“We currently have two tests on the market and that are covered by Medicare and private payers—MyPRS Plus, the only prognostic genomic test for multiple myeloma on the market, and Previstage GCC, an innovative test to determine if colon cancer is at an advanced stage and its likelihood of recurrence,” he says. “With this transaction, Signal acquired additional diagnostic and prognostic tests in development for breast, colon and lung cancers (as well as related patents) that we believe offer great promise for cancer patients.”

 

Signal Genetics will also acquire ChipDX’s web-based interface, which will be used to enhance Signal’s physician web portal and allow for remote interpretation of test algorithms.  

 

Going forward, Hernandez says success of the acquisition will be gauged by the driving adoption of these innovative tests over time.

 

“We think there is an undeniable need to identify high risk patients early on to aggressively target cancers,” he says. “Our acquisition of ChipDX augments our clinically-driven bioinformatics capabilities, and will help us to facilitate better patient outcomes and more appropriate use of financial resources.”