Cancer Genetics Inc. partners with ICON's Laboratory Services on projected $169B oncology lab testing market
RUTHERFORD, N.J.—Cancer Genetics, Inc. (CGI), an emerging leader in DNA-based diagnostics, announced today that it has entered into a partnership with the Laboratory Services group of ICON plc, the global CRO. ICON's Laboratory Services provide global testing services to the pharmaceutical, biotechnology and medical device industries. The partnership will provide clients access to combined expertise ranging from complex, oncology-focused genomic testing to core central laboratory analysis, project and data management and sample logistics on a global basis.
Oncology testing services are central to CGI's business model and are also a core focus area for ICON Laboratory Services. Together, the two companies will leverage their respective expertise to provide key insights to the oncology drug development and clinical trial process: ICON's expertise in strategic development and in management and analysis of lab data from large-scale clinical programs, and CGI's extensive knowledge in applying genomics and other advanced technologies focused on cancer. The partnership is focused on providing a comprehensive, integrated and efficient solution for laboratory testing for global oncology trials from Phase 1 through Phase 4.
"We are looking forward to working with the CGI team and to enhancing our client offering with complementary laboratory service programs," said James Miskel, executive vice president, ICON Laboratory Services. "Together, CGI and ICON are uniquely positioned to provide a full range of comprehensive lab solutions for our customers with current and future oncology-focused clinical trials."
With the projected value of the cancer diagnostics market estimated to reach $169B globally by 2020, the industry has growing demand for complex oncology laboratory testing services. CGI provides complex genomic testing for six out of ten major pharmaceutical companies in the U.S.
"This partnership will satisfy the enormous need among biotech and pharmaceutical companies for more efficient and comprehensive testing solutions by integrating CGI's specialized, genomic testing to ICON's laboratory solutions," said Panna Sharma, CEO of Cancer Genetics.
Cancer Genetics Inc. is an emerging leader in DNA-based cancer diagnostics. The company’s tests target difficult to diagnose hematological, urogenital and HPV-associated cancers. They are designed to guide the prognosis and treatment of these cancers with the goal of improving outcomes for patients. CGI has established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic and the National Cancer Institute. The company also offers a comprehensive range of non- proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals and biopharmaceutical companies. CGI’s reference labs are CLIA certified and CAP accredited in the U.S. and have licensure from several states including New York State.
ICON plc is a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries. The company specialises in the strategic development, management and analysis of programs that support clinical development—from compound selection to Phase 1-4 clinical studies. With headquarters in Dublin, Ireland, ICON currently, operates from 83 locations in 38 countries and has approximately 11,200 employees.