Icon, a CRO based in Dublin, has acquired MolecularMD, a molecular diagnostic specialty lab that focuses on a platform for the development and commercialization of precision medicines for oncology.
Financial terms of the deal weren’t disclosed.
The purchase expands Icon’s laboratory offering in molecular diagnostic testing and brings expanded testing platforms, including next generation sequencing and immunohistochemistry (IHC), the company said.
MolecularMD, which was founded in 2006, offers a comprehensive test menu in the area of immune oncology development at its labs in Portland, Oregon, and Cambridge, Massachusetts. The company also offers companion diagnostic development services.
“We are committed to expanding the testing we offer into specialized areas so that we can help customers to take time and cost from the development and commercialization of precision medicines,” Steve Cutler, Icon’s CEO, said in a statement.
Last month, Icon adopted a new digital platform developed with Dimension Data that was designed to enhance efficiency and productivity of its client’s drug and medical device pipelines. The platform was rolled out throughout the CRO to help support digital trials and patient interactions.