Nasdaq-listed healthcare company BioReference Laboratories invested $6m in IncellDx, a US-based molecular diagnostics company on Monday, buying preferred stock and warrants giving it between 20% and 25% of the company.
IncellDx detect and monitors diseases including cervical cancer, breast cancer, HIV/AIDs, hepatitis, and organ transplant rejection. IncellDx’s 2011 revenue was about $1,1m.
Marc Grodman, president and chief executive of BioReference Laboratories, said: "The science behind IncellDx is compelling. HPV is a surrogate for the disease process that results in Cervical Cancer. By allowing for the quantification of E6 and E7 oncogene overexpression, IncellDx actually tracks the neoplastic process therefore it is not about the infection, it is about the disease. This technology, which has been well reviewed in academic publications, not only greatly improves the specificity which accompanies HPV testing but also is cost effective in identifying those HPV cases that do not progress to cervical cancer. "