Medical technology company Hologic has completed the acquisition of US-based commercial-stage molecular diagnostics company Biotheranostics for $230m.
Biotheranostics, which is based in San Diego of California, develops diagnostic, prognostic and predictive tests to treat cancer patients.
The company provides two molecular diagnostic tests called Breast Cancer Index (BCI) and CancerTYPE ID (CTID) for breast and metastatic cancers.
CTID test is said to offer a molecular diagnosis for patients with uncertain or unknown cancers.
By comparing genomic tumour information to a reference database to find the closest match, the test helps physicians to design personalised treatment plans for patients with unknown primary cancer and cases with diagnostic ambiguity.
According to the company, the BCI and CTID tests are laboratory developed tests that do not require an approval from the US Food and Drug Administration.
Hologic diagnostic solutions division Kevin Thornal said: “We are very pleased to complete the acquisition of Biotheranostics and look forward to working with our new colleagues to grow in the large, rapidly expanding oncology space.
“We are even more excited about the acquisition because last month the National Comprehensive Cancer Network revised its clinical practice guidelines to include Breast Cancer Index as the only gene expression assay to predict benefit from extended endocrine therapy for patients with early-stage hormone-receptor positive breast cancer.”
In January, Hologic completed the acquisition of Germany-based Somatex Medical Technologies for around $64m.
Somatex focuses on the development of single-use medical devices to facilitate diagnoses and therapies. It was earlier owned by E-Med Solutions.
Recently, Hologic has entered into a multi-year collaboration with Google Cloud to advance next-generation digital diagnostic capabilities.
