstrate that the assay has a 99 percent negative predictive value, which it believes will persuade physicians of its value.
The assay combines high-throughput drug screening of live, patient-derived tumor cells with DNA sequencing and data analysis to match patients with drug therapies.
Analyzing utilization data, Diaceutics found that issues around 13 genetic tests prevent around 78,000 patients from getting personalized, targeted treatments each year.
Founder Mark Harris and Gillian Hooker, VP of clinical development, explain why a more efficient Genetic Health Information Network is critical to the advancement of precision medicine.
There are signs that doctors may be moving away from experimental precision therapy options in favor of immunotherapy and the chance at longer survival.
The new algorithm, called TOPSPIN, complements the company's MMprofiler test. It is considering making TOPSPIN-generated data available to its MMprofiler patients.
The firm announced a 14 percent drop year-over-year in fourth quarter revenues and plans to reduce personnel and other costs to support development of a precision drug it has licensed.