Cancer Genetics buys vivoPharm for $12 million

| By | Cancer Drugs, Drug Development, Pharmaceutical Deal

Cancer Genetics, Inc. (CGI), an emerging leader in cancer diagnostics, and vivoPharm Pty. Ltd. yesterday announced they have entered into a definitive agreement for Cancer Genetics to acquire vivoPharm for approximately $12 million USD.

This transaction will significantly strengthen CGI’s position as a premier leader for oncology discovery, in vivo and in vitro drug development and early phase clinical trial testing for biotechnology and pharmaceutical companies. With over a decade of experience in delivering a wide range of discovery and preclinical services to support drug development, target validation and biomarker analysis, vivoPharm has supported over 200 Investigational New Drug (IND) submissions for innovative therapies, with a significant focus on immuno-oncology.

vivoPharm has developed industry recognized capabilities in early phase development and discovery, especially in immuno-oncology models, tumor micro-environment studies, specialized pharmacology services, and PDx (patient derived xenograft) model studies that support basic discovery, preclinical and phase 1 clinical trials.

As a market-leading contract research organization (CRO), vivoPharm services approximately forty clients, the majority of which are located outside the U.S., with its diverse client base, ranging from virtual biotech companies to large top 10 pharmaceutical companies.

“We are looking forward to making significant market impact by combining vivoPharm’s unique value proposition of integrated preclinical, safety and biomarker profiling, both in vitro and in vivo, with Cancer Genetics and a team at the forefront of precision oncology development,” said Dr. Ralf Brandt, CEO and Managing Director of vivoPharm. “Our teams are dedicated to working closely together to deliver a complete end-to-end solution from discovery and early development through companion diagnostic development and patient monitoring. The business of our customers and partners will be strengthened by the expanded reach, investment and capability of the joint companies.”

SOURCE: cancer genetics
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