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Exact Sciences finalizes the purchase of Viomics & Paradigm Diagnostics

Exact Sciences finalizes the purchase of Viomics & Paradigm Diagnostics
Exact Sciences finalizes the purchase of Viomics & Paradigm Diagnostics

Molecular diagnostics company, Exact Sciences Corp. has revealed that the company has successfully finalized the acquisitions of renowned diagnostic firm Paradigm Diagnostics, Inc. and Viomics, Inc. For the uninitiated, Paradigm and Viomics are known for their late-stage therapy selection test and in-dept capabilities in sequencing and biomarker discovery, features that are likely to extend Exact Sciences' lab testing and R&D capabilities.

As per Exact Sciences CEO & Chairman, Kevin Conroy, the recent acquisition is a step forward in extending their firm’s leadership in advanced cancer diagnostics. Paradigm’s therapy selection test and scalable clinical lab and Viomics' research capabilities, combined with Exact Sciences’ commercial platform, will help provide patients with faster and smarter solutions throughout cancer continuum.

Currently, Paradigm offers a comprehensive genomic profiling test to advanced, refractory, or recurrent cancer patients, allowing doctors to better understand a subject’s tumor profile and recommend targeted clinical trials and therapies.

Viomics meanwhile offers extensive sequencing capabilities in identifying unique biomarkers that identify the presence of cancer in blood and solid tissues. These expertise of Viomics team is expected to bring additional resources to Exact Sciences' highly-skilled R&D workforce, while potential biomarker discoveries are likely to be used in the firm’s pipeline cancer tests.

Credible sources suggest that sequencing will play a crucial role in bringing blood-based advanced cancer diagnostics to doctors and patients. Whereas Paradigm and Viomics, following their purchase, are claimed to remain operational in Phoenix.

Alike Exact Sciences, U.S.-based life sciences company, Thermo Fisher has recently revealed plans to acquire diagnostics group, Qiagen in a $11.5 billion deal. Sources close to the move claim that Thermo Fisher, with this acquisition, plans to expand its disease-testing capabilities, especially amid the mounting concerns of novel coronavirus outbreak observed worldwide.

Apparently, Qiagen is designing kits to test for COVID-19, a disease that has reportedly infected over 90,000 people globally and has taken a toll on over 3,000 patients.

Source Credit: https://www.streetinsider.com/Corporate+News/Exact+Sciences+%28EXAS%29+Reports+Acquisitions+of+Paradigm+Diagnostics+Inc.+and+Viomics+Inc/16566148.html