Veracyte Inc. revealed plans to buy C2i Genomics Inc. at the J.P. Morgan Health Care Conference in San Francisco on Jan. 8, a move that will significantly expand its portfolio of cancer diagnostic and monitoring assays. The terms include $70 million in Veracyte shares to be paid at closing plus an addition $25 million payable in cash or Veracyte shares over the next two years if C2i achieves certain performance milestones.
C2i Genomics Inc. reported the formal launch of its C2inform minimal residual disease diagnostic across Europe, after obtaining CE marking for the cancer test. The Cambridge, Mass.-based company also has completed several clinical trials it ran with research partners to validate the technology and will be presenting data in different cancers at the American Association for Cancer Research in New Orleans, April 8-13.
Anyone who has had a malignant tumor removed knows the anxiety that follows. Did any traces of cancer remain, and if it returns, will doctors catch it before it’s too late? To reduce the uncertainty and improve patient outcomes, C2i Genomics Inc. has raised a $100 million series B funding round led by Casdin Capital to advance software that is 100 times more sensitive in detecting residual disease than legacy technologies.
Whole genome sequencing is not part of treating patients in practice – or even involved in most clinical trials of drug candidates. But C2i Genomics Inc. is working to make that a reality. It applies pattern recognition to whole genome sequencing to create an individualized fingerprint for a given patient’s tumor. The New York-based startup has raised a $12 million series A round to back the development of its technology, which came out of Cornell and the New York Genome Center.
Whole genome sequencing is not part of treating patients in practice – or even involved in most clinical trials of drug candidates. But C2i Genomics Inc. is working to make that a reality. It applies pattern recognition to whole genome sequencing to create an individualized fingerprint for a given patient’s tumor. The New York-based startup has raised a $12 million series A round to back the development of its technology, which came out of Cornell and the New York Genome Center.
