June 13, 2011 “Intelligence: Late Breaking Lab News”

In coming weeks, Agendia, probably best known for its genetic breast cancer test, hopes to complete an initial public offering (IPO). Agendia is a company based in Amsterdam, The Netherlands with offices in Irvine, California. Its stock symbol will be “AGDX” and the shares will trade on the Euronext Amsterdam exchange. Plans are to raise €75 million (US $109 million). Financial documents filed by the company indicate that it had sales of €1.4 million (US $2.0 million)in 2009 and €4.7 million (US $6.7 million) in 2010.

MEDICAL DEVICE TAX REPEAL EFFORT GAINS MOMENTUM

Med City News reports that one Congressman’s effort to repeal the 2.3% medical device tax is gaining wide support. This tax is mandated by the Patient Protection & affordable Care act which was passed in 2010. The new tax will become effective on January 1, 2013. (See TDR, March 29, 2010.) It is Representative Erik Paulsen (R-Minnesota) who is championing repeal of the medical device tax.

MORE ON: Reform

Paulsen’s bill is titled the “Defend Medical Innovation act.” There are a reported 154 elected officials backing this bill, including four House Democrats. Paulsen says that implementation of this tax “unfairly penalizes entrepreneurship and innovation in an industry that makes up 2.7% of our nation’s GDP.”

TRANSITIONS

  • Jacob “Jack” Kevorkian died on June 3, 2011, at the age of 83, at a hospital in Detroit, Michigan. A pathologist, Kevorkian became nationally-prominent in the 1990s for his advocacy of a “terminal patient’s right to die via physician-assisted suicide.” In 1991, his medical license was revoked by the State of Michigan. In 1999, he was convicted of second-degree murder for his role in an assisted suicide and was imprisoned until his parole in 2007. There are reports that Kevorkian was terminally ill with Hepatitis C, which he is said to have contracted while conducting research about blood transfusions.
  • ACM Laboratory, of Rochester, New York, announced, on June 9, the appointment of Todd Meyers as vice President of Sales and Marketing. Meyers’ background is the pharmaceutical sector and includes positions with i3 Global, Zitter Group, and Covance.

Dark Daily Update

dark_daily_logoHave you caught the latest e-briefings from DARK Daily? If so, then you’d know about…

…how IBM’s Watson super- computer—winner over humans in a Jeopardy game show contest—was designed to help physicians assess patient data and develop a more accurate diagnosis.

You can get the free DARK Daily e-briefings by signing up at www.darkdaily.com.

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