With Roche's R&D arm stepping back into antibiotics development, the pharma giant has struck a $425 million deal--with $190 million upfront--to buy a U.S. diagnostics outfit that's been developing some rapid-fire tech for matching the right antibiotic with the right bug.
The deal gives DNAnexus a starring role in the creation of precisionFDA, an open-source platform the FDA sees as a way to manage the anticipated surge in the amount of genomic data the industry has to handle.
Veterinary diagnostics maker IDEXX reported on Thursday that its revenues for the second quarter grew 6% year over year to $413 million, as placements of its blood analysis systems hit a record of 900 units for the period. Placements of its Catalyst One next-generation chemistry analyzer skyrocketed 44% to an all-time record of 1,100 units, the company said in a press release announcing the results.
Vermillion has tapped investors for money to fund the enhancement of its bioinformatics platform. The diagnostics and bioanalytics player pulled in a total of $18.8 million through a stock offering, a slice of which will be ploughed into biotech IT.
AstraZeneca's Iressa is back. After four years off the U.S. market, the lung cancer fighter has picked up an FDA approval as a first-line lung cancer therapy, specifically for patients whose tumors test positive for certain EGFR mutations, the company said Monday.
Shares of veterinary diagnostics maker Heska have doubled in the past year, as investors have rewarded the company for its efforts to generate higher revenues from recurring sources. It's clearly still a work in progress for the Colorado company though: Heska reported that sales in its first quarter rose just 10% year over year to $22.9 million.
Dog-lover Taro Franke, a tech entrepreneur and artificial intelligence researcher in Germany, was chatting with a veterinarian friend of his one day about a self-learning diagnostic system he had developed for use in human health. It dawned on them that the technology might be even more useful for pet owners trying to determine whether symptoms they spot in their dogs are serious enough to warrant a visit to their local veterinary clinic.
Veterinary diagnostics maker IDEXX produced mixed results in the fourth quarter, announcing disappointing revenues but beating analysts' earnings estimates on Friday.
Between the need to protect food animals from pathogens and the willingness of pet owners to pay top dollar for testing and treatments, the animal health industry represents a huge opportunity for diagnostics makers. In fact, animal-health diagnostics is expected to be a $4.2 billion market by 2018, according to research firm MarketsandMarkets.
Here's some statistical confirmation that awareness campaigns work--and that they can work well. During a three-month push for lung cancer testing in the U.K., primary care doctors referred more than 3,000 extra patients to get tested. About 700 were diagnosed with lung cancer.