Transaction Strengthens CareDx's Presence in Cell-Free DNA technologies
Dr. Stephen Quake to join CareDx as Scientific Advisor
BRISBANE, Calif., May 21, 2014 (GLOBE NEWSWIRE) -- CareDx, Inc., a molecular diagnostics company focused on the development and commercialization of clinically differentiated, high value, non-invasive surveillance solutions for transplant recipients, today announced that it has entered into a definitive agreement to acquire ImmuMetrix, Inc., a privately held Palo Alto, California based development-stage transplant diagnostics company founded by Stephen Quake, D.Phil., with R&D programs and intellectual property in cell-free DNA.
ImmuMetrix has pioneered contributions in the field of genomics, including single cell gene expression and genome sequencing, non-invasive tests for heart transplant rejection and the development of approaches to sequence and analyze an individual's immune system.
"We believe that this acquisition will further strengthen our position in organ transplant surveillance, for both our current indication in heart with AlloMap and with other organs in our pipeline," said Peter Maag, President and CEO of CareDx. "Dr. Quake has an impressive background in genomics research and is a successful entrepreneur, having founded several highly successful diagnostics companies in the Bay Area. We are proud to have him support CareDx and our efforts to develop more products to help transplant recipients and their health care providers achieve better clinical outcomes."
"The combination of innovative cell-free DNA technology from ImmuMetrix, with the strong commercial channel provided by CareDx, will result in a new generation of diagnostic products to improve the care and treatment of transplant patients," said Stephen Fodor, Ph.D., a member of the Board of Directors of ImmuMetrix.
The acquisition is scheduled to close by the end of the second quarter of 2014.
AlloMap MolecularTesting is a non‐invasive gene expression test used to aid in the identification of heart transplant recipients who have a low probability of moderate/severe acute cellular rejection at the time of testing in conjunction with standard clinical assessment. AlloMap is performed in the XDx CLIA‐certified laboratory and has been commercially available in the United States since 2005. AlloMap was cleared by the U.S. Food and Drug Administration in 2008 and was CE marked for the European Union in 2011. Use of AlloMap is also included in the International Society for Heart and Lung Transplantation (ISHLT) Practice Guidelines, published in August 2010, the worldwide standard for the care of heart transplant patients.
CareDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development, and commercialization of clinically differentiated, high-value, non-invasive gene-expression test and surveillance solutions for transplant recipients. The company commercializes AlloMap, which aids clinicians in identifying heart transplant recipients with stable graft function.
For more information, please visit: www.CareDxInc.com.
CONTACT: CareDx Bradley P. Sherrill Senior Director, Marketing Tel: 415-287-2397 bsherrill@CareDxInc.com