Sakura Finetek USA, Inc., announced on January 5 that it had acquired 100% of the stock of GeneMed Biotechnologies Inc., of South San Francisco, California, along with its “tissue-based advanced staining business for cancer detection, diagnosis, and monitoring.” GeneMed’s liquid-based molecular products were not part of the acquisition and will be put into an independent business. Takashi Tsuzki, CEO and President of Sakura Finetek USA, noted that GeneMed’s products—including antibodies, detection systems, ISH probes, and ancillary reagents—were complementary with Sakura’s products used in routine staining. The GeneMed products will help Sakura serve the advanced staining market.
ADD TO: Sakura Finetek
Sakura Finetek’s acquisition of Genemed is another example of consolidation in the IVD and histology sectors, where the need to have size and scale is a critical success factor. It also illustrates another trend, which is the desire of lab vendors to offer a complete range of solutions to their lab customers. In a press release, Sakura Finetek Europe noted that GeneMed manufactures 111 primary antibodies, 9 detection systems, 22 ISH probes, and 35 ancillary reagents.
INDEPENDENCE BC FIRST TO PAY FOR WHOLE GENOME SEQUENCING
Earlier this month, Independence Blue Cross of Philadelphia announced that it would cover “next generation whole genome sequencing for a variety of cancers.” It is the first health insurer in the nation to cover whole genome sequencing. NantHealth of Culver City, California, will provide the next-generation gene sequencing for patients insured by Independence Blue Cross. This coverage begins in March and, according to the company’s press release, “The test will be covered for members with specific conditions including rare cancers, tumors in children, metastatic cancer of unknown primary, primary brain cancer, triple negative breast cancer, and metastatic cancer where conventional therapies have been exhausted and patients remain candidates for further therapy.”
- Counsyl, Inc., of South San Francisco, California, named Ted Snellgrove as its new Chief Business Officer. He has held formerly executive positions with Jazz Pharmaceuticals, Cellscape Corporation, Crescendo Bioscience, and Genomic Health.
Dark Daily Update
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…the new blood test that can reveal every virus that has passed through a body over its lifetime. The assay was developed by researchers at the Howard Hughes Medical Institute. The test uses a blood sample and costs just $25.
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That’s all the insider intelligence for this report. Look for the next briefing on Monday, February 8, 2016.